SOLbazaar, Bangladesh, the world's first peer-to-peer energy exchange network, has been named as one of the 15 finalists for the Earthshot Prize 2021.
The Earthshot Prize has announced its first ever shortlist of 15 finalists, each with a chance of winning £1.0 million to support their innovative environmental solutions to the greatest challenges facing the planet.
Five of these 15 finalists announced will be awarded The Earthshot Prize and will win £1.0 million in Prize funding for the best solutions of the five Earthshot goals: Protect and Restore Nature; Clean our Air; Revive our Oceans; Build a Waste-free World, and Fix our Climate.
The winners will be announced during an awards ceremony on October 17 from London's Alexandra Palace, broadcast in the UK on BBC One and globally on Discovery, reports UNB.
"Over half a century ago, President Kennedy's 'Moonshot' programme united millions of people around the goal of reaching the moon. Inspired by this, The Earthshot Prize aims to mobilise collective action around our unique ability to innovate, problem solve and repair our planet," Prince William said.
"I am honoured to introduce the 15 innovators, leaders, and visionaries who are the first ever Finalists for The Earthshot Prize. They are working with the urgency required in this decisive decade for life on Earth and will inspire all of us with their optimism in our ability to rise to the greatest challenges in human history."
Launched by Prince William and The Royal Foundation in October 2020, The Earthshot Prize is the most prestigious global environment prize in history.
Like President John F. Kennedy's 'Moonshot' did almost 60 years ago, the Prize aims to unleash an unprecedented wave of innovation and leadership to tackle the challenges posed by climate change and the threats to our oceans, air, and land.
Bangladesh-based SOLshare created SOLbazaar.
Homes with a rooftop solar panel sell any excess electricity into a microgrid network where others can buy it.
It helps the environment, but also gives poor communities a new and plentiful source of income: the sun.
SOLshare's 72 grids have already helped more than 7500 people in remote communities.
They also reduce emissions by 30 per cent and make money for its prosumers in real-time.
Energy trading has boosted some household incomes by 25 per cent.
Winning The Earthshot Prize would help SOLshare expand its reach and business line, integrating micromobility based on 1.75 million e-rickshaws, the country's remote transportation backbone. It's proof that the nations most threatened by climate change - like Bangladesh - can lead the fight against it.
The Prize is an urgent call to action to the world and aims to turn the current pessimism surrounding environmental issues into optimism, by championing inspiring leadership and helping to scale incredible cutting-edge solutions.
It will discover 50 winners over 10 years with the power to repair the planet.
A truly global project, The Earthshot Prize has been developed by The Royal Foundation, which convened a diverse nominator coalition of more than 200 people and organisations around the world from every continent, a distinguished Expert Advisory Panel, and The Earthshot Prize Council comprising influential individuals committed to championing positive environmental action.
The inaugural 15 Finalists were assessed by the Expert Advisory Panel of scientific, academic, and subject-matter leaders.
Each of the finalist's solutions excelled in the rigorous screening process and were assessed on their potential to create game-changing impact around the world, their ability to help us reach our Earthshot goals while also positively impacting people, communities and the natural world.
All 15 finalists will receive tailored support and resources from The Earthshot Prize Global Alliance Members, an unprecedented network of private sector businesses around the world who will help scale their solutions to realise an even greater impact with their ground-breaking work.