*4.6. Crowdfunding Model in Ireland*

A review of eight renewable projects illustrates the use of di fferent types of crowdfunding rewards and returns [7]. The choice of platform depends on the business model, lending, equity, reward and donation and the funding/investment amount and needs to be appropriate for the level of crowdfunding risk [46]. Not all the crowdfunding business models are applicable for solar projects. Lending, debenture and equity- based crowdfunding are the most common approaches for financing solar projects in the crowdfunding platforms [46].

This study provides a reference for policymakers in the country and industry practitioners to understand the approaches and processes involved in solar crowdfunding [46]. The system dynamics model outlines the combination of three stage solar crowdfunding process including the identification of potential SCF adopters, factors a ffecting the adoption and success of SCF, each stage involves numerous factors that shapes the feedback loops impacting the SCF market and provides a perspective to understand the mechanisms and complexity involved in solar crowdfunding which complements the qualitative methods [46].

The successful funding of the community is dependent on investor's motivation, confidence factors as well as restrictions of the governmen<sup>t</sup> [46]. Feedback from experienced crowdfunding participants suggested the campaign needs to convey credibility and create demand by setting the lowest possible funding amounts, decreasing the profit margin with rewards which are tangible to backers and create a short video outlining project [53]. A summary of findings is presented in Table 5.


**Table 5.** Summary of findings.
