
Project loan 100% repaid in one yearAs of November 1st, SunFunder’s first loan for a SunnyMoney solar project in Zambia is fully repaid.The $10,000 loan was used to purchase and sell approximately 780 solar powered lights to families in the Chadiza district of Eastern Zambia which would improve the lives of almost 4,000 people. 86 SunFunders invested in this project and received their money back in one year.You can learn more about the project details on our website.This is the first of 4 SunnyMoney projects to be 100% repaid–a significant development in our 1 year partnership to date with SunnyMoney. It is evidence that the off-grid solar sector is bankable, contrary to the popular perception by the private sector. We’ve written up a short blog post about the implication of this milestone.While this is the first time a SunnyMoney project is fully repaid, this is the second project loan to reach 100% repayment for SunFunder; the first project was in the Philippines with a different solar partner, Hybrid Social Solutions.
This first 100% repayment by SunnyMoney is a positive sign for the other three projects still undergoing repayment process. It also further validates the viability of solar energy in off-grid communities, where solar is actually cheaper than the alternative (kerosene wick lamp for light and walking to a central village charging station for phone charging) when financed. And because of factors like declining solar system costs, increasing kerosene costs, and advances in solar business models, a villager in Tanzania can switch to solar and pay the system off in one to three years, while a homeowner in the Northeast U.S. could require a 15 to 20 year payback.
General progress to dateSunFunder has had a busy and productive summer and the fall season is faring no different. Here’s our latest update, 15 months after launching:
- 10 projects fully funded
- $150,000 raised on sunfunder.com
- 1,200 total project investments made on our platform
- 590+ individuals from 37 countries
- 100% repayment rate
- Over 50,000 people impacted!
Hiermee heeft Sunfunder een mooi resultaat geboekt in de eerste 15 maanden sinds haar lancering. Waarvan ik hoop dat ze dat in de toekomst voortzetten en uitbouwen. Wat mooier dan de dubbele klapper van gezondheidswinst en duurzame energie? En met een terugverdientijd waar we in Nederland voorlopig alleen maar van kunnen dromen voor zonne-energie…
Eigen ervaringen
Zelf heb ik nu 5 investeringen gedaan via Sunfunder. Vier van deze investeringen zijn actief en 1 is nog niet volledig gefinancierd. Bij 2 van de 4 actieve investeringen heb ik inmiddels ook al afbetalingen ontvangen. Ik hoop natuurlijk op 100% terugbetaling, maar weet uit mijn ervaring met MyC4 dat dat niet altijd reëel is. Maar vooralsnog gaat het goed en heb ik ook al de eerste herinvestering gedaan met behulp van de ontvangen afbetalingen. Nu nog voldoende mede-investeerders om het Rent-to-Own a Solar Light project actief te krijgen. Voor wie z’n verlanglijstje voor Sinterklaas of de Kerstman nog niet af heeft: hou heb weblog van Sunfunder in de gaten, want er schijnt wat in aantocht te zijn.
Project | Status | % repaid | # of people with solar | Energy cost savings | CO2 avoided (kg) |
1200 more solar lights in Copperbelt | Active | 49.4% | 6,776 | $86,959 | 0 |
Propel Zamsolar Solar Scouts | Active | 24.5% | 2,02 | $20 | 0 |
ReadySet, Charge! | Active | 0.0% | 375 | $6,000 | 2,05 |
Solar for 4,500 students | Active | 0.0% | 22,5 | $58,500 | 153 |
Rent-to-Own a Solar Light | Pending | 0.0% | 5,4 | $0 | 0 |
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