Most people in Les Anglais will not be able to afford the high initial costs of the more sophisticated energy systems, which retail for over US$150. Microfinance has emerged as a tool in developing countries around the world to empower the poor by providing access to small amounts of credit. The success of microfinance was acknowledged with the awarding of the Nobel Peace Prize to Muhammad Yunus, one of microfinance’s pioneers, in 2006.

EarthSpark has entered into a landmark agreement with Fonkoze, Haiti’s foremost microfinance institution, to devise a unique credit program specifically designed to enable the purchase of more expensive energy systems. This type of financing, known as “energy lending,” has been deployed throughout Asia, Africa, and Latin America. Such programs ensure high rates of success by structuring loan payments to match existing energy expenditures, thereby delivering the benefits of switching to clean energy to the loanee.

Our pilot program will finance 100 solar home systems starting in early 2010.