CrowdSourcing vs. CrowdFunding
Whats the Difference?
Crowdsourcing and crowdfunding use mass collaboration to get things done. At Green Power Systems, the use of the crowd is changing how people and communities are connecting to sustainable renewable energy. Both offer innovation that fuels growth and makes anything possible.
At its core, crowdsourcing is synergy at its best (3=1+1). It is leveraged distributed problem solving that lets individuals benefit and achieve a specific goal by working together. Business problems are drilled down to micro-tasks. A renewable energy solution that was once out of reach is now taken to new heights of cost-effectiveness and engagement. With crowdsourcing, an on-demand group of owners tackles projects at any scale to deliver high-value output.
By tapping into the the mass collaboration of the crowd, businesses are able to engage renewable energy solutions that smaller sized customer’s might not have had prior access to … at unprecedented speed. Beyond simply making the unthinkable within the realm of the possible, crowdsourcing offers increased cost effectiveness and faster project delivery.
Like crowdsourcing, crowdfunding taps into the power of the crowd. Instead of tackling micro-tasks, its claim to fame is from a type of micro-funding. Crowdfunding platforms bring together an individual or entity in need of funding with communities willing to dole out cash to provide funding for something they believe in – whether that’s an entrepreneurial product or service, disaster relief, start-ups, artists or something else. The collective contributions fund projects on crowdfunding platforms, such as Kickstarter or Indiegogo, and others and, in many cases, offer rewards or recognition to those who contribute to the large pools of community funding.
With crowdfunding, new technologies find the funding they need to develop. Artists find the financial resources to create films, music or art. Developers fund game development. Disaster relief is empowered with an influx of cash. The limit to what crowdfunding makes possible is really only limited by the creative ways those seeking the crowd’s help find to involve the crowd in funding a project. However it is used, crowdfunding also offers easier source of funding than traditional channels.
What is Solar Crowdsourcing?
There is no doubt in the fact that renewable energy resources will govern the power generation sector in a few years. Solar electric panels are a superior technology compared to coal and gas based power generation in terms of reliability, sustainability & long term affordability.Solar Crowdsourcing aims to break down the initial cost of solar systems by encouraging investors to pool in a small sum of money towards a centralized solar system. Such individual investments potentially add up to a much larger total, making solar power generation a sustainable, viable and affordable solution for all.
Benefits of Solar Crowdsourcing
Solar crowdsourcing has solved the age-old limitation of the solar industry … high initial costs. The investors of a solar crowdsourcing installation can benefit in 2 ways:
- They can receive uninterrupted solar power at their household for a period of 30-40 years (with a 25 year warranty). Hence they are saved from the rising cost of the current grid which suffers from unreliability.
- They can own solar panels OFF-SITE & benefit from the return on investment by selling the solar power to their local utility or to other customers directly.
The solar crowdsourcing principle is scalable, sustainable, renewable energy. Solar power generation requires rooftop space or an area which receives clear sunshine. Not every household is blessed with adequate rooftop spaces to install a solar system. By the help of Solar Crowdsourcing, a centralized solar power station is set-up at a local business or a community shared space (parks, community centers, grocery stores, schools) with adequate rooftop area & the power is distributed to the community from this location. Solar Crowdsourcing provides a solution to end the waiting game as well as build independence among community members who wish to switch from fuel dependent grid electricity to a cleaner form of energy in the name of solar. Solar Crowdsourcing will boost the market penetration of solar systems among the masses as a sustainable & profitable program. The idea is to make solar electricity affordable to every section of the society.