Solar’s Power-as-a-Service

Ademola Adesina owns a “Power-as-a-Service” (PaaS) system in Nigeria. “People want power and electricity, not panels and batteries,” explains Ademola. This is not a new business model. Firms invest in assets and sell you service, this is exactly what cable TV companies and mobile phone organizations do.

In fact, this is precisely what your typical utilities in the developed world already do. You purchase for the power they provide you. In return, they sustain their power assets to ensure they keep providing you with power so you will keep buying.

Ademola built a power company that distributes assets across homes and business in exchange for less expensive monthly payments. The service includes installation, maintenance, replacement parts, and a system moving assistance.

Bringing Renewable Energy

Ademola is one of the players that bring renewable power into Nigeria. “We are expecting to be but a cog in what will be a giant industry consisting of multiple players catering to the middle-class and small-businesses; there will be those catering to utility scale solar systems, and those who are catering to kerosene lamp replacements for rural areas.

But we will all have one goal in common: solving Nigeria’s power problem.” Firms in this market have collaborative support within government agencies. “There is an organized and well led effort to incorporate distributed generation more aggressively into Nigeria’s energy mix,” explains Ademola. “Nigeria’s Rural Electrification Agency is one of the more progressive and innovative on the continent.”

Codify Energy

They’re sharing aims to codify energy efficiency requirements in the building code. Ademola knows that renewable energy will improve the enviroment. “We Nigerians are affecting our environment directly. All you have to do is look up to the sky and see the dense smog that hovers over Lagos on most days.

Look to your sides and you see once beautiful buildings blackened by soot. A lot of this is from generator smoke. We have over 60 million generators in Nigeria, 12 million of which are in regular active use, emitting 29 mega-tonnes of CO2 per year, not to mention the carbon monoxides and nitrogen oxides. You can only imagine what this is doing to our climate.”

“While playing the role of business developer isn’t new to me, actually building a business from a zero base, no infrastructure, just two guys and an idea is quite new. I’m proud of the team that has been carefully and thoughtfully brought together to execute on our mission.

I’ve been surprised yet humbled by the willingness of people who I consider exceptionally talented to listen and agree that we’re endeavoring to build is worth spending time on, and I’m optimistic about Nigeria’s future towards the energy transition because better options and economics usually prevail when people are being rational.”

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