In 10 short days, we raised $8,000 from 200 participants in our first-ever crowdfunding campaign on Kiva. Kiva is the first and largest micro-lending service in the world. They have distributed $709 million over 10 years, in 85 different countries, among 1.5 million small businesses.
The funds from this campaign are going towards building our first 150kW wind turbine. From an environmental perspective, a single 150kW turbine can produce approximately 500,000 kilowatt-hours in a year -- enough to power about 50 American homes. Based on the average U.S. fuel mix, approximately 1.5 pounds of CO2 are emitted for every kWh generated. This means that each 150kW prevents the emission of 375 tons of CO2 each year, which is the amount that could be absorbed by 125 acres of forest and is the equivalent of taking 72 cars off the road. Our goal is to capture 10% of the market share required to achieve the DOE’s 20% Wind Energy by 2030 plan, which equates to the sale of over 10,000 150kW turbines per year, producing 1,500 megawatts (MW), and resulting in an annual reduction of 3.75 million tons of CO2 per year. From an economic perspective, the American Wind Energy Association (AWEA) estimates that each MW of wind power generated provides up to 3 job-years of manufacturing/installation employment. Our annual target of 1,500MW corresponds to 4,500 job-years of U.S. employment.