New Cycle Capital, Draper Fisher Jurvetson Invest $12.2 Million in PACE Solar Renewable Funding
Renewable Funding’s PACE (Property Assessed Clean Energy) solar funding, begun by Cisco DeVries with Berkeley First was a breakthrough in making solar affordable. Now VC high-flyers Draper Fisher Jurvetson, New Cycle Capital, and RWE Ventures have just invested $12.2 million in a first round of financing to make this sober and sensible solar funding available to more homeowners.
Renewable Funding is a business in the Common Good. And it could be big too. There’s potentially a gigaton of greenhouse gas reductions to be made, at no cost to local, state, or federal governments from a $280 billion potential market in PACE solar funding in the US, acording to a UC Berkeley study published in Environment Magazine.
