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There’s no doubt the renewable resources, such as solar energy, are the future of our planet. With the impending depletion of more harmful energy sources, it only seems logical that we’d all want to work toward finding cleaner, more economically friendly ways to power all of the things that matter most to us, both on a residential and larger scale, commercial level. Solar energy is especially interesting, because it presents the idea of energy independence, allowing households to produce what they need, without relying on the grid. Unfortunately, it’s quite expensive to get your foot in the door, so to speak. This past week though, one start-up got the seed money necessary to help eliminate the cost barrier to photovoltaic energy production.
“The goal is for any installer in any country to offer a high quality rooftop solar installation at no upfront cost, and do so over and over, millions and eventually billions of times.”
— Jonah Greenberger, Bright
Bright, a Mexican-based company, raised $4 Million to further its companies plans to make solar more feasible for all households in Mexico. How does it plan to achieve this? Essentially, they work closely with private investors, who will cover the cost of installation. This is paid back to them slowly over time. Bright will also use a large pool of Mexican contractors to install ready-made panels, which helps to eliminate the costs associated with building them in-house, while providing jobs. Over time, it plans to take this same model to other countries.
It’s no secret that Canada has a ways to go in terms of its solar energy generation – in fact, we make up close to 1% of the world’s total solar PV capacity. That’s less than impressive. Maybe adopting a mentality inline with Bright’s would make it more plausible for lower income households, who could benefit from the long-term, savings solar can provide. Although subsidies do exist, covering all the upfront costs would dramatically increase adoption. What do you think? Tweet me and let me know.