CloudSolar launched the Indiegogo campaign to raise $300,000 for the company’s first solar power farm, which will allow everyone to benefit from solar energy.
“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.
Under the crowdfunding campaign, individuals who contribute towards the first solar farm will receive solar panel ownership. Contributors will receive 80 percent of the revenue generated.
“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 Boston-based solar energy startup will purchase the land, provide the panels and installation, and operate the facility.
The initial funding will be used to operate the solar array; additional funding will be used toward expanding the business.
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