The Problem
There are approximately 1.5 billion people (over 20% of the world’s population) without a consistent source of light in their homes. Being marginalized from the grid has dire consequences: (i) illiteracy, (ii) continued poverty due to lack of productivity tools, and (iii) risk of respiratory diseases for children due to kerosene inhalation.
Due to the location and difficulty to power these communities, it is unlikely that the public electrical grid will reach these families.
The Approach
QUETSOL provides technology solutions to address the energy demands of a wide variety of users at a lower ecologic, social, and economic cost.
The company provides its customers the necessary tools, including financing, in order to become energetically independent, thus increasing their productivity and development. Through product innovation, appropriate technology, national coverage, and micro-financing, the product acceptance and market penetration has grown aggressively and steadily.
The Progress + Traction
QUETSOL has illuminated over 2,200 homes, benefiting around 10,000 people. After signing the strategic alliance with the largest bank in Guatemala for the micro-financing of its products, the company projects to install 20,000 systems by the end of 2014, benefitting around 90,000 people.
Additionally, both co-founders are AGORA Partnerships Fellow and the company was a runner up for the Schwab Foundation Entrepreneur of the Year for Central America and the Caribbean.