Using an innovative business model designed specifically for the Nigerian market, Rensource intends to provide Nigerians with a cleaner, less expensive solution to meet their power needs
In the last year, Africa has been on a steady startup rise. As the world starts to turn its eye to the innovation and the tech of the continent, it is more apparent than ever that Africa’s potential is insurmountable. However, there is sometimes criticism that people look at Africa as a dichotomy, meaning that while Africa is growing and thriving, it is, in fact, thanks to the influence of other tech regions, and not necessarily the ability of its own people.
With this in mind, Rensource, a distribution solar company, is coming from the heart of Nigeria itself with the goal of proving that Nigerians themselves know the best way to solve one of the country’s biggest issues – power. Instead of just focusing on how to bring solar power to Nigeria, Rensource has crafted a business model that directly correlates to the Nigerian market, in order to combat the underdeveloped and dilapidated power generation and transmission structure.
According to Rensource, Nigeria provides grid generation equating to less than 35 watts per head. This is comparison to South Africa, which enjoys a grid capacity of 755 watts. Due to these terrible grid power numbers, Nigerians must rely on over 60 million inefficient, expensive, and polluting fossil-fueled generators to generate 70% of their power needs.
Rensource aims to lead the Nigerian solar revolution with its Power-as-a-Service (PaaS) solar-power system. Consumers and enterprises can subscribe to a level of membership that is compatible with their power needs for an agreed amount. Rensource provides its customers with an appropriately sized solar hybrid system. The equipment is then installed at the customer’s’ premises, where it is maintained and serviced by Rensource. The customer never needs to incur the cost of buying solar-hybrid equipment, nor do they have to worry about how to benefit from falling technology costs in the future.
Rensource products have been developed with the Nigerian consumer and small business in mind. They feature advanced lithium-based battery technology combined with robust battery management systems to ensure long service lives. In addition, Rensource uses advanced monitoring and connectivity technology to provide the customer with an unprecedented level of information and control over their power usage.
However, the biggest issue facing Rensource is the competition. They are not the first, nor the last company, that is attempting to re-invent solar power, nor change up the ‘power structure’ that is happening throughout the world. The main takeaway that Rensource has is that since the company is coming from Nigeria’s own people, it has the ability to completely revolutionize the power structure in Africa.