Help SolarNow expand financing to this district with 85 more solar home systems with a complementary crowd loan
The projected impact from the solar home systems:
This $50,000 crowd loan to SolarNow is complemented by a $200,000 private investment from SunFunder's Solar Empowerment Fund.
80% of Uganda’s population lack access to electricity, which puts a total of 4 million households off the grid. These households currently spend $4 a week on kerosene, battery charging, drycell batteries, and candles for lighting needs and even more on phone charging services. Of the off-grid households, 1.3 million have disposable incomes that allow them to purchase better quality lighting. These are the ones who will first leapfrog the electricity grid and pave the way for others to join them in switching to solar from kerosene.
There are three reasons why SolarNow solar home systems make switching from kerosene to solar easier than ever:
With over 43 branches in the country, SolarNow customers also know exactly where to go to get support. The franchises identify and educate prospective customers while being responsible for customers' credit assessment as well as the installation and after-sales service. SolarNow also operates its own Customer Care Team to make sure all their customers are satisfied with their products.
All SolarNow products, including the 50W solar home systems in this project, come with full installation, user training and a two-year free maintenance agreement. All product components have manufacturers' warranty ranging from 2 to 20 years.
By 804 People
$0 to go
out of $50,000 Target
SolarNow provides affordable, high quality solar home systems to off-grid households and businesses in Uganda. Their solar home systems range 50 to 500 watts and because they’re modular they can be upgraded over time. Through their network of franchises and by offering a 18-month payment plan to their customers, SolarNow makes solar accessible and affordable for rural, low-income households. Since 2011, SolarNow has sold over 4,000 solar home systems through 43 branches, creating more than 125 jobs.
Loan term: 18 months
Repayment schedule: principal repaid at the end of the loan term, but interest in the form of Impact Points repaid every 3 months
Interest rate: principal repayment only
Impact points: equivalent to 3.5% of interest
|1||September 2014||Interest repaid|
Ntungamo is a district in the southwest of Uganda, about 330 km from the capital Kampala. It is estimated that in 2010, the population of the district was approximately 481,400 (94,230 households), about 95% of which live in rural areas. Around 30% of people in the district live below the poverty line. The majority are subsistence farmers and have no access to electricity, with electrification rate in rural Ugandan areas estimated at below 4%.