MicroEnergy Credits (MEC) is a social venture, aiming for the triple bottom line of social, environmental, and financial sustainability goals.
It connects people to clean energy by working with financial institutions to lend for clean energy projects such as solar lighting, efficient and clean cookstoves, water purification and efficient housing. MEC catalyzes banks to do clean energy lending with carbon funds and supplier incentives, and then strengthens them with cloud based technology. And MEC sells credits to companies like CitiGroup and Microsoft. MEC has reached over a million people with clean energy via operations in Asia and Africa.
MEC works at the intersection of two rapidly growing markets: microfinance and clean energy products.
Over 2.5 billion people worldwide currently use traditional fuels which could be replaced by clean technologies. MEC conservatively calculates the potential market size for microfinance-linked carbon financing for such clean energy products at over $8 Billion per year.
MEC provides value to all of its stakeholders. To microfinance clients, MEC provides clean energy products that save money, improve their lives and clean the planet. To banks, MEC provides a package of financial incentives from carbon and product companies that make clean energy lending profitable. To product companies MEC provides access to a market channel exceeding 35 M households. And to corporations concerned with Corporate Social Responsibilty (CSR) MEC provides charismatic credits that are also an auditable record carbon reduction.
By partnering with MicroEnergy Credits, MEC’s partners can access carbon funding with minimal transaction costs and time delays.
Based in: Seattle, WA
Founded in: 2007