Solarhome to Enter Cambodia by the End of 2018

• 9 June 2018
• Local News
• 1094 Views

Solar energy system is increasingly popular in Cambodia

A Singapore-based solar energy company SolarHome plans to establish a presence in Cambodia by the end of this year, entering the market to introduce the Pay-As-You-Go (PAYG) model for off-grid households in the Kingdom.

The renewable energy firm also announced plans to enter markets in Indonesia and the Philippines, while Mynamar has been experiencing the cheap solar energy home system with the milestone of 6,000 systems installed in rural areas of Ayeyarwaddy and Dry Zone.

“To meet our addressable market of 27 million households across Southeast Asia,” subsidiaries in Cambodia, Indonesia and the Philippines are our visions, possibly by the end of this year, said Ted Martynov, chief executive officer and co-founder of SolarHome in a press release.

SolarHome offers a solar lighting system based on a subscription plan. Customers make an initial USD10 down payment, which is followed by daily, weekly, or monthly repayments through scratch cards or mobile money.

After completing the payment plan, the system is “unlocked’ and transferred to the customer. According to a company press release, this “rent-to-own” model enhances customers’ access to financing and increases the affordability of their solar energy solutions.

“Technology built into the system ensures that it won’t function if a payment is not made, giving lenders the confidence that they will be able to recover their investment,” the company said.