PAYGo business models jointly address the challenges of energy access and financial inclusion for the more than one billion people — mainly rural and low income — who remain off-grid. PAYGo companies enable rural, low income populations to access modern clean energy solutions. Our analytical tools and client services help build investor confidence in this innovative business model. The impact of PAYGo solar companies is undeniable. In less than five years, they have improved the quality of life of some eight million people—primarily in Sub-Saharan Africa—by bringing clean energy and financing to customers that traditional utilities and financial institutions have ignored. This new business model has received a great deal of attention from investors and the development community because of its potential role in addressing the energy access gap. Despite that potential, the pathway toward a productive, resilient, and customer-centric ecosystem of PAYGo lenders remains uncertain. At the root of that uncertainty is the complexity of the business models.