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Mission

Mosaic’s mission is to empower millions of people to prosper from clean energy.

History

Mosaic was founded in 2010 by four passionate individuals Daniel Rosen, a Yale graduate, co-founder of the Energy Action Coalition, and the acting CEO of Mosaic. Energy Action Coalition is currently the largest advocacy organization on matters of climate change. Other founders were Derek Best, Billy Parish, and Alastair Jenkins. Mosaic has its headquarters in its birth town of Oakland, California.

Mosaic is a solar project finance organization and the largest residential solar project platform in the United States. The Company enables millions of people to access and reap the advantages of clean energy. This is achieved by providing an avenue through which people can invest their own resources into scalable solar energy projects.

Mosaic got its start by raising $1.1 million from more than 400 investors through crowdfunding, which was meant to facilitate the establishment of six major solar power plants in the states of California, Arizona, and New Jersey. In June 2012, Mosaic further secured a grant of $2 million grant from the US Department of Energy.

In July 2012 the Company raised a further $2.5 million in its Series A funding led by Spring Ventures, Serious Change, Frank Wilder, Steve Wolf, and Tom Chi. Mosaic used this funding to Company used most of this funding to expand its crowdfunding platforms in order to raise more money for the clean energy cause. In July 2013, Mosaic raised $15 million in its series B funding, which was led by Serious Change, Ben Turbell, Blue Haven Initiative, and Bronze Investments, and the California Endowment.

Mosaic initially started out as a solar financing organization that raised funds through crowdfunding, where each investor could contribute as little as $25, money that would be used to fund large-scale solar projects. By 2014, however, the Mosaic had shifted its focus and was now inclined towards providing clean energy to individuals in residential areas and raising funds from institutional investors.

Mosaic would averagely loan individuals $30,000 for solar installation. These loans were structured to be paid over a period of between 10 to 25 years with an average interest rate of 4.5 percent. In 2016, however, Mosaic withdrew the loan options it had introduced in 2014 after mass criticism concerning what was considered by many to be an unnecessarily complex loan payment structure. Mosaic announced that it would be introducing new loan options with multiple term options in the future.

In April 2016, Mosaic received $200 million in funding form New York’s Green Bank and Germany's DZ Bank. This funding was meant to facilitate the installation of 5,000 solar rooftop installations.

Since the Company was founded, Mosaic has continued to further the clean energy cause by funding solar ownership through easy financing programs. The Company has enabled thousands of people to make an easy and comfortable transition to clean energy, a project that would ordinarily be capital intensive. It is estimated that Mosaic will have saved communities an estimated $438,000 in energy bills within the next 20 years of operation, making the company a game changer and a force to reckon with in the energy sector.

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