Nigerian Startup Makes Solar Power More Accessible to Small Businesses

For many small businesses in Nigeria, keeping the lights on comes at a steep cost. Unreliable electricity supply forces business owners to depend on petrol and diesel generators, leaving less money for expansion, new equipment and additional staff. A Nigerian startup, Earthbond, is working to change that by helping businesses access solar power without having to navigate the entire process alone.

Founded in 2023 by Chidalu Onyenso, Earthbond provides businesses with support to assess their energy needs, secure financing, install solar systems and maintain them. Its approach addresses a major barrier to clean energy adoption: many small businesses could benefit from solar power but struggle with the upfront cost, technical decisions and difficulty finding reliable providers.

Onyenso began exploring the problem while studying at Harvard Business School. During research visits to Lagos, she spoke with business owners about the obstacles preventing their businesses from growing. Energy costs repeatedly emerged as a major concern, particularly for businesses relying on generators to keep operating during power outages.

She saw an opportunity to make solar energy more accessible by connecting businesses with suitable installations and financing options. As fuel prices rose and solar equipment became more affordable, the economics of switching to solar became increasingly attractive for many businesses.

Earthbond initially focused on connecting business owners with existing financing products and solar providers. It has since expanded its role, guiding customers from the initial energy assessment through financing, installation and ongoing maintenance. The company places emphasis on ensuring that each business receives a system suited to its needs, helping customers achieve the savings required to make their investments worthwhile.

One example is a medical diagnostic laboratory in Lagos that installed solar panels with Earthbond’s support. The installation reduced the laboratory’s monthly energy costs by as much as 40 per cent. More reliable electricity also helped prevent delays in medical test results caused by power outages. The savings created room for the business to employ additional staff.

The benefits extend beyond individual businesses. When entrepreneurs spend less on powering their operations, they can redirect resources towards growth, employment and improved services. Reliable electricity can also help businesses serve customers more consistently, rather than losing productive hours whenever the grid fails.

Earthbond reported that it had worked with more than 400 small and medium-sized businesses by September 2026 and helped replace more than 300,000 litres of fossil fuel. The company had also reached cash-flow-positive status, with a team of 14 full-time employees and a network of 75 installers in the Lagos region.

Its next ambition is to strengthen the wider solar energy ecosystem by supporting collaboration among installers, financiers and other service providers. Rather than simply supplying equipment, Earthbond wants to help create a system in which more businesses can access reliable clean energy and the companies delivering those solutions can grow sustainably.

The challenge remains substantial. Financing, equipment quality and access to dependable maintenance can all influence whether a business can successfully transition away from generators. Solutions that bring these elements together could help more small businesses make the switch.

Earthbond’s experience illustrates how renewable energy can become more than an environmental choice. For Nigeria’s small businesses, affordable and reliable power can mean lower operating costs, fewer interruptions, more jobs and a stronger foundation for growth.

Source: Harvard Business School Alumni — A Solar Solution for Nigeria’s Small Businesses