Person-to-person microloaning is certainly not a new innovation in the field of international development, but what sets Energy in Common (EIC) apart is its comprehensive outlook on fighting poverty, climate change and the energy gap.
Energy in Common's loans go to anyone in a developing country needing a source of clean energy for their business -- think street vendors or restaurant owners. However, EIC's microlending can also go to those who need more reliable power for their homes, making the model quite far-reaching and brimming with possibilities.
Green Power Microlending
Energy in Common's Person-to-Person Loans Fight Climate Change
Trend Themes
1. Person-to-person Microlending - Microloaning platforms with a focus on clean energy offer disruptive innovation opportunities for fighting poverty and climate change in developing countries.
2. Comprehensive Outlook on Poverty, Climate Change, and Energy Gap - Organizations that take a holistic approach to addressing poverty, climate change, and energy access can create disruptive innovation opportunities with microlending programs.
3. Far-reaching Microlending Model - Microlending platforms that provide clean energy loans for both business owners and individuals seeking reliable power at home have the potential to create significant impact in developing countries.
Industry Implications
1. International Development - The international development industry can benefit from supporting microlending platforms that offer clean energy loans to fight poverty, climate change, and the energy gap.
2. Renewable Energy - The renewable energy industry has the opportunity to collaborate with microlending platforms to expand clean energy access in developing countries and drive sustainable development.
3. Finance - The finance industry can explore partnerships with microlending platforms that focus on person-to-person loans for clean energy, tapping into a market that combines social impact with financial viability.