Energy sector development and modernization are capital intensive. Also, household electricity consumers usually do not have access to traditional big investors. That’s why social enterprises, charities, and other organizations sometimes raise capital for energy projects. They use campaigns on donations, rewards, debt, and equity to raise funds to finance energy projects.
Currently, crowdfunding is primarily a financial instrument in the developed world, but there is a potential for developing countries to benefit from this form of financing.
Wintertime power blackouts in various areas of Uzbekistan are still a serious problem. And primary social facilities such as schools, hospitals, and kindergartens suffer from the power shortage. The government has been implementing different programs to address the power supply problems, with little progress. However, to boost up the process we can look for supplementary ways of financing for local-level energy-related projects.
In this sense, crowdfunding could be a good candidate offering several advantages for small energy projects that might not have access to products of traditional financing mechanisms as government programs and banks.
The current research will attempt to reveal the potential of Uzbekistani public for developing solar energy. A survey will be conducted to learn about the willingness and financial capabilities of potential crowdfunding investors.