Lumos

The company's core business revolves around a Solar Power as a Service model, offering solar home systems through a pay-as-you-go (PAYG) payment structure. This approach removes the significant upfront cost barrier typically associated with acquiring a solar system. Customers make a small initial payment to receive a Lumos kit and then pay for electricity in small, regular installments via their mobile phones. After a period of up to five years of subscription payments, ownership of the system transfers to the customer. This model was developed by leveraging the prevalence of mobile technology and pre-payment systems in Africa.

Lumos' product is a self-installable 'power station in a box' which includes a solar panel (typically 80W), a large-capacity battery unit, power sockets, an inverter, LED lights, and a mobile phone charger. These systems are designed to power a range of small electronic devices such as lights, fans, computers, and TVs. The company has differentiated itself by offering larger systems capable of supporting not just households but also small businesses, enabling them to extend operating hours and increase revenue. Key strategic partnerships, most notably with mobile network operator MTN, have been instrumental in the company's distribution and payment collection strategy. Lumos products are promoted and sold through hundreds of MTN stores, and customers use their mobile airtime to pay for the electricity service. The company has expanded its operations from Nigeria to also serve Côte d'Ivoire.

Significant milestones for the company include securing $90 million in funding in 2016, which was the industry's largest investment at the time. This was followed by an additional $35 million from the U.S. International Development Finance Corporation (DFC) in 2020 to expand its reach in Nigeria. By 2017, the company had sold over 65,000 systems in Nigeria and began its expansion into Côte d'Ivoire. The company also won the Ashden Award for Energy Access Frontiers in 2018. Keywords: off-grid solar, pay-as-you-go solar, solar home systems, renewable energy, Nigeria, energy access, mobile payments, clean energy, West Africa, solar-as-a-service, rural electrification, distributed energy, MTN partnership, energy poverty, Côte d'Ivoire, sustainable development, impact investing, solar technology, emerging markets, financial inclusion