by Matthew Moroney, New Haven Community Solar
New Haven Community Solar is a new kind of company. Our mission is to give community members an opportunity to invest directly in locally created environmental and social works projects. We present an alternative economic model using crowdfunding to form energy cooperatives that benefit nonprofits and build wealth in communities. Lack of corporate and political accountability led us to create a new form of active corporate ownership from the community. This empowers local leaders with alternative pathways to reduce inequality. We expand economic opportunities for vulnerable groups and accelerate a just clean energy transition by not waiting for corporations to act.
Our first project supplies clean, affordable energy to the formerly homeless with our community non-profit partner, Columbus House. Connecticut has the third-highest energy costs in the country (average of 17.3 cents per kilowatt hour). Installing solar panels for Columbus House steadies their electricity costs and frees up money to support their mission of providing services for homeless and at-risk individuals and families.
(The average residential electricity rate of 17.34¢/kWh in CT is 45.96% greater than the national average residential rate of 11.88¢/kWh. The approximate range of residential electricity rates in the U.S. is 8.37¢/kWh to 37.34¢/kWh. https://www.electricitylocal.com/states/connecticut.)
By investing instead of donating to renewable energy projects, funders have the potential to make a return from the sale of energy back to the grid. This return can be kept, donated to Columbus House, or invested back into building more community solar in New Haven. The investment period is almost over, so we invite the greater New Haven community to review our investment materials today to consider supporting the project at www.startengine.com/new-haven-community-solar.
Our initiative is ultimately a test to determine if crowd-sourced cooperatives can thrive as an alternative to current systems. We envision a future where community finance enables us to own our own futures. If the project succeeds, we will also be providing copies of our project and program documents to help guide other local leaders in creating their own crowdfunded community-owned projects.
For questions, contact Matthew Moroney at email@example.com.