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Friday, May 25, 2012
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Shea Gunther

Green microcredit in action: Edna's solar panels

A Tanzanian restaurateur will get her solar panels after investors pooled together money through the newly launched Energy In Common.

Wed, May 26 2010 at 3:20 PM EST

Photo: Energy in Common
Edna Mganga is getting her solar panels!
 
Last month I wrote about Energy In Common, a new website that mashes up renewable energy with developing world micro credit — think greener-focused Kiva. I chose to invest $25 in Edna Mganga, a restaurateur in Tanzania who needs $1,085 to buy solar panels for her restaurant. At the time Edna was about two-thirds of the way to raising her total; today I received a message from Energy in Common that she reached 100 percent of her goal and that the funds will soon be disbursed.
 
Edna's restaurant could be rocking solar panels within the week, and if all goes to plan, my $25 will be paid back to my account within the next year.
 
It's a win on so many levels. I get to ease some of my First-World guilt, Edna Mganga gets a reliable source of power that will cut her electric bill, and the planet will benefit from the small fraction of CO2 not produced from the otherwise dirty energy Edna would be drawing from. It's brilliant.
 
Kudos to Energy In Common. The world needs more things like this.
 
 
Are you on Twitter? Follow me (@sheagunther) there, I give good tweets.
 
And if you really like my writing, you can join my Facebook page.
 
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Related Topics: Green Business, Green Finance, Solar, Solar Panels

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