CloudSolar Offers Option to Renewable Energy Enthusiasts to Buy Solar Panels Even If They Don't Have Roofs

CloudSolar, a Boston start-up company founded by Michael Sun, Cory Absi and Xiaohang Li, is offering a unique way for those who want to promote the use of more renewable energy, particularly solar energy, but can't for one reason or another. Sun himself lives in a rented apartment, and much as he'd like to power to use sunshine to power his appliances, he can't install panels on a roof he doesn't own.

CloudSolar lets people buy a solar panel, or a share in one, on a solar-farm. Electricity generated by the solar panels will be sold to local utilities. From the total sales proceed, solar panel owners are promised 80 percent over the next 25 years, along with assistance in the paperwork that may be needed for possible tax credits they are eligible for. Solar panel owners are given access by way of a mobile device app which allows them to monitor how much energy their panel is producing, and how much carbon dioxide emissions it is estimated to offset. A full panel costs $650, a half panel $450 and a quarter share in a panel at $250 at the Indiegogo crowdfunding site.

The company, which began taking orders on the Indiegogo crowdfunding site this week, at its website's March 26 post, reports: "Thanks to YOU, we've raised almost $278,000 (93% of our campaign goal) from over 196 people coming from 20+ countries! We're confident that we'll reach our goal soon. Our goal is not just about putting up solar panels, it's about giving us all a way to come together and take action on climate change and create a better world."

Each solar panel or partial panel includes a 25-year maintenance contract with CloudSolar, at the end of which panel owners can renew the maintenance agreement or sell their panels back to the company.

Co-founder Absi in an interview with the Boston Globe said: "If you could help the planet and participate in the solar industry by just the click of a button, wouldn't you do it? We want to take all the complexity out of it."