Mosaic’s first major offering to investors was in January 2013 to finance solar energy for four affordable housing developments in California. The online offering sold out in less than 24 hours, bringing in more than $313,000 from over 400 investors. With shares priced at $25, the average investment was $700. The estimated rate of return is 4.5% over nine years. The performance of this initial offering demonstrated huge pent-up demand to invest in renewables and tremendous potential for non-profits to share in the benefits of going green. Mosaic has expanded to financing solar on schools in Colorado and community centers in New Jersey.