California-based solar crowd funder Mosaic has received approval from regulators to offer US$100 million worth of solar investments to California residents.
Following approval, Mosaic has launched the first of a series of solar projects available for investment.
“California has always been a leader in solar energy. We’re thrilled that now any resident of California can invest directly into solar energy for as little as US$25,” said Billy Parish, president and co-founder of Mosaic.
In January Mosaic launched its first return-on-investment solar projects to the public. All four projects sold out in less than 24 hours. Mosaic raised over US$313,000 for the projects in California and New York, attracting investments of between US$25 and US$30,000 from more than 400 individuals.
To date, Mosaic has raised over US$1.1 million from more than 1,000 investors to finance twelve rooftop solar power plants in California, Arizona and New Jersey.