Micro Loans Provide Light In Remote Parts Of The World

      When night falls in remote parts of Africa and the India, millions of people are without access to electricity and must rely candles or flammable and polluting kerosene lamps for light. 

     Slowly through small loans for solar powered devices, microfinance is bringing light to these rural regions where a lack of electricity has stymied economic development, literacy rates and health.  These solar powered devices have allowed people to increase their productivity, improve their health, socio-economic status and in general the way they look at their future.

     A vegetable seller in northern India took out a loan to buy a solar lantern that she uses to light up her stall at night. The lantern costs about $75 USD or about her weekly income.  The vegetables look better with light, it’s cheaper than kerosene and it doesn’t smell.  The investment in the lantern allows this woman to increase her income by 300 rupees ($6) more each evening.

     In India, solar power projects funded by micro loans are helping to reduce carbon emissions and achieve the goal to double the contribution of renewable energy to 6%, or 25,000 megawatts, within the next four years.

Off-grid applications such as solar cookers and lanterns provide several hours of light at night after being charged by the sun during the day.  They help cut dependence on fossil fuels and reduce the world’s fourth biggest emitter of the carbon footprint.  In addition, these projects significantly improve the quality of life and reduce the carbon footprint.”

     In Africa too, micro-loans are bringing solar systems to homes, schools and cottage industry businesses in remote regions that are off the grid.

Poor people use money they would have spent on kerosene to pay back their loans for the solar devices.