Bangladesh-based SOLshare is the world’s first peer-to-peer energy exchange network.
Homes with a rooftop solar panel sell any excess electricity into a microgrid network where others can buy it. It helps the environment, but also gives poor communities a new and plentiful source of income: the sun.
SOLshare’s now 117 solar grids have already helped more than 10,000 people in remote communities. They also reduce emissions by 30% and make money for its prosumers in real-time. Energy trading has boosted some household incomes by 25%.
In the time since being named an Earthshot Finalist for their solution, the SOLshare team has achieved a nation first in Bangladesh, connecting a solar microgrid to the national grid which allows households to earn more income from their surplus solar energy.
They have also expanded to charge electric vehicles, opening their first 5 charging stations, and with the support of several Earthshot Prize Global Alliance Members they have expanded into rooftop solar with a pipeline north of 10MW.
Since becoming an Earthshot Prize Finalist in 2021, SOLShare has taken huge strides in clean energy rollout.
Following an introduction by The Earthshot Prize, global investment platform 2040 ventures will provide funding and support to SOLshare.
Having been introduced by The Earthshot Prize, SOLshare joined forces with fashion company Bestseller and its mother company Heartland, to create The Greener Garments Initiative Ltd. This new energy service company will build, own and operate up to 10 megawatts of solar rooftop projects among Bestseller’s suppliers in Bangladesh. The ambition is to reduce greenhouse gas emissions in garment factories. Global Alliance member Unilever also commissioned SOLshare to install solar energy at a depot in Bangladesh.
SOLshare has avoided more than 6x more emissions than it did in 2021.
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