Last week Future360 had a skype interview with Mosaic founder Billy Parish, a young man who’s online crowdfunding platform may end up providing the keys to unlock a solar revolution in the United States.
Despite the overwhelming popularity of solar power, U.S. politics have been hostile to the budding industry. Established fossil fuel industries continue to enjoy generous government subsidies to the tune of about $10.4 billion per year* while renewable power gets a meager $1.7 billion (that’s solar, wind, geothermal, biomass, and hydro put together)! In addition, the current Master Limited Partnership rules are written to provide tax-advantages for fossil fuel investors while prohibiting these same rules from applying to solar and wind, even though solar and wind industries have been shown to create far more longterm job opportunities per dollar invested.
Even with all these obstacles, banks still want to invest in solar projects. They see it as a business about to boom, but they are just not set up to finance small $100,000 installations. Mosaic attempts to fill this gap.
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