Pay-As-You-Go Solar Products

Pay-As-You-Go Solar Products

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Pay-As-You-Go Solar Products
Pay-As-You-Go Solar Products
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SectorMost major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Renewable Resources and Alternative Energy
Alternative Energy
Business Model Description

Invest in Pay-As-You-Go (PAYGO) companies that sell or rent solar-enabled products to individual customers and/or businesses on a "pay-as-you-go" basis, which means that customers make regular payments through mobile payments or cash. In cases of non-payment, the service provider can remotely disconnect the service. PAYGO companies' products range from solar home systems to small industrial solutions. PAYGO customers are individuals and SMEs that do not have access to grid connection and also do not have access to credit. Investors in PAYGO companies typically provide either debt or equity funding for PAYGO businesses to scale by providing growth capital to expand to new areas or countries or provide working capital funding.

Expected Impact

Tackle energy poverty among those who do not have access to traditional forms of credit, and contribute to reduction of CO2 by replacing unsustainable sources of energy.

How is this information gathered?
Updated: 28 Nov, 2023
Sierra Leone
Indicative ReturnDescribes the rate of growth an investment is expected to generate within the IOA. The indicative return is identified for the IOA by establishing its Internal Rate of Return (IRR), Return of Investment (ROI) or Gross Profit Margin (GPM).
15% - 20% (in IRR)
Investment TimeframeDescribes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.
Medium Term (5–10 years)
Market SizeDescribes the value of potential addressable market of the IOA. The market size is identified for the IOA by establishing the value in USD, identifying the Compound Annual Growth Rate (CAGR) or providing a numeric unit critical to the IOA.
< USD 50 million
Average Ticket Size (USD)Describes the USD amount for a typical investment required in the IOA.
USD 1 million - USD 10 million
Direct ImpactDescribes the primary SDG(s) the IOA addresses.
Affordable and Clean Energy (SDG 7) Reduced Inequalities (SDG 10) No Poverty (SDG 1)
Indirect ImpactDescribes the secondary SDG(s) the IOA addresses.
Decent Work and Economic Growth (SDG 8) Sustainable Cities and Communities (SDG 11) Climate Action (SDG 13)

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Sector Sources
  • 1) Sustainable Development Report. SDG Index. 2022. https://dashboards.sdgindex.org/profiles/sierra-leone 2) University of Notre Dame. ND-GAIN Index. Accessed from: https://gain.nd.edu/our-work/country-index/rankings/ 3) GoSL. 2021. Updated Nationally Determined Contribution (NDC). Accessed from: https://unfccc.int/sites/default/files/NDC/2022-06/210804%202125%20SL%20NDC%20%281%29.pdf 4) GoSL. 2019. Sierra Leone’s Medium-Term National Development Plan 2019 - 2023. https://www.slurc.org/uploads/1/0/9/7/109761391/sierra_leone_national_development_plan.pdf 5) European Commission. Gender Action Plan III - 2021-2025. Country Level Implementation Plan - CLIP Sierra Leone. https://europa.eu/capacity4dev/file/126307/download?token=CmrdU3W8 6) GoSl. 2016. Renewable Energy Policy of Sierra Leone. 7) GOGLA. Sierra Leone Country Brief. 2022. https://www.gogla.org/sites/default/files/resource_docs/sierra_leone_country_brief.pdf
IOA Sources
  • 8) EasySolar company website. https://www.easysolar.org/ 9) M-KOPA website. https://m-kopa.com/ 10) IRENA, Pay-as-you-go Models, 2020. https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2020/Jul/IRENA_Pay-as-you-go_models_2020.pdf 11) GOGLA. Off-Grid Solar Market Trends Report 2022: State of the Sector. October 2022. https://documents1.worldbank.org/curated/en/099235110062231022/pdf/P175150063801e0860928f00e7131b132de.pdf 12) Persistent. Is It Time for A Solar Receivables Finco? April 2023. https://persistent.energy/wp-content/uploads/2023/04/Persistent_April-2023_Is-it-Time-for-a-Solar-Receivables-Finco-1.pdf 13) UNDP Stakeholder Consultations, 27 April, 2023 and 2 May 2023 14) UNDP Stakeholder Consultations, 2 May 2023 15) UNDP Stakeholder Consultations, 26 April 2023 16) Lighting Global/ESMAP, GOGLA, Efficiency For Access, Open Capital Advisors (2022). Off-Grid Solar Market Trends Report 2022: Outlook. https://documents1.worldbank.org/curated/en/099355110142233755/pdf/P17515005a7f550f1090130cf1b9f2b671e.pdf 17) Dalberg, GOGLA and the World Bank Group. 2018 Global Off-Grid Solar Market Trends Report. January 2018. https://www.lightingglobal.org/2018-global-off-grid-solar-market-trends-report/ 18) GOGLA. Powering Opportunity in West Africa. 2020. https://www.gogla.org/sites/default/files/resource_docs/powering_opportunity_west_africa_eng_0.pdf 19) IRENA Off-grid renewable energy statistics 2022, 2022. https://mc-cd8320d4-36a1-40ac-83cc-3389-cdn-endpoint.azureedge.net/-/media/Files/IRENA/Agency/Publication/2022/Dec/IRENA_Off-grid_Renewable_Energy_Statistics_2022.pdf?rev=f5e766b46ab742f2b6f34312e3036382 "20) GoSL. National Renewable Energy Policy of Sierra Leone. 2016. http://www.energy.gov.sl/PR_Renewable%20Energy%20policy%20of%20SL_FINAL%20for%20Print.pdf " 21) ECREEE. SE4ALL Investment Prospectus for Sierra Leone. May 2017. https://www.se4all-africa.org/fileadmin/uploads/se4all/Documents/Country_IPs/Sierra_Leone_Investment_Prospectus.pdf 22) African Power Platform. Renewable Energy Policy of Sierra Leone. https://www.africanpowerplatform.org/resources/reports/west-africa/sierra-leone/331-renewable-energy-policy-of-sierra-leone.html 23) GoSL. National Energy Policy. 2009. http://www.energy.gov.sl/NATIONAL%20ENERGY%20POLICY.pdf 24) Government of Sierra Leone. National Energy Strategic Plan (2009) http://www.ecowrex.org/system/files/repository/2009_energy_strategic_plan_-_min_ener.pdf 25) Government of Sierra Leone. Energy Efficiency Policy (2016) http://www.energy.gov.sl/wp-content/uploads/2018/01/Energy-Efficiency-Policy-2nd-signed.pdf 26) GOGLA. Sierra Leone Country Brief. 2022. https://www.gogla.org/sites/default/files/resource_docs/sierra_leone_country_brief.pdf 27) Sustainable Energy for All. Increasing Energy Access in Sierra Leone. March 2021. https://www.seforall.org/publications/increasing-energy-access-in-sierra-leone 28) ENS. Africa Tax in Brief. https://www.ensafrica.com/news/detail/5283/africa-tax-in-brief- 29) World Bank. Data. Access to electricity, rural (% of rural population) - Sierra Leone. https://data.worldbank.org/indicator/EG.ELC.ACCS.RU.ZS?locations=SL 30) James Ryan Hogarth & Ilmi Granoff. ODI. Power generation alone won’t deliver energy to Africa’s poor. https://odi.org/en/insights/power-generation-alone-wont-deliver-energy-to-africas-poor/ 31) Bbboxx. https://bboxx.sl/ 32) African Development Bank (AfDB) and Sustainable Energy Fund for Africa (SEFA) November 2019. Mini-Grid Market Opportunity Assessment: Sierra Leone.https://greenminigrid.afdb.org/sites/default/files/sierra_leone_gmg_final_report.pdf 33) Africa Clean Energy & Tetra Tech International Development. February 2021. Stand Alone Solar (SAS) Market Update Sierra Leone. https://www.ace-taf.org/wp-content/uploads/2021/03/Stand-Alone-Solar-SAS-Market-Update-Sierra-Leone.pdf 34) GOGLA. 2019-2022. Global Off-Grid Solar Market Reports. https://www.gogla.org/global-off-grid-solar-market-report 35) Government of Sierra Leone. 2015. National Energy Efficiency Action Plan of the Republic of Sierra Leone. http://www.se4all.ecreee.org/sites/default/files/ll.sierra_leone.neeap.05.2016.pdf 36) Government of Sierra Leone. 2015. National Renewable Energy Action Plan Republic of Sierra Leone. https://www.se4all-africa.org/fileadmin/uploads/se4all/Documents/Country_PANER/Sierra_Leone_National_Renewable_Energy_Action_Plans.pdf 37) Government of Sierra Leone. 2014. The Borrowers and Lenders Act. http://www.sierra-leone.org/Laws/2014-13.pdf 38) AfDB. Sustainable Energy Fund for Africa. https://www.afdb.org/en/topics-and-sectors/initiatives-partnerships/sustainable-energy-fund-for-africa 39) EEP Africa, https://eepafrica.org/ 40) World Bank. Data. Survey mean consumption or income per capital, total population (2017 PPP $ per day) - Sierra Leone. https://data.worldbank.org/indicator/SE.PRM.TCAQ.MA.ZS?locations=SL 41) SLIEPA. Available incentives in Sierra Leone. https://www.sliepa.gov.sl/invest-in-sierra-leone/all-incentives