Innovative and Inclusive Microfinance for Renewable Energy by Greenlight Planet
Apart from the lack of access to the electrical grid, rural communities in the Philippines pay much more for electricity than almost anywhere in Southeast Asia. While other options are available, rural communities have less access to solar-powered solutions because of distribution, financing, and maintenance gaps. Greenlight Planet and ASHI’s collaboration provides a success story for how green lending by microfinance institutions can help their clients improve their quality of life through energy access. ASHI's clients who have invested in Sun King solar products report 45% longer study time for their children, 86% of households feel that domestic chores are easier to accomplish and with proper lighting, 97% feel safer, with a lower risk of fires and injuries at night. Extending such collaborations within the industry and with other industries only help communities to gain reliable access to lighting and businesses towards UN’s SDG 7.