Financing Solar Power

Scidev on what works in the renewable energy financing space:

The two most promising ones involve making it easier for people to buy the systems and also promote some method of long-term maintenance, she says. People can take out a microfinance loan from a bank or microfinance institute and buy direct. Or a non-governmental organisation (NGO) or social enterprise installs systems in return for payments spread over an agreed period.

and what doesnt:

"Part of the reason why solar projects have failed in the past is because there is a lack of ownership. Aid can create dependency and doesn't empower people to do things for themselves, and can undermine the skills and capacity that already exist in countries."

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photo courtesy of Barefoot Solar Engineers