By Diane Cardwell | The New York Times
Just after his sophomore year at Yale in 2002, Billy Parish stood before a rapidly retreating glacier in India that feeds the Ganges River, convinced that he had come face to face with climate change and that he had to do something about it.
It did not take long. Back in the United States, he started a youth coalition that, within a few years, had mobilized thousands of people with similar environmental concerns. He never made it to his junior year at Yale.
In the years since, Mr. Parish has come to another conclusion: that capitalism is a powerful force that can be harnessed to combat global warming. Now 31, he is well into making that his next mission, building an online solar energy investment platform that could turn ordinary Americans into mini-financiers.
Called Mosaic, the company functions like a virtual renewable energy bank, soliciting investments for solar projects and making loans to be paid back, typically, over about 10 years. Mosaic collects a fee on every loan. It is similar to the crowd funding platform Kickstarter, a Web site that matches creative ventures with financial supporters. In the case of Mosaic, with a minimum of $25, investors can earn a return.
Also: A Carbon Tax That America Could Live With
If you’d like to discuss energy issues, contact Court Rich, Co-Chair of Rose Law Group’s Renewable Energy Department at crich@roselawgroup.com
