SOLshare has created a revolutionary new approach to bring affordable solar electricity to everyone in Bangladesh and beyond. We believe that our smart peer to peer grids can be the future for energy utilities globally.
WHAT WE DO
At SOLshare we came up with a way for people to turn their excess solar electricity into money with zero hassle. It also enables them to purchase more power on the go whenever they want as well as they get to invest in more power generation and trade it off for a handsome return with minimal risk. This led us to install the world’s first cyber-physical peer-to-peer (P2P) solar sharing grids, and this of all places in remote areas of Bangladesh.
WHAT MAKES OUR WORK DIFFERENT
We connect solar home systems, monetizing excess solar energy in real time with mobile money and empowering rural communities to earn a direct income from the sun.
SOLshare has developed the peer-to-peer microgrids, an IoT-driven trading platform that enables people to trade the excess solar energy generated by solar home systems. Here, SHS-users (Solar Home System users) come to sell their excess energy to non-SHS-users, or people who can’t, unfortunately, afford a SHS for that matter. One party earns money, the other party finally gets access to affordable electricity. The energy sellers can also choose to keep the excess energy to themselves and rather utilize it to run extra appliances like a TV, fridge, or computer.
Our peer-to-peer microgrids consist of: the SOLbox, the SOLapp, and the SOLweb. SOLbox is a bi-directional DC electricity meter that enables peer-to-peer electricity trading, smart grid management, remote monitoring, mobile money payment, and data analytics. The SOLbox enables the creation of a DC smart grid, integrating with existing hardware, such as a solar home system or battery, and connecting this through the SOLbox with other SOLboxes in nearby homes or businesses.
The SOLapp manages customer portfolios taking user information and payment details into account. It updates accordingly with user activities and energy consumption. The information from these two pillars is then passed onto the third pillar, the SOLweb, where all the information is gathered and analyzed to understand system paradigms and irregularities.
The SOLbox, SOLapp, and SOLweb together enable one house to smoothly connect to another, eventually connecting to ten houses which then connect to hundreds of households- all possible due to the sharing nature of our trading platform. As the SOLshare network grows, it can connect with the national grid, operating in island mode when the grid is unavailable, and drawing power from the grid when it is available. This makes us ponder that the biggest taxi company in the world has no taxis, the biggest hotel company in the world has no beds, what will the energy utility of the future look like? You bet we know the answer.
In order to increase the profits of electric three-wheeler drivers, SOLshare has introduced new battery technology and improved battery financing into the market.
The heart of Bangladesh, Dhaka city is also known across the world as the Rickshaw capital of the world. The city consists of more than 1.5 million electric three-wheelers, making it an affordable, accessible, and fast choice of transport, serving a market consisting of no less than 20 million users.
The challenges arise with the charging infrastructure, which is hazardous, informal, and uncoordinated, while 97% of it is being powered by fossil fuels. Currently, the market is flooded with cheap lead-acid batteries, which are overcharged, leading to small battery lives. All of these result in problems for drivers who face hurdles such as high-interest rates, range anxiety, debt and financing issues, and registration problems, making the entire system slow and inefficient.
Our solution- Fair leasing of better battery technology.
Our platform provides battery financing, remote battery monitoring, and leasing with PAYG (Pay As you Go) technology. This allows electric three-wheeler drivers to enjoy extended battery lives, increased cost savings, and higher mileage, while garage owners can enjoy remote monitoring, transaction tracking, and shorter charging cycles. These, in turn, increase the income of both the electric three-wheeler drivers and garage owners.