Off-Grid Solar Gets $45 Million in Four Months
During the first four months of 2014 nearly $45 million was invested in off-grid solar according to the Huffington Post. The companies that received investments include BBOXX ($1.8 MM), d.light ($11 MM), M-Kopa ($20 MM), Off.Grid:Electric ($7 MM), and Little Sun ($5 MM). Further substantial investments in off-grid solar are expected in the very near future.
A key driver of these investments is no doubt the role of remotely controlled and monitored solar equipment, enabling flexible payment models and the collection of valuable electricity consumption data. Both BBOXX and Off.Grid:Electric offer mobile payment plans, as well as M-Kopa, which distributes d.light devices.
By leveraging digital payment services such as Airtel Money and flexible, pay-as-you-go payment plans, Powerhive and other off-grid solar companies have been successfully addressing the energy access problem. The investment activity during the last several months is a crucial external validation, demonstrating the viability and bankability of our solutions. But perhaps more important than the speed and sum of these investments is the investors making them – highly credible organizations that are well known for making good investments.