Solar Home's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped to distribute pay as you go (PAYG) solar systems in Myanmar.
Solar Home's story
20+ millions households in Southeast Asia are off-grid and have no access to reliable energy. The existing mechanisms to power homes are hazardous from a health and environmental standpoint (candles, kerosene, lead acid batteries etc). The lack of reliable electricity adversely affects productivity, income, health and education.
Solar Home systems are self sufficient rural home electrification systems in a box. The box contains a Solar Panel, batteries, basic lighting and mobile phone charging ports which address the basic power needs of an off grid household. They distributes these systems to rural households on a rent to own model. The customer pays a small amount upfront and continues to buy energy credits from Solar Home on a flexible payment schedule to ultimately own the equipment after ~24 months. The company has provided solar systems to 300 households till date.
The company will use the loan to invest in marketing, and expanding its distributor network. This help the company have 2,300 systems in place.