Business + Finance

How crowdfunding might secure energy access

Creative thinking and disruptive solutions could be the only and best responses to energy poverty in developing countries.

Energy poverty is a critical issue afflicting a billion people every day in developing countries where creative thinking and disruptive solutions could be the only but also the best responses. Countless communities are regularly plunged into darkness through weak power grids and the mismanagement of state-owned enterprise. Despite promising signs of economic expansion in some of these places, prospects for real change are stunted economic growth and a growing frustration of being left behind the rest of the world.

While much was made of the Prime Minister’s allegedly indifferent performance at last year’s G20 summit, the Australian media largely ignored his success in securing a global political commitment for more inclusive energy institutions, strengthening of energy markets, enhancing energy security, phasing out of inefficient fossil fuel subsidies, and generating support for sustainable growth and development. These landmark goals are encouraging but the challenge is improving energy access which requires what some commentators are calling a ‘disruptive approach’ to finance, technology and customer engagement.

The key to success appears to be managing consumer expectations.

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