SolarCity is hot on Wall Street these days, judging by the fact its stock is holding steady and the company has no problem issuing bonds for its various investments. In fact, not only was the company the first in the U.S. to sell bonds backed by rooftop solar panels, it raised over US$200 million during its third debt offering on the markets in three months. Now SolarCity is turning to crowdfunding, albeit a tightly managed program, in order to raise more funds.
The system is akin to Kickstarter or Indiegogo meeting Fidelity or Vanguard. According to SolarCity, the offer to invest in Solar Bonds is relatively simple. You open an account, deposit some money and those funds in turn offer a return from the payments from residential and commercial projects SolarCity has all over the country. Unlike the growing solar crowd-funding juggernaut Mosaic, these funds are not for specific projects; rather they are akin to a mutual fund for current and future SolarCity initiatives. So should investors jump in, or is this the Amanda Palmer crowdfunding campaign of the clean energy sector?Click to continue reading »