CloudSolar, a Boston-based startup, launched a campaign on Indiegogo to raise funds for their first solar power farm with a fundraising goal of US$300,000. Individuals who participate in will receive solar panel ownership for contributing towards CloudSolar’s first solar farm. CloudSolar will purchase the land, provide the panels and install and operate the facility. Contributors will receive 80% of the revenue generated.
CloudSolar’s co-founders, Michael Sun, Cory Absi and Xiaohang “X” Li, know that solar power isn’t an option for all homeowners. Roof conditions and costs associated with purchasing and installing solar panels are just two reasons why people have been restricted from joining the solar energy movement – until now.
“I am especially drawn to the way CloudSolar allows consumers the opportunity to be active participants in a comparatively low cost solar energy initiative,” said Joseph Lassiter, faculty chair of the Harvard Innovation Lab and advisor to CloudSolar. “I am excited and eager to watch the team’s dream reach the mainstream.”
“We are excited to provide an avenue for essentially anyone to contribute to the solar energy movement,” said Cory Absi, co-founder of CloudSolar. “We’re confident CloudSolar’s business model is going to revolutionize the way everyone participates in the renewable energy movement.”
The initial goal of $300K sought by CloudSolar will be enough to fund operation and administration of the company’s first solar array. Funding beyond the $300K goal will be used toward expanding the business. The CloudSolar team has surveyed top locations across the U.S. where solar energy can thrive for consumers.
Click the link to contribute! CloudSolar: Own solar panels, no roof required