10Power provides third party finance for renewable energy projects in emerging economies and empowers communities to promote clean water, gender equality, and ecosystem restoration.
Energy is the backbone that supports advancement in quality of life, yet close to one-fifth of humans on the planet, 1.3 billion people, lack access to electricity. Without consistent power, it is impossible to provide running water, refrigeration of food or vaccines, or access to information technology and global markets. Growth in developing economies will cause the entire world’s energy usage to increase by 150% over the next 15 years. We are at the most crucial crossroad in human history. One direction carries us further down the road that degrades well-being, burns fossil fuels and emits carbon dioxide. The other path is up to us to define. Working with local partners, 10Power finances solar projects to create regenerative growth that reduces global carbon emissions, and economically empowers stakeholders.
Imagine a woman named Angelique living in one of the worst slums in Haiti, Cité Soleil. She lives in a house with no electricity, no running water or toilet, no trash pickup. She works grueling hours in a factory, but barely makes enough money to cover her commute and a little bit of food for her and her child. She is one of the few people in her community with a job, but is she truly fortunate?
10Power’s business model disrupts the hand-to-mouth poverty cycle. The team identifies site-specific appropriate renewable technology, works with local suppliers to install storage, smart meters and inverters, enables customers to pay month by month for their equipment using mobile pre-pay systems, and in the commercial and industrial segment, is working with local entrepreneurs to take renewable energy to their communities.