How to solarize your neighborhood☀️🌅
V.1, N.15
Forget about all the hot air last year from Glasgow and from do-nothing national governments. The real work of carbon reductions is happening locally. Last week, I had a great conversation with Neighborhood Sun, a small company near where I live in Maryland that enables customers to invest directly in local solar energy “farms.” You don’t need to hassle with solar panels on your roof. Just find a producer near your neighborhood, invest a few bucks, and enjoy the savings. In fact, Neighborhood Sun guarantees you a lower utility bill – even if you’re just a renter. The company has been a star performer on The Maryland Neighborhood Exchange, where it raised more than $1 million in its last investment raise.
One thing that could distract investors from community solar, however, are national and global financial institutions that boast high “environment, social, and governance” (ESG) standards. Third-party financing supports as much as 83% of all rooftop projects, but not all of the institutions connected to this marketplace are really helping. To focus some sunshine into this market opportunity, our lead piece in this issue profiles Finite – a new financial technology platform that pools solar projects so individuals, like you, can invest directly. Although not specifically local investing, it’s a step in the right direction. If you shop around (search for “community solar”), you may be happily surprised to find a company like Neighborhood Sun in your state looking for investment.
Also in this issue: expanding community land trusts in Indianapolis, growing support for public banking in New York State, and a new UK law facilitating worker buyouts of failing companies.
Finally, the clouds are soon to part on our new website, and we want to include you as part of our first class of Main Street Champions (aka a local investing leader). Please sign up below!
– Michael Shuman, Publisher, The Main Street Journal
NEWS
Bringing Direct Solar Investment Opportunities To The Average Investor, Forbes (January 6)
Indianapolis Community Leaders Form Land Trusts To Tackle Affordable Housing Shortage, Indiana Business Journal (January 14)
Bill Supporting Worker Buyouts of Failing Businesses Passes First Reading in UK’s Parliament, Co-op News (January 12)
150+ NY Groups Back Public Banking Bill to Declare 'Independence From Wall Street', Common Dreams (January 11)
PARTNER VOICES
2020-2021 Annual Report: How System Change Happens, The Democracy Collaborative (January 5)
Firebrand Artisan Bread Gives Good Jobs To Formerly Incarcerated & Formerly Homeless, Jenny Kassan (January 4)
The Case for Investing in Employee Ownership, Marjorie Kelly & Karen Kahn, Stanford Social Innovation Review (January 3)
FEATURED EVENT
Indigenous Communities Investor Club – Webinar. Wednesday, February 16, 11:30am-1:30pm ET. Sponsored by the Impact Finance Center and Oweesta Corporation.
ICYMI
An Employee-Owned, Community Wealth-Focused Cannabis Startup, GlobeNewswire (January 5)
6 Public Policy Solutions to Watch for In 2022, Next City (January 3)
Business Models for Employee Shared Ownership, European Federation of Employee Share Ownership (January 1)
Could Small Still Be Beautiful?, The Craftsmanship Initiative (January 2022)
JOBS BOARD
Mission Driven Finance is seeking a full-time Senior Associate of Knowledge Systems (can be fully remote)
BECOME A MAIN STREET CHAMPION
Have you always wanted to start a local investment club? A website of local investment offerings in your community? A local investment study group? Whatever your interest or ambition, we invite you to “go public” to help others in your region find you, scheme with you, and start a local investment movement in your community. Our goal is to identify dozens, then hundreds, then thousands of Main Street Champions like you across America. We already have Main Street Champions across the U.S., from San Luis Obispo, CA to Providence, RI, and even Australia! Together, we can move our hard-earned savings from Wall Street back into our communities. Fill out the intake survey below to join this first cohort!
SOME OF The MSJ’s VINTAGE ISSUES
About The Main Street Journal
The Main Street Journal aims to catalyze the movement of $50 trillion from Wall Street to Main Street to facilitate economic development and economic justice. It’s sponsored by the National Coalition for Community Capital, with a grant from the Heron Foundation. We welcome feedback about everything, from our design to content. And we welcome suggestions of other groups to involve as partners, and other information to include. Please send ideas to Sophia Leswing at sophia@main-street-journal.com.
PARTNERS
We welcome any nonprofit or for-profit committed to local investment as a partner. If your organization is interested, please contact Sophia Leswing at sophia@main-street-journal.com.