29228

The GreenLight Bulb

Kenya
Market: Trade, Electronics
Stage of the project: Prototype or product is ready

Date of last change: 08.06.2018
Min amount of loan
$  10.000
Estimated yield
3 % a year
0
Total required
$ 120.000
Rating
equalizer 235 from 1000
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Idea

Our company is on a mission to supply cheap, clean and affordable solar power to the thousands of rural, off-grid Households by eradicate the use of kerosene lamps and assist families embrace solar light for home use.

Current Status

My Project is a finished product.The Solar Kit consist of A solar panel,4 Bulbs,a battery, Radio and Phone charger.
The high upfront cost of solar equipment has made it difficult to compete against other sources of power.

Investing in solar energy may have a lot of benefits and save lots of money in the long term, but many African families can simply not afford the high initial capital.

However, all of this is changing. Over the last decade, a lot of progress has been made in solar technology – making it cheaper, reliable and more efficient. As a result, solar power equipment prices have been falling, and are now within the reach of many Africans.

We are looking forward to install 1,000,000 solar kit in houses by 2020

Market

In comparison with other East African countries, the overall outlook for the solar sector in Kenya is good:

Kenya is the most politically stable East African country with a liberalised economy that has seen steady economic growth over the past ten years.
Much of the country is off-grid. The country’s large geographic size combined with the limited reach and capacity of the grid ensure that off-grid solutions will be the only plausible source of power.
A number of economically active sectors are located off-grid and will purchase PV systems provided that they are convinced they work. As well, households and small businesses in agricultural areas (cashew, tea, coffee, cotton, sisal and sugar) have cash and will pay for PV systems to electrify their homes and premises.
PV sales have been growing at a sustained rate of over 15 % per year for the last five years.
Off-grid, the costs of running generators sky-rocketed in 2008. PV and battery back-ups are increasingly viewed as viable alternatives to gen-sets.
Within planned rural electrification programmes the Rural Energy Agency will make procurements for solar PV systems. These procurements will increase steadily over the next five years.
It is only a matter of time before grid connected opportunities become a reality. Cost is not the only factor in middle class and business consumer interest, energy independence, capability to survive power cuts, “green” marketing and a desire to be “modern” all play a role.

Problem or Opportunity

The Problem:Many families are using kerosene and firewood for cooking which is very costly.
My business aim is to introduce the use of solar lamp to be used in rural household instead of using Kerosene lamps for lighting and cooking.l want to supply solar cooking stove and solar lamps in order to minimize the use of kerosene if not to completely eradicate the use of it.
Solar lighting isn’t hype. It’s not a trend. It’s a simple, cost-effective solution for helping the one out of every five people in this world who lack electricity have light to brighten up their lives.

olar lights don’t break, and they don’t explode and start fires at home like kerosene lanterns can.Cost effective. Sunshine is free! And with the money saved from not having to buy kerosene, people can make their money back on a solar light within 1-2 months.
By use of solar we will reduce the carbon emission and have a clean environment

Competitors

Kenya Solar Energy Limited 15%

Go Solar Systems Ltd 23%

M - Kopa Solar 30%

Advantages or differentiators

We are different in our marketing approach in that a client just need to pay a deposit for the solar panel kit then pay the balance in installment.This is a big plus to us and the client since he get to enjoy the benefit of the solar kit as he makes payment.
As compare to our competitor who demand you have full amount of cash to purchase the solar kit.

Finance

The three financial statements are: (1) the Income Statement, (2) the Balance Sheet, and (3) the Cash Flow Statement. These 3 core statements are intricately linked to each other.

Actual sales and sales in our pipeline
Average days collection
Inventory outstanding

Loan terms

60 months

Interest rate, %

3

Business model

Using a unique business model called Pay-As-You-Go (PAYG) which is a micro payment scheme to sell the solar light kit in rural Kenya we aim to eradicate the dangerous and toxic kerosene lamp and improve lives through solar technology.

The solar kit which consists of 4 lamps and a solar panel cost 100 dollars. A client only needs to pay a deposit of just 20 dollars and get the kit. We do all the installation at his home. The remaining 80 dollars is paid in installment of 10 dollars for 8 months and subsequent electricity is free to the new owner.

PAYG customers are finding that instead of paying $2 to $3 a week for kerosene, they pay less than half that for solar energy. The PAYG concept is a familiar one for hundreds of millions of Africans who purchase mobile phone minutes and kerosene fuel incrementally.

As compare to getting connected to the main power grid where it is required that the clients pays the full amount of 350 dollars connection fee and then wait for 6 to 12 month to get power connected to their house. We are the better option by far.

Solution (product or service)

Our Company has A Solar Panel

Bulbs
Rechargeable Battery
grid tie inverters, and mounting hardware

Risks

Solar Energy market is a great venture.
There could be change of solar energy products
Introduction of solar television,radio and mobile phone.

This will improve the uptake of solar household electronics.

Taxation.The Government my introduce taxes on solar panels and its accessories leading to high price of the solar kit.

Incubation/Acceleration programs accomplishment

The Entrepreneurs hub

Hubcubation was a 6-month program designed for entrepreneurs who have been in business for 1-3 and want to take their startup to the next level of professionalism and sustainability.
The program has a 360′ approach build on three pillars: knowledge, network and mentor/coaching.
In ten workshops we were able to go through all elements required to run a business: from strategy to operations, from marketing to management.

Won the competition and other awards

The Most Promising Startup in the Alternative energy solution for Africa

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Competitors
Advantages or differentiators
Finance
Financed earlier, $
Loan terms
Interest rate, %
Type of pledge
Pledge and assets
Business model
Solution (product or service)
Lead creditor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video