The US Department of Energy SunShot Initiative granted solar financier Mosaic a second award in the amount of US$650,000 to support its home solar loan programme that should help the initiative’s mission to make solar a cost-competitive energy source by the end of the decade. This award adds to the US$2 million award Mosaic received in 2012 from SunShot.
The award was part of a number of grants announced by US energy secretary Ernest Moniz at the SPI exhibition in Las Vegas.
According to the company's statement, Mosaic said it plans to use the awarded money to fund its loan programmes that offer some of the lowest monthly payments of any loan on the market.
Billy Parish, co-founder and president of Mosaic said: “We're thrilled to receive a second round of funding from SunShot's Incubator programme and to be joined by the solar industry's brightest innovators.”
As of now, the US Energy Department has invested more than US$14 million in 20 small businesses to “rapidly commercialise innovative solutions that further drive down costs for solar systems”.