The New Haven Community Solar offering is now closed and is no longer accepting investments.

New Haven Community Solar

Clean Cheap Power for Low-Income Housing

Small OPO
New Haven, CT
Environment
US Investors Only
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Community Solar Starts With You

Invest in New Haven Community Solar

Buying stock in our company gives you an ownership stake in a community solar array with contracted cash flows for 20 years.

 

Put your money to work making the world a better place. This investment will influence positive change in the lives of low-income residents through reduced utility bills, produce environmental and social impacts, and demonstrate  alternative investment pathways to accelerate the transition to a clean energy economy.

 

New Haven Community Solar will finance a 9.24 kW community solar project located on Button Street in New Haven, Connecticut. The lot on Button Street is the site of this year's annual Jim Vlock First Year Building Project – a partnership between the Yale School of Architecture (YSoA) and Columbus House. Columbus House is a nonprofit organization based in New Haven that serves people who are homeless or at risk of becoming homeless by providing shelter and housing and by fostering their personal growth and independence. Once the power purchase contracts are finalized, this project will provide Columbus House access to low-cost electricity to further their mission.

 

Unique among architecture schools, the Jim Vlock First Year Building Project, which began in 1967, gives Yale students an opportunity to design and build a house in an economically challenged neighborhood in New Haven. The program is mandatory for all first-year graduate students in YSoA, many who arrive at Yale with a special interest in socially responsible design.

 

The Button Street house, which is now substantially completed, contains two units, and will soon provide recently homeless people with a brand new home. New Haven Community Solar is a company that exists to finance solar energy projects that provide low-income residents with cheap renewable energy in a state with one of the highest electricity costs. This project aims to improve the livelihoods of the residents and minimize environmental impacts, while allowing investors to benefit.


Franz Hochstrasser

CEO

The Offering

Investment
$3/Non-Voting Member Unit │When you invest you are betting the company’s future equity value will exceed $114K.


Perks

$999 — If you invest $999, you will receive a piece of commemorative swag.

$1,998 — If you invest $1,998, you will receive a piece of commemorative swag, and you will be invited
to Columbus House open house day when the project is completed!


*All perks occur after the offering is completed

An investment in NHCS is a way to own a piece of the renewable energy future, an investment in a better future, and an investment in community

The Button Street House

Construction is now completed on the house that will host the first NHCS solar array, with a move-in date scheduled before the end of 2019. New Haven Community Solar is financing a 9.24 kilowatt (kW) solar array on top of the house on Button Street. The panels are currently scheduled to be installed in January 2019. The house is the site of the annual Yale School of Architecture Jim Vlock Building Project, which is in partnership with Columbus House.

 

Read more about the house, the design, and the Building Project here.

The Project


The company is financing a 9.24 kW community solar project for the Button Street House, and will provide returns through a long-term contract to sell discounted electricity to Columbus House. Additionally, future revenue may be generated through the sale of the project, through monetization of tax-credits, or through selling renewable energy credits from the clean energy generated by the solar array.


This project will provide Columbus House access to low-cost electricity to further their mission. We believe this project will result in inexpensive power being provided to lower income residents in a state with one of the highest energy costs in the United States. In addition to providing environmental benefits, this project frees up much needed income for its beneficiaries. In a society where income is the greatest social determinant of health, we believe that this project will have significant health-oriented cobenefits as well. We will document environmental, social and financial impacts carefully to steward your investment with the utmost integrity and transparency.


Connecticut residents pay the highest electricity rates among all 48 continental states.

       — U.S. Energy Information Administration, 2018


The Importance of Solar

ENERGY COSTS IN CONNECTICUT

  • Customers in Connecticut on average pay 17.24 cents per kilowatt hour of electricity, almost seven cents higher than the national average of 10.41 cents.

  • On a standard monthly residential bill of 750 kilowatt hours of energy, Connecticut residents pay $51 dollars more than the national average.

  • Electricity rates across the Northeast are higher than other areas of the country.

  • All six New England states and New York rank in the top-ten. 

  • All of the New England states, except Vermont, have mandated renewable portfolio standards (RPS) that require part of the power sold in these states to come from renewable energy.

  • Connecticut directed its electric companies to sign long-term commitments to purchase electricity from various renewable energy projects. 

  • Renewables help cut energy costs by limiting increases in peak demand, reducing system congestion and transmission costs, and reducing the need for various distribution system infrastructure upgrades. (link)


"Current models of financing clean energy systems do not sufficiently serve low-income communities, if they serve them at all. There is a lack of capital to invest in these systems in low to middle income markets. One primary reason is that most nonprofit property owners are viewed by lenders as having limited borrowing capacity for energy related projects... As a result, these solar + storage projects are vastly underrepresented in affordable housing and community facilities across the country. The sad irony is that this lack of financing prevents the types of solar+storage projects that could reduce utility bills and create more resilient power systems for people who need the benefits the most."


- Clean Energy Group Report, 2018 (link)


The Investment

As an individual, you have a chance to fight climate change with your investments. The clean infrastructure of the future is being built right now, and by investing in New Haven Community Solar, you have a chance to own a piece.


The project company for the Button Street house has signed a power purchase agreement which ensures reliable cash flows for at least 20 years. Columbus House, as owner of the Button Street property, will purchase electricity from the project company, and those contracted cash flows will be passed to New Haven Community Solar, which will be periodically distributed to investors.

 

Renewable energy infrastructure is only going to grow in coming years. An estimated one trillion dollars of investment in renewable infrastructure is needed every year to achieve the goals set forth in the Paris Agreement on climate change. 

 

Until recently, only people with access to a lot of money could own and earn money from solar projects. NHCS offers the opportunity to benefit from solar to everyday people, while also bringing benefits to people in the community.

 

In addition to the opportunity to own a part of this project, there are significant environmental and social benefits to investing in this project.

 

By financing the solar array on the Button Street house through an investment in New Haven Community Solar, you will be helping to significantly defray energy costs for the residents. This can make a big difference to low-income individuals, especially in the state of Connecticut where energy prices are among the highest in the country.

 

Preliminary estimates suggest that the New Haven Community Solar array on Button Street will cut carbon pollution and dangerous air pollution, and will provide environmental benefits that are the equivalent of planting an acre of trees. These benefits will be carefully measured and reported to the investors.

Our Passion for the Project

Together, we bring a combined 30 years of professional experience working on energy, environmental and climate change issues, from government, to non-profits and the private sector.

 

Our team is comprised of experienced professionals with a track-record of delivering results on a wide-variety of projects and programs. We are also recent graduates of the Yale School of Forestry and Environmental Studies with a renewed mission to deploy clean energy, combat climate change and fight for social justice through entrepreneurial solutions. We are relentlessly passionate about using financial technology to democratize the ownership of renewable energy, create new income streams, reduce greenhouse emissions, and empower communities to drive change.

Invest in New Haven Community Solar Today!

This offering is an opportunity to buy a share of an innovative project company that is building the clean energy infrastructure, help a great organization and further their mission of addressing homelessness, and have a real impact with your investment. Don't miss it!

In the Press

Construction Starts On New Vlock Home
July 5, 2018

An update of initial stages of the 2018 Jim Vlock Building Project.

Offering Summary

Maximum 35,666 Non-Voting Member Units ($106,998)

Minimum 3,333 Non-Voting Member Units ($9,999)


Company
New Haven Community Solar, LLC
 

Corporate Address
206 Elm St, PO Box 203882, New Haven, CT
 

Description of Business
New Haven Community Solar (NHCS) is financing a 9.24 kW community solar project located in New Haven, Connecticut which plans to provide cheap renewable energy for residents of a house built as part the Jim Vlock Building Project.
 

Type of Security Offered
Non-Voting Member Units (the "Securities")
 
Purchase Price of Security Offered
$3
 

Minimum Investment Amount (per investor) 
$300












PERKS*

$999 — If you invest $999, you will receive a piece of commemorative swag.

$1,998 — If you invest $1,998, you will receive a piece of commemorative swag, and you will be invited
to the Columbus House open house day when the project is completed!


*All perks occur after the offering is completed

Irregular Use of Proceeds

The Company will not incur any irregular use of proceeds outside of the short-term debt obligation noted above. The Company may use some of the proceeds to repay the related party short-term debt note detailed above, at the discretion of the managers. The company will however use all of its proceeds to further the sustainable development of the Columbus House, the people it serves and the building of trust and knowledge in community solar, improved air quality, and better public health, well-being and wealth.

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Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

Interconnection Update: Approval to Install Received

4 months ago

Great news! We have received approval from the local utility, United Illuminating, to install the solar array on the Button Street house. This is the first step toward connecting the project to the grid, and allows us to proceed with installation later this month.

Notice of Material Change in Offering

6 months ago

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the New Haven Community Solar offering. Here's an excerpt describing the specifics of the change:


Issuer has made material updates to their offering which includes but is not limited to use of proceeds, risk factors, deadline date, and the description of business.


When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.

Solar Panels Installation Set for January

7 months ago

New Haven Community Solar has signed a contract with Sunlight Solar Energy - a solar installer with over 30 years of experience, 3,000 installs, and a 10-year workmanship warranty. The panels will be installed on Button Street in January 2019. 

Power Purchase Agreement Signed!

7 months ago

We are delighted to announce that the power purchase agreement providing contracted cash flows for the next 20 years has now been signed with Columbus House! The contract includes a 8.59 cents/kWh price with a 2.8% annual escalator built in. We will have additional updates to the campaign in the coming days.

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