Micergy

Globally, 1.2 billion people lack access to electricity, energy access is critical for inclusive economic growth and is supported by UN Sustainable Development Goal (SDG) 7 to ensure access to affordable, reliable, sustainable and modern energy for all. The affordability is one of the biggest obstacles that stop the 1.2 billion people from using solar power, which is proved to be the fastest way to realize universal electrification, to solve the problem of affordability, Pay-As-You-Go as an innovative business model was introduced to the solar home system industry. PAYGo business models allow users to pay for their products via technology-enabled, embedded consumer financing. A PAYGo company will typically offer a solar product (predominantly solar home systems and multi-light pico devices) for which a customer makes a down payment, followed by regular payments for a term ranging from six months to eight years. Payments are usually made via mobile money, though alternative methods in...