Carbon credits are how illumination and our distributors can sell our high quality products at a price low enough that even the world’s poorest people can afford.
Carbon credits are created by reducing the amount of greenhouse gases that would have otherwise been emitted into the atmosphere. illumination’s solar lights achieve this by avoiding the burning of kerosene in lanterns. Sales of illumination lights therefore create valuable carbon credits which are then sold to large polluters in developed countries. This additional revenue that is shared between us and our distribution partners eliminates the need for high sales margins, and enables us to sell our high-quality solar lights at a fraction of the cost of alternative products.
The set-up process required to generate carbon credits however is not easy, cheap nor fast. It requires a rigorous registration process with the United Nations (UNFCCC) and significant engagement with host country governments to gain approval for our projects. illumination has overcome these challenges thanks to the formation of our alliance with “CarbonSoft”, an entity backed by Africa’s largest bank, Standard Bank. Our unique alliance with CarbonSoft means that illumination and our distribution partners can now start generating carbon credit revenues much faster and cheaper than otherwise would be the case.
Being able to generate this additional revenue means that illumination’s products are cheaper for our customers, we can help more people to start using solar power for lighting, and we can reduce more greenhouse gas emissions… all while still making returns for illumination and our distribution partners.