Solar Love
  • Rooftop Solar
    • Energy Storage
  • Solar Panels
  • Policy
  • Research
    • Science
    • Market Research
    • Solar Perceptions & Polls

Solar Love

  • Rooftop Solar
    • Energy Storage
  • Solar Panels
  • Policy
  • Research
    • Science
    • Market Research
    • Solar Perceptions & Polls
Solar $Startups

Microfinancing For Home Solar Bringing Solar Power To Tens Of Thousands In Sri Lanka

by Zach February 23, 2013
written by Zach February 23, 2013
Microfinancing For Home Solar Bringing Solar Power To Tens Of Thousands In Sri Lanka

About 1.6 billion people don’t have reliable electricity from the grid. The good news is that solar power is now cheaper than diesel for the huge majority of these people, and innovative companies and organizations are working their way into developing countries to get electricity to more and more people. One such innovator is Sarvodaya Economic Enterprise Development Services (SEEDS).

SEEDS “has financed the installation of around 52000 solar home systems (SHSs) in rural areas of Sri Lanka,” the YouTube page for the video below indicates. Here’s more on the great working being done there:

Grid electricity extends to about 55% of Sri Lanka’s population, but to only 40% in rural areas. The infrastructure is gradually being extended; but there is a shortage of generating capacity, since the generation of power has not increased alongside an ever-increasing demand. The average rural family in Sri Lanka spends 19% of their income on energy, and many can afford off-grid electricity with a suitable credit system. SEEDS works through accredited solar installers to identify potential loan customers. These loans enable poor households in rural areas to purchase SHSs, and receive the benefits of improved light, communications and entertainment. The monthly repayments are set at a rate which the household can afford to pay, and the loans are paid back over a period of one to four years. Local field officers employed by SEEDS collect monthly repayments, and also carry out checks and minor repairs to the systems. SEEDS has financed the installation of around 52000 SHSs (out of a total of 71000 installed in Sri Lanka) since 1998.

Good stuff.

microfinancingSarvodaya Economic Enterprise Development ServicesSEEDSsolar financingsolar microfinancing
0 comment
0
FacebookTwitterPinterest
Zach

is the director of CleanTechnica, the most popular cleantech-focused website in the world, and Planetsave, a world-leading green and science news site. He has been covering green news of various sorts since 2008, and he has been especially focused on solar energy, electric vehicles, and wind energy since 2009. Aside from his work on CleanTechnica and Planetsave, he's the founder and director of Solar Love, EV Obsession, and Bikocity. To connect with Zach on some of your favorite social networks, go to ZacharyShahan.com and click on the relevant buttons.

previous post
Panasonic Claims Solar Cell Efficiency Record Of 24.7%
next post
Los Angeles Department Of Water & Power Gets Flood Of Solar Applications

You may also like

EDF Renewables Commissions 110 Megawatts Of Solar In...

October 30, 2018

Solar Bids In India Decline After Duty Reprieve

May 16, 2018

India Plans 20 Gigawatt Solar Tender To Circumvent...

May 16, 2018

Invenergy Signs PPA With Georgia Power For 160...

May 14, 2018

India’s Largest Solar Cell Manufacturer Charts Aggressive Growth...

May 10, 2018

SunPower Reports Topsy-Turvy First Quarter Earnings

May 9, 2018

JA Solar Reports Strong 2017 Financials, Ships Record...

May 7, 2018

First Solar Reports Strong Start To 2018 As...

May 7, 2018

Global Solar PV Inverters Market To Decline From...

April 25, 2018

As Solar Bids Firm Up, Indian State Cancels...

April 24, 2018

Follow Me

Facebook

Recent Posts

  • Meet PVCase: A 3D Solar Design Software That Every PV Designer Should Consider

    June 12, 2019
  • Mitsui To Partner With Indian Company For Distributed Solar Projects

    June 10, 2019
  • India’s NTPC Offers Solar Project Management Services To ISA Members

    June 9, 2019
  • Equinor & Scatec Solar Complete 162 Megawatt Brazilian Solar Plant

    November 29, 2018
  • Gamesa Awarded 400 Megawatt Solar Project In Egypt

    November 29, 2018
  • Facebook

@2019 - All Right Reserved solarlove.org


Back To Top