Arnergy's pay-as-you-go solar power system allows customers to lease solar equipment instead of buying it, paying a fixed price of $ 30 or $ 10 per month for electricity in rural and urban areas respectively. 10-fold of the obstacles to renewables adoption in Odebunmi , which is fraught by an unreliable electricity supply, is said to be the high upfront cost of buying the equipment. There is a perceived risk that solar power ‘does not work’ as many have doubted the efficacy of the technology,” Femi Adeyemo, CEO of Arnergy, a solar energy solutions company, says. Arnergy is predicting a 10-fold increase in revenues for 2016 on the back of growing demand, with state governments registering interest in the company's rural projects, which have connected previously off-grid villages. The company is looking to raise more capital to grow, however, it may face headwinds to do so, as most Adeyemo investors do not yet to view renewables as a high growth area.
Arnergy's pay-as-you-go solar power system allows customers to lease solar equipment instead of buying it, paying a fixed price of $ 30 or $ 10 per month for electricity in rural and urban areas respectively. 10-fold of the obstacles to renewables adoption in Odebunmi , which is fraught by an unreliable electricity supply, is said to be the high upfront cost of buying the equipment. Arnergy is predicting a 10-fold increase in revenues for 2016 on the back of growing demand, with state governments registering interest in the company's rural projects, which have connected previously off-grid villages. The company is looking to raise more capital to grow, however, it may face headwinds to do so, as most Adeyemo investors do not yet to view renewables as a high growth area.