PALO ALTO, Calif., Nov. 4, 2014 /PRNewswire/ -- Village Power Finance (www.villagepower.com), a rapidly growing peer-to-peer finance platform for community-scale clean energy projects, announced today it was awarded $500,000 as part of the US Department of Energy's SunShot Initiative. Village Power Finance plans to use the award to add features to its platform, and expand the scope of services supplied to its peer-to-peer investor base and community of energy customers.
"We are delighted about the recognition this brings to our investors, community partners, and team," said Ty Jagerson, CEO and founder of Village Power Finance. "Today, solar and energy efficiency solutions remain inaccessible to thousands of community organizations around the country. This award helps us serve more of these organizations faster."
Village Power Finance's web platform simplifies the clean energy project development and finance process for community organizations, and enables local individuals to co-invest alongside external investors. The web platform also allows community members and local champions to initiate and drive these profitable, clean energy projects from inside their communities. The platform today currently has over 20 megawatts of projects in development in 6 states.
About Village Power Finance
Village Power Finance develops, finances, and manages clean energy assets for community organizations. Village Power Finance projects are capitalized by community members and outside investors who can make market competitive returns from dependable, green, community-based assets. For more information, visit www.villagepower.com.
About the SunShot Initiative
The US Department of Energy SunShot Initiative is a collaborative national effort that aggressively drives innovation to make solar energy fully cost-competitive with traditional energy sources, before the end of the decade. Through SunShot, the Energy Department supports efforts of private companies, universities, and national laboratories to drive down the cost of solar electricity to $0.06 per kilowatt-hour. Learn more at http://energy.gov/sunshot.
3221 Porter Drive,
Palo Alto, California 94304
1412 Broadway, 22nd Floor
New York, NY 10018
SOURCE Village Power Finance