For some solar startups, instead of increasing prices, they have had to absorb the extra charges from the Nigerian customs.
It is not as expensive as it used to be and customers can take advantage of the flexible payment options or acquire one.
Oolu Solar has entered into Nigeria to connect the 20 million households in Nigeria without power with access to basic electricity.
Innovative financing approaches like securitization allow off-grid energy startups to use their future cash flows to quickly reach more Africans with solar home systems.
Nigerian businesses including hospitals critically need power to survive and for some, to save lives. Renewable energy (especially off-grid) presents a strong proposition to address the power challenges.
Africa has a potential to have installed energy capacity of about 350,000 MW (350 GW) from hydropower alone but only about 10 – 20% has been installed.