- 1. We fund the Brighter Classrooms Escrow account and will display the live account balance on our website.
a. SolBid will put 4.8% of gross profit from every project sale
b. Additional Investments from outside sources: Ex: Indiegogo or Donations
* 10% of funds contributed will be put towards administrative costs and outside contributions are not tax-deductible
- 2. Once the account has reached the target amount of $100k, we then identify the 3 disadvantaged and deserving schools across the U.S. based on a up-to-date listing of our nations school districts and the following criteria: Local educational funding; Recent budget cuts; News of teacher layoffs; and pupil to teacher ratios.
- 3. SolBid then offers all contributors involved the option to bid on the school the feel most deserved, we select the winner and we make the contractual arrangements for the donation.
- 4. With the $100k, SolBid will then source a solar energy system of about 20kWh in size for donation and outsource the installation to a local solar energy installer for commissioning.
- 5. During the installation, SolBid founders will spend a day at the school to educate the faculty and students the value of the solar energy system that was installed and how it will benefit them, the school and the environment.
- 6. Following commissioning of a donated solar energy system, we will launch a PR campaign highlighting all of the contributors involved.
- 7. We will include the schools: name, city and state on our website and will display the live energy data from each of our donated solar installations.
See how it helps schools here