Explore GEN family of websites, social media experiences, blogs and more.

Unleashing ideas.
Strengthening startups.

Back to search results
    Date submitted
  • 15-Feb-2016

End User Financing For Solar

Abstract

Renewable energy is now considered in Nigeria as the messiah that will solve the incessant energy problems being faced in Nigeria.

With over 75% of the population not having access to a reliable and sustainable energy source for electricity and even cooking, this has pushed the market of the generator in Nigeria to the highest globally.As a result, our business has carried out studies and due diligence and found that the reason for the lack of widespread adoption of renewable energy sources is the cost. This has driven us to explore opportunities and we have partnered with Independent Energy in Netherlands who manufacture Solar energy products that we can assemble in the country thereby creating jobs, that could be outfitted with Pay as you go options.

This will allow our teeming customers access to constant energy as they conveniently pay with our structure payment plan that we would monitor remotely to enable our triggering off a system that is too long by default.

These systems called the Izzy will satisfy the needs of both rural and urban communities in Nigeria because the sizes of the units range from 600 watts to 10 kW units.

Video

Original YouTube URL: Open

Introduction Video

Photos

Additional Questions

Who is your customer?

The over 12 Million people in Northern Nigeria. We target both rural and Urban areas and want to win with our close business contacts in Northern Nigeria. WIth a demography of between the age range of `18-65 for households and businesses. Currently, the majority of our market is in rural communities about 60% so far.

What problem does this idea/product solve or what market need does it serve?

Energy, Social and economic development of communities and education

What attributes will make this idea/product successful? Why do you believe that those features will create success?

Because there is a huge need in our target market for energy that is reliable and sustainable and this is the painkiller we bring to ease our customer pains. Renewable energy is cleaner, constant and in the long run cheaper and this is what we are trying to ensure.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

Because of our past work in most of the communities we are addressing due to the UNFCCC CDM project we implemented, Our team is geared up and ready to ensure the success of this business because this is the core of what we do. Without the installation of solar units then we do not have a business and we could all just go home. But we do have a business because of there is a huge need. In a country of about 180Million people and only 25 % of this number having access to clean, reliable and efficient energy sources, there is a market. What we would do differently is that we have a relationship with our customers and walk with them towards ensuring their renewable energy units are what they require and what is optimal. We ultimately ensure they are able to access this system because we give them the opportunity to pay over time and we now have a metering system that ensures they do not default in payment.