This project looks at the convergence of two big trends – the need to scale up financing for clean energy and the emergence of crowdfunding as a new source of financing for projects and businesses. Financing remains one of the biggest challenges for the clean energy market. Many projects and companies struggle because there is a significant shortage of reasonably priced financing. Meanwhile, significant sources of capital — including individual investors, smaller and less-sophisticated financial institutions, pension funds, sovereign wealth funds, and others — are on the sidelines, looking for opportunities to get in the game. Individual investors, in particular, represent a significant potential new source of capital for clean energy finance. We will assess whether and how crowdfunding can be used to unlock new sources of capital, lower financing costs, and minimize transaction expenses for financing clean energy projects and businesses around the world.