Thanks for your comments, although you probably won't be surprised to hear that I don't agree!
Firstly, I don't think the analogy with sub prime mortgages and the run up to the financial crisis is particularly enlightening or useful here. Then you had an under regulated financial sector lending too much to the wrong people, without any real sense of how much risk was building up and where it lay. My article argues that crowdfunding (partly as an alternative to the big banks) can be a useful way to include ordinary people in what is a relatively safe investment opportunity.
Of course, ALL investment carries risk, and anyone considering crowdfunding or anything else should make sure they know what they're getting themselves into. But because small scale renewable projects (in the UK at least) receive a guaranteed income for the electricity they produce through the Government backed Feed-in-Tariff, I would say the risks are relatively low here.
Whilst you're right to say that in some countries some subsidy schemes have been retrospectively altered even for renewable projects with existing contracts, this is rare to date, has only happened to my knowledge in places that have suffered the very worst sovereign debt crises, and certainly no-one in the UK is suggesting it will happen here. Indeed in much of the financial world the risk associated with Government backed infrastructure is considered about as safe an investment as it's possible to get.
Finally, on the subsidy point, there is a wealth of academic literature out there on innovation theory and how subsidies to help new technologies over the valley of death to commercialisation are actually an essential Government intervention for market failures. Of course these subsidies shouldn't last forever, but given that the costs of solar and wind are coming down so fast, and the fact that in most of the world there is no adequate price for the damage fossil fuels do (a situation now considered by the IMF as a subsidy for fossil fuels), then I think there is ample justification for state intervention in the form of declining and well managed renewable subsidies at this time.
Nonetheless, I do appreciate your thoughts.