Consistent Energy Ltd, a stand-alone rooftop solar energy company, was incorporated in January 2015 and started operations in 2016 to deploy stand-alone rooftop solar to SMEs for productive use with the pioneering of solar barbershops in Nigeria. To date, we have deployed well over 2.5MWp of cumulative energy and displace over 2,500 small generators which consumes average of 2,000 litres of fuel per year. The company deploys solar PV for SMEs including barbershops, pharmacies, market stalls, betting shops, schools, hospitals, etc aimed at displacing polluting petrol generators. We offer lease-to-own and pay-as-you-go business model to SMEs with a minimal down payment and options to pay over 2-3 years on an equal and weekly repayment. We work with trade associations, cooperatives and groups of SMEs and take cross guarantees. We have also deployed PaygOps software for collections with remote monitoring and offer clients a robust warranty package backed by after sales services.
Our market remains the over 40m MSMEs in Nigeria, 80% of which are powered by small generators spending average of $1600 yearly on fueling. Our Total Addressable Market is $10b annual with Servicable Addressable Market of $0.5b. Our growth strategy is to deepen penetration in urban and peri urban markets such as Lagos, Abuja, Kano, Akure, Uyo, etc. SMEs in Lagos alone spend almost $2b annually to purchase fuel for generators, with over 145 days of outages in a year. We plan to displace 200,000 generators with our technology by year 2030 thereby impacting 1 million beneficiaries across the country.