“Global Challenge, Global Solutions” is a series hosted on Climasphere highlighting inspiring, innovative, and creative global solutions to the challenge of climate change in the lead up to the next major climate conference, COP22. These solutions have been provided by members of the Earth To Marrakech coalition, a group of more than 50 media organizations, civil society groups, and businesses from around the world who are raising their voices in a collective call to move from words to action on climate change. Let’s send a message, from Earth To Marrakech: The solutions to climate change are out there, and they’re inspiring.
Crowdfunded Solar Investments for the Global South
TRINE’s crowdinvesting model for financing solar energy solutions provides electricity to communities that cannot bear the upfront costs themselves, while delivering a financial return for investors. With an investment minimum of only $25, the start-up makes it easy for even small-scale investors to profit from contributing to improve access to renewable energy in developing countries, in the process also improving livelihoods, and mitigating CO2 emissions from sources such a kerosene.
TRINE carefully vets potential projects so it can offer sound investment opportunities to customers. Since its launch in 2015, the platform has helped finance projects for worth more than $150,000, delivering electricity to more than 35 000 people and reducing CO2 emissions by 6,000 tons. The impact from a pilot investment project saw 180% more girls going to school and a 72% reduced usage of kerosene.
RELEVANCE OF SOLUTION
Energy poverty is a critical issue for 1.2 billion people in remote communities around the world.1 Many solar energy entrepreneurs in developing countries are waiting to be able to scale their business with fair loans at reasonable interest rates. The solution fills a financing gap and democratizes financing of solar energy, offering the potential to replace kerosene and other harmful fuels.
TRIPLE BOTTOM LINE:
The company ambitiously estimates that with widespread adoption, the solution can deliver energy access to 48 million people and save 3.7 million tons of CO2 emissions annually by 2026.
By facilitating installation of solar energy as an alternative to kerosene, the platform helps reduce the many deaths caused by inefficient use of solid fuels for cooking.
The growing demand for impact investment projects has seen the solution fully finance projects at record-breaking speed.