Small-scale financing for off-grid solar energy storage cabinets in Somalia

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4 FAQs about Small-scale financing for off-grid solar energy storage cabinets in Somalia

What is off-grid solar?

Off-grid solar (OGS) energy provides an opportunity to increase energy access. Technology costs have fallen dramatically, and new business models, such as pay-as-you-go (PAYG), are addressing longstanding issues of affordability.

Can you finance an off-grid solar project?

While upfront costs can be steep, there are various incentives and financial models available that can help make your dream of sustainable energy a reality. We will explore the different options for financing an off-grid solar project, including payback periods, return on investment (ROI), and potential tax credits or grants.

What is an example of a solar farm in Mogadishu?

For example, Benadir Energy Company (BECO)—Somalia’s largest electric utility and the only provider in Mogadishu—developed a 10MW solar farm outside Mogadishu and connected to its power generation and transmission.

Are solar leases a good option for off-grid solar projects?

Solar leases are another option for off-grid solar projects. With a solar lease, you pay a monthly amount to use the solar system, rather than purchasing it outright.