Crowdfunding: How it could save the planet
Crowdfunding: How it could save the planet:
To date, people have used crowdfunding to help albums, books, and even that most British of institutions, a fish and chip restaurant, get off the ground.
But in the energy sector, crowdfunding is increasingly being used as an alternative way to finance renewable energy projects, enabling smaller companies to develop renewable projects with a degree of independence that is not usually seen with bank financing or investment by a large corporation.
The pace of this change is gaining momentum. In the UK, funding site Abundance Generation was launched in 2011, and allows people to invest in renewable energy projects. Since its launch, over 1,000 people have invested more than £5 million ($8.4 million) in 'ethical and sustainable energy projects'.
