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MicroEnergy Credits – Microfinance for Clean Energy Product Lines – Mongolia

Description


Project Name: MEC Mongolia

Project owner: MEC

Standard: Gold Standard

Project ID: 2434

The project takes place in Ulaanbaatar, the coldest capital city in the world, with an average winter temperatures of -20 degrees Celsius, and the second most polluted city in the world.It involves the installation and maintenance of efficient cookstoves and home insulation technology.
The current practice in Mongolia is to use inefficient stoves and home insulation at the household level, resulting in necessary combustion of large amounts of coal. The use of these fuels generates a variety of gases including Carbon dioxide. The replacement of these traditional products with Clean Energy Products reduces the amount of fuel required for heating, and reducing the amount of GHG emitted into the atmosphere.
Thanks to a microfinancing system, users can benefit from affordable clean energy stoves.

MicroEnergy Credits (MEC) is a social enterprise that helps microentrepreneurs and low-income households in developing countries to invest in clean energy through their local microfinance institution. Many microentrepreneurs and households lack access to clean energy technologies due to economic barriers and market inefficiencies. MEC addresses these barriers by working with microfinance institutions to market affordable, reliable clean energy products right to doorstep of the microentrepreneurs

Impact


Traditional stoves produce harmful smokes.

The project reduces indoor air pollution by 80% and related risk to respiratory diseases.

MEC used the local workforce to implement the program.

The installation of the insulation is done by local people who are trained about how the technology works.

Traditional stoves use a lot of wood fire to produce heat and cook the meals.

The new stoves can reduce fuel costs up to 66% thanks to a better efficiency from the stoves and a better home insulation.

Many households lack access to clean energy technologies due to lack of access to upfront finance or lack of awareness of clean energy products and their value proposition

MEC addresses these barriers by working with microfinance institutions to market affordable, reliable clean energy products.

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