CloudSolar Helps Renewable Energy Fans Who Can't Install Their Own Solar Panels
Catherine Shu for TechCrunch: Solar panels are becoming increasingly affordable, but many people still face barriers to harnessing the power of the sun for their own homes. For example, they might live in an apartment or in a house where the roof is angled or structured improperly for solar panel installation.
A new Boston-based startup called CloudSolar is offering an intriguing solution. Founded by a team including two electrical engineering Ph.D. candidates and currently raising funds on Indiegogo, CloudSolar lets people buy a solar panel, or a share in one, on a farm that is expected to be completed by 2016 (erecting the solar panels will only take a couple of months, but the company also has to deal with utility and land permits, which will take longer).
Once the farm is up and operating, electricity generated by the solar panels will be sold to local utilities. Solar panel owners are promised 80 percent of the total proceeds created by the panels over the next 25 years, and help with applying for whatever tax credits they are eligible for. They can monitor how much energy their panel is producing, and how much carbon dioxide emissions it is estimated to offset, through an app.
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