Crowdfunding record for solar

For the first time, a solar PV company has managed to collect more than a million Euros in funds from private investors for solar PV plant investments.

Sonneninvest AG has managed to break its 2014 investment record of €442,750 (US$507,878) for its solar park Langenbogen with this year’s current crowdfunding sum.

The second crowdfunding launched by Sonneninvest on the Econeers platform seeks investors for three solar PV plants. The Meerane, Sangerhausen and Kornwestheim PV plants have already been feeding around 1.65 million kWh into the German grid for a few years now. The investors have contributed $741,879 so far via Econeers. This brings Sonneninvest’s total sum gathered to over a million.

The operator Sonneninvest receives a fixed remuneration according to the German EEG. Revenues are guaranteed at least until 2024. Investors who participate in the crowdfunding will receive a basic interest rate of 4.5% for their capital annually for a period of nine years. In five years, there is the possibility to terminate participation. In sun-rich years, during which the solar PV plants produce more solar power than on average, an additional bonus interest rate of up to 0.5% is possible.

Sonneninvest’s CEO Michael Richter believes that via such investment everyone can be a part of the Energiewende and produce solar power even without an installation on their rooftops. The second crowdfunding round is still seeking investors and will end September 16, 2015.