Patagonia Works has agreed to invest $13 million to purchase and install more than 1,000 rooftop solar power systems in Hawaii, where most homeowners currently use electricity generated by coal and oil. Patagonia Works is the holding company created by Patagonia founder Yvon Chouinard in May 2013 to invest in socially-responsible ventures that bring about benefit to the environment. The company will use money from its $20 Million & Change investment fund. Kina‘ole Capital Partners of Hawaii has agreed to raise and invest another $14 million, for a total investment of $27 million. By helping lower-income households buy solar power systems and reduce their electricity costs, the initiative should lower the island's consumption of oil and coal and create local construction jobs. Homeowners will lease the systems and have an opportunity to buy them over time.
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