Jackson Trevor on GreenBiz writes about Clearloop, a startup that is bringing solar power to rural minority communities.
- Clearloop was founded by three Tennesseans, including former governor Phil Bredesen, with the goal of bringing carbon-free power to southern rural, minority communities.
- Through Clearloop’s unique financing method, which brings together groups of companies to cofund solar projects, smaller companies and communities are able to purchase solar power.
- Entrepreneurs and innovators are creating a cleaner energy future.
“Historically, this type of contract has almost exclusively been offered to companies with high credit ratings. So, for example, if a company such as Google tells a developer that it is willing to buy power from a solar project for 10 years, banks see no risk in providing capital for the project because of Google’s fantastic credit rating. But thousands of smaller companies want to help facilitate the construction of renewable energy sources who may not receive bank financing because they may appear to pose too great a financial risk.”
Read the full article here.