solarhome
Affordable Pay-as-you-go Solar for South East Asia.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
$2.0m | Series A | ||
| Total Funding | 000k | ||
SolarHome, a Singapore-based startup established in 2016, provides off-grid solar energy solutions to households in Southeast Asia. The company was founded by Greg Krasnov, who currently serves as CEO, and Geert-Jan ten Hoonte, who is the President and COO. Krasnov's background in building a retail bank combined with ten Hoonte's expertise in international retail and consumer finance, shaped the company's mission to bring affordable solar lighting and appliances to millions.
The company's primary market is Myanmar, where a significant portion of rural households lack access to the electrical grid. SolarHome targets this demographic by offering modular solar home systems through a Pay-As-You-Go (PAYG) and rent-to-own business model. This approach makes the systems accessible to low-income families, who make a small initial down payment and then purchase energy tokens to activate the unit for a set period. After two years of payments, the customer gains full ownership of the system. This model addresses the high upfront costs that are often a barrier to solar adoption.
SolarHome's product offerings range from basic lighting and phone charging bundles to more comprehensive packages that include televisions. The systems typically consist of a solar panel, a control box with a battery, and several connectable lights. By providing a reliable source of electricity, SolarHome aims to replace hazardous and costly energy sources like candles and kerosene, thereby improving living conditions, enabling children to study at night, and allowing small businesses to extend their operating hours. As of early 2022, the company had reportedly impacted over 300,000 lives by installing systems in more than 60,000 households across 35,000 villages in Myanmar. The company has plans to expand its operations to other Southeast Asian markets, including Cambodia, Indonesia, and the Philippines.
Keywords: solar energy, off-grid solutions, Pay-As-You-Go, rent-to-own solar, rural electrification, Southeast Asia, Myanmar, renewable energy, solar home systems, clean energy access, energy financing, social impact, financial inclusion, microfinance, sustainable development, energy for homes, lighting solutions, mobile charging, solar appliances, emerging markets