MicroEnergy Credits
SUMMARY: MicroEnergy Credits leverages the unprecedented growth of the $120 billion carbon markets as a catalytic source of funding to mobilize the 12,000 microfinance banks now reaching over a billion people, to help their microentrepreneurs affordably switch to healthy and clean energy sources as part of their journey out of poverty.
PROBLEM SPACE: The traditional fuels of the poor, kerosene and biomass, create a vicious cycle of poverty due to expense, health impacts, and illiteracy. Clean alternatives already exist, but are not adopted. A local broker is needed to provide products, financing, education and servicing. We mobilize MFIs to become clean energy brokers.
SOLUTION: MicroEnergy Credits is a start-up social enterprise based in Seattle, WA. Our team of 9 includes technology developers, microfinance client relationship managers, carbon markets analysts, international deal lawyers, and green product specialists. We have benefitted from an amazing group of volunteers, interns and probono professionals.
We have signed carbon purchase agreements with 7 MFIs globally representing over 7.5 Million clients, 30,000 clients are already receiving access to clean energy services. Our team has provided technical assistance to four MFIs to help them rapidly scale their clean energy product lines, receiving stellar accolades from the MFI clients and the donor-funders. Our carbon monitoring database currently has 530 geocoded clean energy systems and our mobile-phone-based monitoring technology has been tested in four countries. We have received requests from over 60 MFIs globally that have requested help starting clean energy product lines or accessing the carbon markets.
MEC currently sells all of its offsets through an advance purchase agreement with carbon trading firm EcoSecurities. In the next month, MEC is planning to launch an on-line peer-to-peer portal where individuals like you and me will be able to mitigate climate change by helping an entrepreneur take a loan for a clean energy system.
CONTACT PERSON: [email protected]