14 DAY TRIAL // Oakland Solar Mosaic is the first pilot program set up in Oakland, California, that tries to explore the benefits coming from solar energy without relying on funds coming from local banks.
Instead to depending on loans which might turn out to increase the project's total costs, the officials behind this strategy are trying to get the community's interest and support.
The project is based on the support of a peer-to-peer lending system. Therefore, all individuals who want to explore the benefits of alternative energy are welcome to show their support, by investing in this strategy and also, in their community's future.
Representatives talk about a win-win situation, since their contribution generates profit for the supporters, while also helping those in need.
With as little as $100, the investers can give a boost to their local economy, by creating jobs for young people who have just graduated green training programs, while also taking care of the environment.
The commitment to green values is visible, since the energy needed won't be provided by traditional sources of energy which act as polluters. Instead, the whole system relies on clean, renewable power coming from the sun.
This is not just philanthropy, since their financial efforts are expected to pay off.
As part of their plan, representatives desire to establish a connection between those who provide solar power and members of the community who want to use it.
They work to create a partnership between Solar Mosaic company and Oakland’s Ella Baker Center for Human Rights. The solar energy provider will be able to generate 140 kW of solar energy, an amount which is enough to respond to the demand of 28 households.
This target will be achieved after the company succeeds installing solar panels on the roofs of several buildings, whose owners have already announced their commitment.
The first participant that announced its intention to join the Solar Mosaic platform is The Asian Resource Center, a non-profit organization which has made its presence known in fields such as health care, housing or environmental justice.
After applying the benefits of this peer-to-peer lending system, the company will be able to save about $100, 000 after paying the energy bill.
If this innovative strategy is expanded on a larger scale, all across Oakland, its inhabitants will learn the green lesson of investing in both their business and community.