By Frank Andorka, Senior Correspondent
What Happened: Yann Brandt sat down with Blake Jones and Terri Mickelsen, the driving forces behind the Colorado-based Clean Energy Credit Union (CECU), which they expect will:
- provide loans to people who want to invest in products like solar installations, electric vehicles, energy efficiency and other similar investments.
- give new clean energy markets another financing option.
- It’s also important to note the CECU is a federally insured credit union, where advocates and enthusiasts can put their money and feel good about how their money is being used.
SolarWakeup’s View: I can’t believe someone hasn’t done this already.
Yann Brandt, managing editor of SolarWakeup, flew to Colorado to chair a panel at the Colorado Solar Energy Industries Association (COSEIA) conference with Blake Jones and Terri Mickelsen, the driving forces behind a new solar financing vehicle called the Clean Energy Credit Union. As Jones says, it’s a place where clean energy geeks can park their money and know that the loans it is used for align with your values.
I say it surprises me that no one has done this already, but that’s not really true. After listening to the podcast, I have a much greater appreciation for the hurdles Jones and Mickelsen had to clear before they could even open the credit union for business. As a “21st century financial institution,” of course, the entire operation is online – and the savings collected from not having brick-and-mortar locations will be passed on to borrowers in the form of lower interest rates.
The podcast is quite mesmerizing. It’s not an easy road Jones and Mickelsen (and the rest of the team at CECU) have chosen. But they are confident that they are starting a movement that will draw more traditional financial institutions into the space and make loans for clean energy as ubiquitous as car or home loans.
Here’s wishing them the best.
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