Explain your idea in details:
Purpose of my idea is to incentivize the use of solar energy systems for residential, commercial and industrial use, through selling, leasing, installing, maintaining and financing of solar energy systems. Target market are middle/upper class earners as they are more likely to purchase solar energy systems/appliances, commercial & industrial customers.
Expected impact of your idea on sustainable development
Benefits include saving up to 15 -30 % on households electricity bill this will allow households to have more money to save, reduction in demand of peak hours electricity can lead to electricity security in a country like Namibia that imports 60% of it's electricity needs at a cost of approx. U$ 200m p/a, most importantly reduced carbon emissions and jobs will be created, with preference for youth and women, thus addressing the significant high unemployment, inequality & poverty rates. Some of the proceeds will fund a social corporate responsibility initiative to install solar panels in rural areas to help curb fossil fuels based cooking and heating methods. Success will be measured by the effectiveness of the company's social corporate responsibility intiatives. Through this programmes I want to address socio-economic and climatic challenges amongst others, rural areas electricification and reducing carbon emmisions respectively.
Plans for implementation and sustainability
Electricity will be generated from a proposed method of renting rooftop spaces to setup a 5MW solar power plant across the city of Windhoek, Namibia. Rooftop space renting is an alternative to the purchase of expensive land thus cutting on capital costs. Electricity will be sold to the energy state utility Nampower,a single buyer under the government's renewable energy feed-in-tariff (REFIT) programme, thus it is a secure source of income.Finance options will be tailor made financing to cater for those on low incomes. It's an innovative way of easing the financial burden of solar energy systems that restricts and deters the use of solar energy systems,thus expanding my target market. Amongst other financing options customers will be able to payoff solar energy systems installations or purchase of appliances in monthly instalments and guaranteed maintenance on all installations will be provided over a certain predetermined period of time. The diversification of my idea, within the renewable energy market by offering services, financing & electricity generation sets the idea apart from others & makes it sustainable.
I am a 23 year old Namibian student at Monash University S.A pursuing a bachelor degree in economics and international relations. I am the sole contributor to my idea. I came with the idea after the introduction of independent power producers in the country which excited me.I knew land is expensive to purchase thus I started looking for ways to setup a cheap power plant. I then did a thorough research and came to a conclusion with the rooftop space renting. I than also discovered that the is a lack of funding assistance for renewable energy systems in the market thus decided to address this issue as well. Should I win the competition I am more than confident that I will be surrounded by a team that will offer me guidance and mentoring to help me succeed.