Patagonia’s roadmap for renewable energy network
28/10/2014
The fund, totaling $27 million, will use tax credits to direct Patagonia’s tax dollars for purchases of solar energy systems. Local solar finance company Kina‘ole Capital Partners will make the fund available to all qualified solar installation companies in Hawaii.
Patagonia has also provided a roadmap for organisations interested in leveraging their tax dollars with the potential to build a network of renewable energy.
The company’s investment comes through its $20 Million & Change fund, launched in 2013 to help innovative startup companies bring about solutions to the environmental crisis and other positive change through business. Or, in the words of Patagonia founder Yvon Chouinard, to help entrepreneurs and innovators succeed in “working with nature rather than using it up”.
"This is smart business for Patagonia and good news for homeowners in Hawai‘i, who pay way too much for dirty electricity," said Patagonia CEO Rose Marcario. "I hope other companies see how this strategy can bring strong returns and think seriously about doing the same thing. Business is in a unique position to accelerate the creation of renewable energy infrastructure.”
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