Question 1

What is Powerfull and how does it work?

Accepted Answer

Powerfull is a Lagos-based energy fintech that helps businesses access solar financing. It installs a smart meter on a solar asset to track energy usage and feed lenders repayment and consumption data, while a smart wallet monitors loan repayment and can remotely disconnect defaulting users. Individuals can also use its app to buy electricity units directly.

Question 2

How much does Powerfull cost?

Accepted Answer

Powerfull does not sell solar assets directly; it charges a processing fee on the loan repayments it collects for lenders. As of a 2023 report, this fee was around 7.5%, and its smart meters retailed from about ₦100,000, though current pricing is not publicly available. Pricing for individual electricity purchases through the app is also not listed.

Question 3

What countries does Powerfull operate in?

Accepted Answer

Powerfull operates in Lagos, Nigeria, with plans to expand to Abuja and Port Harcourt. It has also run a separate smart meter research trial for households in the UK.

Question 4

How do I sign up for Powerfull?

Accepted Answer

Businesses and institutions typically sign up by connecting with Powerfull's credit partners or contacting the company directly to have a smart meter installed on their solar asset. Individuals can sign up through the Powerfull mobile app to purchase electricity units.

Question 5

Does Powerfull have a mobile app?

Accepted Answer

Yes, Powerfull has a mobile app available on Android that lets users monitor energy usage and purchase electricity units. iOS availability is not specified.

Question 6

Who is Powerfull best suited for?

Accepted Answer

Powerfull is best suited for Nigerian businesses, residential estates, schools, hotels, offices, and hospitals that need financing to acquire solar assets, as well as the lenders and solar asset financiers that serve them. Individuals can also use its app to buy electricity units.

Question 7

How do I contact Powerfull support?

Accepted Answer

You can contact Powerfull support by emailing support@powerfull.tech or admin@powerfull.tech.

Question 8

Does Powerfull have a plan for teams or businesses?

Accepted Answer

Yes. Powerfull's primary business is B2B, working with businesses, institutions, and solar asset financiers on solar loan financing and repayment monitoring, alongside a smaller B2C option for individuals to buy electricity units.

Question 9

Does Powerfull offer an API or integrations?

Accepted Answer

Powerfull integrates with smart meter and payment infrastructure, including Steamaco's API for its meters, but there is no public self-serve API for third-party developers.

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