From Crisis to Solution – Microfinance Saves the Day
Global power shortages, the deepening energy crisis and the environmental impact on the planet have led researchers in India to look to alternative solutions to a problem that grows more serious every year. Providing microloans for individuals and households to enable them to set up solar energy systems may be the answer that will both benefit the planet and help alleviate poverty.
Energy Consumption and Natural Resource Degradation
In many rural areas in India, households are run using firewood for cooking, kerosene for light and cow dung patties for warmth. The reliance on kerosene is a rising cost and many people have to travel great distances to purchase it. The depletion of natural forests for firewood is a serious problem around the world and pollution and health risks are on the rise.
Solar energy has been regarded as a good solution for many years, but at the same time it has also been out of reach for low-income families, especially those based in rural areas. While it should be a cost efficient green energy alternative for all, it is the poor who end up paying the most for basic energy requirements.
Tailored Loans to Help Finance Solar Energy
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