What is the name of your organization?
Earthbond
What is the name of your solution?
Earthbond Solar for SMEs
Provide a one-line summary or tagline for your solution.
We use carbon accounting and climate finance to help over 45 million African SMEs switch from petrol & diesel generators to cheaper, affordable solar.
In what city, town, or region is your solution team headquartered?
Lagos
In what country is your solution team headquartered?
Nigeria
What type of organization is your solution team?
For-Profit
Film your elevator pitch.
—
What specific problem are you solving?
African businesses are plagued with unreliable public power grids and high generator costs. In Nigeria alone, only half the population is connected to the grid, frequent blackouts cost the economy over $30 billion in GDP losses annually. Consequently, SMEs spend over $22 billion on diesel and petrol for backup generators.
What is your solution?
Earthbond is a digital one-stop-shop that simplifies the transition to clean, affordable, and reliable energy for over 45 million African small and medium-sized businesses (SMEs). Our comprehensive solution addresses the critical challenge of energy access by offering a range of services tailored to the specific needs of SMEs.The process through our platform is simple, we audit the energy and financial needs of SMBs, recommend a solar installation that can replace their generator, and pre-qualify them for a third-party loan that meets their budget. We simultaneously use that data to calculate their carbon baseline and the expected credits that could discount the overall cost of the system. When a customer accepts, we hook them up with all the pieces and take care of the installation and maintenance over time
Who does your solution serve, and in what ways will the solution impact their lives?
Earthbond's solution serves small and medium-sized enterprises (SMEs) across Africa, encompassing a diverse range of businesses such as pharmacies, medical labs, schools, restaurants, light manufacturers, and agro-processors. These SMEs play a crucial role in driving economic growth and job creation in their communities, yet they face significant challenges related to energy access and reliability.SDG 7, 8, and 11: By facilitating the transition to affordable reliable solar, Earthbond enhances access to sustainable energy sources for SMEs. This not only reduces their reliance on fossil fuels but also improves energy affordability and reliability, ultimately driving economic growth and job creation. We enable SMEs to reinvest their savings into expanding their businesses, creating new job opportunities, and fostering inclusive economic growth within their communities. By reducing carbon emissions and environmental pollution, Earthbond helps create healthier and more livable urban environments and enhances energy resilience and contributes to building more sustainable and resilient communities.
