Bettervest – the world’s first crowdinvesting platform for energy efficiency project has agreed to finance the acquisition and sale of 435 Solar Home Systems (SHS) for Solarmate.

The systems will be installed in Nigerian households to provide clean, off-grid energy. The sale of these systems will focus on the areas in and around Lagos and should be completed within 9 months of successful financing.

Technology

Solarmate offers its customers three different variants of the SHS of 50 W, 100 W and 200 W. All variants consist of solar modules, commercial lead-gel batteries, charge controllers and inverters. In addition, the SHS have a radio, 3 LED lights, a USB port and a flat screen TV. The 100 W and 200 W variants also offer a fan and the 200 W variant is still a refrigerator included.
To the systems Pay-As-You-Go payment plans are offered in an energy meter (PAYG), whereby an installment financing can be implemented. This also allows customers with low and unregulated income to purchase such systems. Solarmate offers its customers a three-year warranty on all individual parts or the entire system.

Social Impact

Solarmate wants to improve four areas of well-being with its product:
1. Financial freedom
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3. Human health
4. Environmental health.

Likewise, Solarmate creates jobs in each community by training and enabling technicians to perform subsequent installations, incident visits, and a degree of maintenance.

Climate Protection

Assuming that all 435 solar home systems are installed and that a system saves an average of 2.67 liters of fuel per day, conservatively speaking, this would save 1170 tonnes of CO 2 per year. Thus, this project provides 4 years of emission reduction of 4680 t CO2 .