Stage of Innovation: MVP (You have a product ready to go to the market)

Problem: Extreme poverty has been a pertinent issue in Nigeria since her inception. In 2022, it was estimated that 88.4 million people lived in extreme poverty, living on less than $2 a day. Nearly 75 million of these people live in rural areas and one major issue limiting their earning potential is lack of access to affordable and reliable electricity. Studies show that 65 million people in rural areas in Nigeria currently lack access to grid electricity and have to depend entirely on unreliable, expensive and polluting diesel/petrol generators for their electricity. The current economic situation and fuel scarcity has made it impossible for rural households, who are mostly farmers, to make the most of their businesses as they can neither process nor preserve their products. Some businesses have been forced to close down entirely as they cannot operate due to exorbitant fuel costs. Providing these people with access to clean, reliable and affordable electricity will be critical to bringing them out of poverty.

Unique Selling Point: People in rural areas without access to electricity usually use diesel/petrol generators as alternatives for generating electricity. These generators are unreliable, and require a lot of maintenance. Coupled with this, is the inconsistent supply and pricing of petroleum products which makes diesel/petrol generators very expensive to operate. Additionally, petrol/diesel generators generate a lot of greenhouse gases, leading to environmental pollution every time they are used, and impacting human health negatively. At Entric Power Systems, we are using solar home systems and solar mini-grids to provide clean, reliable, and cost-effective electricity to people in rural areas. With our solutions customers no longer require diesel/petrol for electricity generation, and save a lot on maintenance costs. We operate our solution on an Energy-As-A-Service model, which means that customers only pay for the electricity they consume. Our solutions are also community based, making it possible to take advantage of economies of scale to charge lower tariffs. Our solutions make it possible for customers to access electricity at a price that diesel/petrol generators cannot simply match. Our solar home systems and solar mini-grids utilise solar technology and battery technology sized to meet the energy needs of various customer categories. By using using battery technologies like lithium ion batteries, we ensure that customers have continuous access to electricity and implement reliable energy solutions. Also, our solar and battery technology help customers avoid the emission of greenhouse gases that a generator set would otherwise have produced. Our energy solutions are clean, reliable, and affordable, making it possible for customers to power their homes ang businesses easily.