I came across this interesting piece of information which I would like to share with you all – one in three person across the world don't have access to any sort of modern power supply and are dependent on sporadic electricity or have to seek solace in expensive fossil fuel.
One streak of light is in the form of solar power which is cheap but poor people cannot afford the expensive solar panels. Here comes Energy In Common which seeks to address energy poverty through its new micro financing service which offers loan to people in developing countries seeking to buy solar panels and related solar power equipment. This concept was popularized by Kiva.
On the Energy In Common website, lenders can review their requests and loan as minimum as $25 to a solar entrepreneur. Once the venture gets funded by EIC community, the money is dispersed for the work. In this case the loan gets repaid in small installments over a period of few months to couple of years and the lender can either withdraw or loan it for another project. This type of funding has made life easier and productive and reduced dependency on polluting fuels, preventing deforestation and reducing greenhouse gas emissions.
people need to pay more attention to such things.