Building Energy Equity: How Grinplus Aims to Transform the REC Market
What was your biggest achievement over the last year?
Our greatest achievement this past year was overcoming numerous challenges to successfully launch Grinplus in the market. Within our first month of operations, we attracted the interest of over 300 panel owners across various Latin American countries.
Where will your solution have the greatest impact in the next phase, and why?
Grinplus aims to make a significant impact across Latin America, particularly among small-scale renewable energy generators. For purchasing companies, Grinplus serves as a key ally in channeling their sustainability commitments.
Can you describe your prototyping process and how your solution evolved over time?
Grinplus uses an iterative process to identify the best solution to address the problem at hand. In each iteration, we keep what works best, remove what doesn’t, and improve promising aspects for the next version. We began with basic functionality, and once a feature was completed during an iteration, we introduced a new one in the subsequent round.
Can you share a memorable user or field test and the key lessons you learned?
A memorable test involved our onboarding screen. Initially, it included technical information we needed to onboard clients and inverters. However, during testing, a user remarked, “I have no idea what some of this information means!” This feedback prompted us to simplify the screen by removing technical jargon and creating detailed guides for each inverter, making it easier for users to provide the required data.
How has being Open Source benefited your solution and your company? Can you provide specific examples?
Initially, we planned to develop specific code for our needs, such as interacting with a certificate-issuing platform. However, adopting an Open Source approach changed our perspective. Although challenging at first, this shift improved our design process and offered significant benefits. For example, we revamped our interface to ensure compatibility and scalability, resulting in a more robust and versatile solution.
How has your business model and strategy evolved over the past year, and what are your biggest achievements and growth plans for the next year?
Our business model has remained consistent, but it’s still early days since we launched just over a month ago. As we grow, we aim to refine our strategies and achieve greater market penetration.
Who are the key collaborators you’re seeking, and how can they add value to your business?
We are actively seeking certificate buyers who understand the social impact their purchases can create. Additionally, we aim to collaborate with non-profits and companies to connect with small power generators in different regions worldwide.
Where are the biggest obstacles/challenges you think your company will need to address or work around?
We’ve faced various challenges this year, ranging from generating certificates and engaging panel owners and buyers to resolving technical issues like connecting to investors. These obstacles have pushed us to find innovative solutions and adapt our approach.
What are you most excited about for your company next year, and what are your main goals?
Next year, we’re excited to expand our certificate offerings across more regions in Latin America. In November 2024, we began exploring opportunities in Colombia, Argentina, and Mexico, and we’re eager to build on this momentum.
How has the UNICEF Venture Fund supported your solution beyond financing?
Beyond financial support, UNICEF provided invaluable mentorship on topics like open source development, diversity, and strategic planning. These sessions deepened our expertise and helped us refine our approach in critical areas where we previously lacked experience.
During the investment process, you learned about the existing industry for buying Renewable Energy Certificates (RECs). Based on your knowledge, what message would you have for large corporates or other potential buyers for how they support smaller solar providers?
Large corporations have a unique opportunity to create meaningful social impact by purchasing certificates. Models like ours enable them to redirect existing expenditures toward initiatives that benefit smaller solar providers and communities in need.
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