Bangladesh-based SOLshare has closed a $1.1 million financing round and the off-grid solar energy marketplace firm will use the fund to bring smart solar micro-grids to off-grid, underserved communities in the country.
OLshare, a renewable energy-based peer-to-peer trading platform in Bangladesh, has won Ashden Awards for creating a new approach to bring affordable solar electricity to everyone.
Ashden announced a total of 11 winners from the UK and developing countries in a video celebration featuring films of the organisations on Thursday.
DHAKA (Thomson Reuters Foundation) – A start-up that helps rural Bangladeshi owners of home solar power systems trade their surplus electricity with their neighbours won an international award for climate change innovation Thursday.
SOLshare, set up in 2014, aims to stem the waste of more than a billion dollars in energy each year when home battery storage systems connected to solar panels reach capacity and excess solar power generated goes unused, its officials said.
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There are nearly 6 million solar home systems in Bangladesh, but up to a third of the electricity they generate, worth $1 billion, goes to waste as people’s usage patterns vary day to day and season to season.