SolarHome

SolarHome operates as a pioneer in the Pay-As-You-Go (PAYG) solar energy sector, targeting off-grid households across Southeast Asia. The Singapore-based company was established to address the significant energy gap in the region, where millions of people lack access to a stable electricity supply. SolarHome was founded in 2016 by Greg Krasnov and officially launched in January 2017, seeded by the fintech venture builder FORUM. Krasnov, who also founded FORUM, was inspired by the successful PAYG solar models in Africa and saw an opportunity to apply a similar financially inclusive approach in Asia.

The company's business model is centered on a rent-to-own subscription service, making solar power accessible to low-income families. Customers make a small initial down payment, as low as US$10, for a solar home system and then make subsequent payments on a daily, weekly, or monthly basis. These micropayments can be made through accessible methods like scratch cards or mobile money. After a contract period, typically around two years, the household gains full ownership of the solar unit. This structure not only provides a cleaner and more reliable alternative to kerosene and candles but also helps customers build a credit history, potentially opening access to other financial services.

The leadership team combines deep experience in consumer finance and retail. Founder Greg Krasnov has a track record of over 20 years in consumer finance and early-stage investing, including founding and exiting a retail bank in Eastern Europe. He brought in Geert-Jan ten Hoonte, who has over 30 years of senior experience in retail and consumer finance in emerging markets, to serve as President and COO. Ted Martynov was a co-founder and served as the initial CEO, leading the company through its early growth phase before Krasnov took over the CEO role in March 2019.

SolarHome's primary market of operation has been Myanmar, a country where a significant portion of the rural population lives without a connection to the national electricity grid. The company established a robust distribution network with multiple operational hubs and hundreds of local field sales and installation staff. Its product line ranges from basic lighting and phone charging systems to more premium bundles that include appliances like televisions. By late 2020, SolarHome had successfully installed systems in tens of thousands of homes, demonstrating significant traction and market leadership in Myanmar.

Keywords: Pay-As-You-Go solar, off-grid energy, Southeast Asia, Myanmar, rural electrification, solar home systems, rent-to-own, microfinance, financial inclusion, clean energy access, sustainable development, impact investing, consumer finance, energy subscription, last-mile distribution, mobile money payments, renewable energy solutions, emerging markets, social enterprise, energy-as-a-service