Season 242 Episode 8224
S1 E1 - Nonprofit Finances Community Solar With a Capital Stack That Includes Crowdfunding
"The Community Action Fund CEO Lynn Heller Explains How the Organization Financed Part of Its Community Solar Project On Raise Green AI Episode Summary Devin Thorpe is interviewing Lynn Heller, CEO of the Climate Access Fund. The Climate Access Fund is a nonprofit green bank that focuses on providing low-income households with access to clean energy, particularly through community solar projects. Community solar allows households to sign up for solar power from a project located elsewhere, such as a large tract of land or a rooftop, and receive a discount on their electricity bill. The Henderson Hopkins School project in Baltimore is a community solar project that will provide a 25% discount on electricity bills for low-income households in the neighborhood. The project is unique because it is entirely for low-income households, it has co-benefits such as job training programs and educational components, and the nonprofit owns a portion of the solar asset to share dividends with subscribers. The Climate Access Fund has raised around $350,000 through a crowdfunding campaign on Raise Green. The fund initially hoped to give low-income families the opportunity to invest directly in the project but faced challenges due to mistrust from previous bad experiences with third-party electricity providers. Lynn Heller sees her superpower as having the guts to try things that others may not feel confident in attempting. She is proud of where the Climate Access Fund has come and its ability to carve out a niche in the industry. Lynn advises others to listen and learn from different perspectives, collaborate with well-meaning experts, and align themselves with a team to collectively foster innovation and confidence. http://superpowers4good.com "
