Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek


Filed under: News


Mosaic Plans Overseas Expansion With Its Kickstarter-Style Solar Campaigns

Jan 8 2014, 4:11pm CST | by

10 Updates


Full Story

Mosaic Plans Overseas Expansion With Its Kickstarter-Style Solar Campaigns

Mosaic, a California startups that raises solar project investments through kickstarter-like campaigns, plans to expand overseas to communities with little or no access to electricity.

The company just won $1 million from a Verizon grant program, announced Wednesday, to come up with a plan to go international, which would include a loan product to fund solar panel installations, a mobile app for investors and pilot projects to be implemented before the end of this year, said Dan Rosen, CEO of Mosaic.

Founded in 2010, Mosaic has gotten good publicity with its crowd-funding model to match investors with solar project developers in the United States. The company styles its online fundraising efforts as populist campaigns to make solar investments available to the masses. People can put in as little as $25 into a project and get a stead return of 4% to 5.7% over 5-10 years, though the average investment amount was $1,000 when I spoke with its co-founder Billy Parish last year.

Mosaic’s projects are located on commercial properties and at affordable housing and nonprofit sites. The company is working on a loan product for the residential market.It makes money mainly by charging a loan origination fee that is typically 2% to 5% of a loan, and a 1% annual fee from investors. Mosaic has raised $6.6 million for 20 projects since January 2013.

The growth of the U.S. solar market has attracted many startups that try to bring together investors, project developers and home or business owners. These companies include EnergySage, Wiser Capital and One Block Off the Grid.

Mosaic is joining a growing number of companies that see opportunities in bringing electricity to underserved communities and a world where population growth will demand a corresponding increase in energy production.

For its international expansion, Mosaic wants to fund projects in communities with unreliable — or no — electric grids. But unlike efforts by some nonprofits or companies that distribute solar power chargers or other devices that allow people to draw electricity on the go, Mosaic is also interested in projects that will pipe electricity to homes, Rosen said. That would entail installing not only solar panels but also energy storage and cables for distributing the energy, he added.

“We are also looking at loans to companies selling solar chargers, but the main thrust is microgrid. That’s where we see the biggest needs and growth,” Rosen said.

The popular use of mobile phones in developing countries for doing business and paying bills is key for making Mosaic’s plan work. The company will loan money to project developers who could use the pay-as-you-go model to sell power to homeowners. In many communities with poor access to electricity, the use of diesel power or kerosene lighting is so expensive that solar power can be a cheaper option.

Mosaic plans to use some of the Verizon grant to develop a mobile app for people who want to invest in its projects, not just those that will be located overseas. People already can use their smart phones to go to Mosaic’s website, peruse projects and fork over money, but there isn’t an app available to make that a more user-friendly experience.

Rosen said Mosaic is looking at carrying out $1 million worth of pilot projects this year in one of the four regions it’s interest in: Sub-Saharan Africa, Brazil, India and Southeast Asia. The pilot projects will be small and help to gauge investors’ interest and to spot — and solve — problems.

What kind of returns investors could get from these microgrid projects remains to be seen. Mosaic still needs to create a loan product and investigate some of the risks involved in overseas lending. Installing solar power projects in more far-flung places could also be more expensive than in regions where solar power generation is more common.

“There will be billons of people who will require a huge amount of electricity. We want to make sure they can leapfrog with solar and not having to go through the coal or oil age,” Rosen said.

Source: Forbes


iPad Air Giveaway. Win a free iPad Air.

You Might Also Like


Sponsored Update

Update: 10

4 Firms In Iskandar Malaysia Get Facilitation Fund Totalling RM16.2 Million

Source: Malaysia Today

(Bernama) – Four companies have received the facilitation fund amounting to RM16.2 million from TERAJU@Iskandar Malaysia in an information sharing programme on business opportunities and assist ...
Source: Malaysia Today   Full article at: Malaysia Today 6 days ago, 7:42am CDT


Update: 9

Selangor’s Watergate about to explode

Source: Malaysia Today

Anwar brought Wan Azmi to meet Khalid to try to resolve this matter. Anwar supports the RM2.5 billion claim but Khalid is stubbornly sticking to the figure of RM250 mi ...
Source: Malaysia Today   Full article at: Malaysia Today Jul 23 2014, 4:12am CDT

More From the Web

Update: 8

GLCs told to provide RM7 billion to develop Bumiputera firms

Source: Malaysia Today

(The Malaysian Insider) – Putrajaya has directed government-linked companies (GLC) to generate RM7 billion in business opportunities for Bumiputera firms this year, Prime Minister Prime Minister Datuk Seri Najib R ...
Source: Malaysia Today   Full article at: Malaysia Today Jul 17 2014, 2:05am CDT

Update: 7

Rafizi shows proof of Putrajaya’s hand in contentious carpet-trader loan

Source: Malaysia Today

Eileen Ng, The Malaysian Insider PKR lawmaker Rafizi Ramli today revealed documents to prove Putrajaya interfered in the RM32 million Bank Rakyat loan to ‎controversial businessman Deep ...
Source: Malaysia Today   Full article at: Malaysia Today Jul 16 2014, 2:16am CDT

Update: 6

PAS MP claims Bank Rakyat loaned carpet-trader RM215m, interest free

Source: Malaysia Today

(Malay Mail Online) – Controversial businessman Deepak Jaikishan (pic) was given a whopping RM215 million interest-free loan from state-owned Bank Rakyat, a PAS lawmaker alleged today, despite ...
Source: Malaysia Today   Full article at: Malaysia Today Jul 14 2014, 5:52am CDT

Update: 5

MRCB, Nusa Gapurna and PKNS settle suit over RM3 billion PJ Sentral project

Source: Malaysia Today

(The Malaysian Insider) – Malaysian Resources Corp Bhd (MRCB), Nusa Gapurna Development Sdn Bhd (NGD) and PKNS Holdings Sdn Bhd have reached an out-of-court settlement over the ownership of the ...
Source: Malaysia Today   Full article at: Malaysia Today Jun 21 2014, 2:53am CDT

Update: 4

Story behind Syed Mokhtar’s ‘RM2.25 billion tax-exempt’ Bernas deal revealed, says PKR MP

Source: Malaysia Today

(The Malaysian Insider) – An innocuous written reply in Parliament has provided a peek into the cosy relationship between the Najib administration and Malaysia’s best-known businessman, Tan Sri Syed Mokhtar... READ ...
Source: Malaysia Today   Full article at: Malaysia Today Jun 15 2014, 12:56pm CDT

Update: 3

Constitutional monarchy still murky concept

Source: Malaysia Today

After the RM4.5 billion land sale, the Sultan of Johor secured a 15% stake in MOL Access Portal (MOL) for RM396 million and took a 20% stake ...
Source: Malaysia Today   Full article at: Malaysia Today Jun 14 2014, 12:37am CDT

Update: 2

Sultan of Johor’s RM4.5 bil backlash?

Source: Malaysia Today

Has Sultan Ibrahim of Johor’s succession of big money deals over the last six months caused the tide of public opinion to turn against Johor’s royal palace? KiniBiz examines the... ...
Source: Malaysia Today   Full article at: Malaysia Today Jun 11 2014, 8:49am CDT

Update: 1

Putrajaya denies carpet dealer given interest-free loan

Source: Malaysia Today

Eileen Ng, The Malaysian Insider Putrajaya today refuted allegations that Bank Rakyat had allowed carpet dealer Deepak Jaikishan to repay a RM32 million loan without interest following interventio ...
Source: Malaysia Today   Full article at: Malaysia Today Jun 11 2014, 5:44am CDT

Shopping Deals


<a href="/latest_stories/all/all/31" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.




blog comments powered by Disqus

Latest stories

Master of Craft Game Review
Master of Craft Game Review
A brand new role-playing game (RPG), Master of Craft (MoC) is fully rendered in 3D. Avid fans and lovers of RPGs enjoy its unique economy where they are allowed to craft and produce their own armors and weapons. Moreover, players can also operate their market and experience to be a merchant and run their own town. The objective of the game is to build a large empire of buildings and focuses solely on crafting armors and weapons.
Liam Neeson and Natasha Richardson&#039;s Final Moments
Liam Neeson and Natasha Richardson's Final Moments
Liam Neeson's opening up about the couple's final moments before taking Natasha Richardson off life support.
Oakland Raiders Confirm Talks with San Antonio Officials
Oakland Raiders Confirm Talks with San Antonio Officials
The Oakland Raiders confirmed they had discussions with San Antonio, Tex. officials on possibly moving the team to Texas, per The San Antonio Express-News.
Shadow Fight 2 Game Review
Shadow Fight 2 Game Review
The makers of the famous Shadow Fight (a very popular fighting game on Facebook) now present to you its sequel – Shadow Fight 2.

About the Geek Mind

The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.

The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.

Read more about The Geek Mind.