enPower.life is mentioned in a UN report on the solar market in Uganda as a leading example of solar financing. Since the report was published, we have already financed and successfully commissioned the next enPower.life solar plant. In addition to the solar system for the Aquarius Kigo Resort, the solar system for Yujo Izakaya now also saves CO2 emissions.
The report provides further interesting insights into the solar market in Uganda: The solar market in Uganda is still clear. According to the report, between 2013 and 2021, only about 89 solar systems were installed and commissioned in Uganda. Businesses are increasingly turning to solar energy to escape the unreliable power supply, high electricity costs and expensive diesel generators. In Uganda, electricity from solar systems is about 20-30% cheaper than electricity from the grid. It is also important for environmentally and climate-conscious companies to reduce their CO2 footprint.
The majority of the solar systems were financed by crowd investing and impact investors – just like we did with our enPower.life solar systems. Although financial institutions in Uganda are interested in investing in the solar market in Uganda, unclear legislation and strategy for the solar market make this financing option difficult. In addition, there are non-uniform tax benefits for solar energy projects and only limited know-how in Uganda.
Nevertheless, interest in solar energy solutions is increasing and the solar market in Uganda is growing steadily. Improved power reliability, lower electricity bills and reduced carbon emissions make solar energy an increasingly popular solution for businesses in Uganda.
You can access the full report from the UNEP Copenhagen Climate Center here. UNEP stands for United Nations Environment Programme and is the leading environmet authority within the UN system.
November 17, 2022