Paygo solar home system Israel

Who owns PAYGO solar in Nigeria?

In the fourth quarter of 2016, private equity firms invested over USD 60 million in Nigerian mobile PAYGO solar provider Mobisol and Lumos Global, which is selling emissions-free electricity services from solar-storage micro-grids. Both companies sell larger systems than the original PAYGO pioneers.

What are the features of the PAYGO Solar System?

Each system comes with 80Wh or 160Wh battery capacity which allows to run various household devices. Two solar panels of 50W each provide clean solar power. Whenever more power or battery capacity is needed additional systems can be stacked on top. PayGo integration allows flexible payment in installments.

How does a Pay-as-you-go (PAYGO) approach work?

For Pay-as-you-go (PAYGO), customers usually pay 10-20% as an upfront cost and the rest as a loan over a period of 1-2 years. It may take more than 3 years for PAYGO customers to convert product inventory into cash flow. This article explains briefly how PAYGO works for customers paying for electric services from off-grid solar systems as well as for the companies offering this service.

What is PAYGO integration?

PayGo integration allows flexible payment in installments. Two different modules of 80Wh and 160Wh can be stacked on top of each other to increase the battery capacity and the maximum power output. Each system includes an MPPT and accommodates up to two 50W solar panels. A battery expansion pack with another 160Wh is also available.

Should you buy a solar lamp from PAYGO?

PAYGO makes solar products affordable for some customer groups, while two thirds of the would prefer lower instalments and report to still have challenges to pay over USD 4. People using PAYGO tend to spend more for their lighting services than people without a solar lamp.

Why should you buy a solar product via PAYGO?

PAYGO offer the possibility to establish a track record of payed back credit. After the purchase via PAYGO of a solar product, the household not only has a good rating with financing institutions, but also a collateral to continue with the same (or similar) amount of instalments to buy other products.