Every day consumers and businesses purchase energy from utility companies. But now, some consumers are actually earning an income from utilities that purchase solar power. Now in California, residents can earn income as PG&E energy from a solar installation completed by Pristine Sun, 322 KW solar installation constructed on dual-use farmlands.
Today, Mosaic is offering California residents the ability to invest in the solar project for as little as $25. The total offering is $140,725 and investors are expected to earn 5.5 percent annually over a 10-year period- double the current rate on a 10-year U.S. Treasury bill.
The solar project will generate revenue by selling clean energy produced to PG&E, one of the largest investment-grade utilities in the country, under a 20-year Purchase Power Agreement. The panel installer, Panasonic, has provided the project with a 12-year production guarantee. This means that if the solar projects fail to generate an expected minimum, Panasonic will cover the shortfall in associated revenue.
“Small utility-scale solar projects like this– complete with a low-risk purchase contract with PG&E and top quality components by Panasonic– are the future of utility-scale solar in America,“ said Troy Helming, CEO of Pristine Sun. “As a Mosaic investor, I’m excited to be making our projects available through their innovative and successful platform.”
This partnership between Mosaic and Pristine Sun launches a series of similar solar investment opportunities with competitive returns. Pristine Sun is the leading integrator for PG&E’s Feed-in-Tariff program, and is developing 50 MW of solar power plants in California, enough to power 50,000 homes, to be sold to utilities under 20-year Power Purchase Agreements.
“California contains nearly a third of the entire solar capacity of the United States, but 75% of Californians can’t install solar directly on their homes,” added Billy Parish, President of Mosaic. “We’re thrilled to work with Pristine Sun to provide these opportunities for all residents (over 18) to participate and earn 5.5% returns.”