From surplus to solution: SOLshare is propelling solar energy innovation in Bangladesh
Access to clean energy is a global concern. In Bangladesh, there are millions of solar home systems generating up to 30% surplus energy. However, the surplus power is not harnessed due to design limitations. Furthermore, the expanding electric vehicle (EV) industry has its challenges with 2.5 million EVs on the road but no adequate charging systems, reducing battery lifespan and increasing costs. Meanwhile, factory owners in the Global South are torn between scaling up production or opting for solar power solutions.
SOLshare was founded with the goal of providing inexpensive, renewable power to the most vulnerable communities. Bangladesh has the largest off-grid solar power program in the world, with 6 million households and 25 million people already reached.
Identifying the potential of Bangladeshi solar energy, SOLshare has developed the world’s first peer-to-peer energy trading network, allowing rural families and small enterprises with rooftop solar installations to trade electricity cheaply. They have scaled their peer-to-peer microgrid model, with 120 SOLgrids installed nationwide, including Rohingya refugee camps.
The firm is developing Bangladesh’s first Virtual Power Plant (VPP), which aims to stabilize up to 30% of peak grid demand by switching Dhaka’s electric rickshaw fleet from polluting lead-acid to cleaner lithium-ion batteries. SOLshare has also installed Bangladesh’s first solar photovoltaic-powered rickshaw charging station, further supporting greener transport solutions.
SOLshare is working with government and commercial entities to take forward the solar energy revolution. SOLshare and Shakti Foundation are integrating solar home systems with the national grid and electric three-wheeler charging points, allowing renewable energy to be fed back into the grid. This initiative extends system life, supports nationally determined contributions to renewable energy targets, and transforms communities into proactive energy contributors.
In partnership with BESTSELLER, an international fashion company based in Denmark, the Greener Garments Initiative (GGI) finances and delivers solar systems to factories. The first solar panels installed in this partnership will reduce approximately 2,600 tonnes of carbon emissions over 20 years, contributing to the factory’s total energy consumption and supporting renewable energy targets.
SOLshare’s solutions have already improved the lives of over 80,000 people and prevented the emission of over 2,700 metric tons of CO2. The company recently raised US$2.2 million in Series A+ funding, furthering its mission to create a global smart solar photovoltaic (PV) and storage network. An additional US$5.6 million Horizon EU grant is also set to drive energy transition activity in Africa. By 2030, SOLshare expects to have more than 10,000 nanogrids installed in Bangladesh, expanding its customer base of more than one million.Solving the climate crisis requires enabling an army of innovators to transform how we live and work in every industry and community. Initiatives like SOLshare can revolutionize the global energy paradigm, transforming surplus into solution and assuring a more sustainable future for everybody.
