Solar mini – grid operators to trade environmental credits for funds to scale operations

By Clem Ezeolisah 

Good times are coming for solar mini-grid operators in Nigeria to start trading off environmental credits for massive funds to scale up their operations and reduce last - mile customers’ cost for solar energy with the unveiling of the new solar device, ecoWise.

While main FCT, Abuja was bustling with her normal Friday business routines, a great unveiling of the ecoWise solar device that has the potential to change the financing narrative of solar mini -grids was taking place inside the Innov8 Hub centre along the Abuja Airport Road, Abuja.

According to ecoWise Program Director, Rinret Best, ecoWise solar device “is a homegrown innovation that represents not just a product but an opportunity to accelerate solar energy adoption through innovative financing with instruments such as carbon credits and renewable energy certificates”.

In a video address during the unveiling, the co- inventor, Deborah Yetunde Fadeyi, an award winning and seasoned energy and sustainability specialist assured that with the adoption of ecoWise solar device in the country, the energy poverty would be reduced as more funding opportunities for more deployments of solar energy would be unlocked besides bringing down the cost to the customers.

 She commended Ceesolar Energy for the partnering with Vectar Energy for the pilot scheme of ecoWise device which is proof of concept for monitoring, reporting and verification of relevant data and the British Council for funding the program and their support.

 Vectar Energy Chief Technical Officer and co- inventor of the ecoWise solar device, Habeeb Mustapha demonstrated how the device works, stating that solar mini– grid operators were their major target beneficiaries but assured that other beneficiaries would be targeted in due course. He said, “the device tracks kilowatt-hours in real time using GPS and cloud technology. Then an AI and machine learning algorithm verifies that the data is truly from the solar source”.

 Speaking on behalf of the British Council, the Program Director, Chikodi Onyemeala said “the ecoWise Initiative has the potential to address Nigeria’s chronic energy poverty while contributing to global climate action. “This is innovation in translating research and data into real products and services, it is a game changer in reducing the cost of solar energy,” he said.

Ceesolar Energy CEO, Chibueze Ekeh said, “we are happy to partner with Vectar Energy to ensure that ecoWise gets the right data and support to scale”. He described it as homegrown and impactful.

 Providing the history behind the unveiling of the ecoWise innovation, Innov8 Hub Head of Programs, Tolulope Aina said, “We met Vectar at the idea stage. Through our incubation programmes, we’ve provided them with resources, infrastructure, and technical mentorship. Today, they are building a solution that unlocks green financing for Nigeria and Africa”.