We care less about the channels, and more about the outcome. We do believe that our model is one of the most effective ways to reach our goal. However, whether a nonprofit purchases a system, the system is donated, or it is financed by us (or someone else), the environment benefits and the organization benefits—as do its students. We are happy if others replicate our model, or create their own, as long as the goal is reached.
How our process works:
Educational nonprofits wishing to minimize their environmental impacts while saving money on their electricity bills engage with Bright Minds Solar. Bright Minds evaluates their energy needs and potential solar generation capacity. We use a local subcontractor to design and install a system that will minimize the energy costs for the organization or facility. The organization enters into a long-term contract to purchase the electricity generated by the PV solar system. Bright Minds owns the system and pays for all system installation and maintenance costs for the duration of the contract, after which time we are able to donate the system to the educational organization. Mission-driven investors provide the capital to fund the system costs, and in return receive a competitive rate of return on their investment.
Is Bright Minds Solar a non-profit or for for-profit company?
Our purpose is not to earn profits, but to help accelerate the transition from dirty fuels to clean energy. We feel that the most rapid way to achieve this goal—and provide the most benefit to educational nonprofits—is to unlock as much capital as possible from outside investors. The best way to do that is not only to create a positive-impact investment opportunity, but to offer a competitive return to those investors. Bright Minds Solar may take a very small percentage of the system cost in order to cover administrative expenses. However, unlike for-profit businesses, we are not competing with others to get more business, nor do we have a need to continuously grow. We will expand as necessary to achieve our goal, but in achieving that goal will render ourselves obsolete, or help others in new geographic areas.