May 28, 2009

Solar Facts contd..

Every day the energy obtained through solar energy, recieved by earth, is equivalent to 30 years of fossil fuel usage....

And now some facts around the India's poor : India is home to one-third of the world’s poor, who make up 42 percent of the more than 1.1 billion Indian people. Out of India's population, 76 percent — 800 million people — live below the poverty line of $2.50 a day. About 87 percent of poor rural farmers still do not have access to formal credit. Although Indian MFIs reach an impressive 15 million borrowers, total demand estimates are more than 90 million poor. It would be great, if we can find an overlap across the people who need micro-finance and qualify for it, and providing solar power to them. We may be able to find enough micro-finance players, who can play a critical role here. These can be mapped into areas that one operates in, and then use the branches to help provide micro-finance to them.

Part of the issue is to provide enough awareness and training to the MFI players and officers employed by them as well. Most MFIs argue that the solar powered devices are not income generating and hence it is difficult for them to extend credit. What needs to pointed out to this set of folks is : solar powered devices help save money for the household - reduced expenses are like generated income - penny saved is penny earned and hence any asset that helps save money for the poor, QUALIFIES for microfinancing.

1 comment:

Manuj said...

That's a nice bit of info. Though, alas, mankind is not able to cash even 1% of it.

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