African Property Development Firm Partners Online Leasing Platform during a BTC for Solar Cells Scheme
South African property developer, New Age Properties, says it's partnered with Sun Exchange, a web leasing platform, as a part of an attempt to bring cheap and clean energy to low-income earners.
Bitcoin for Solar Cells
According to the 2 companies’ working arrangement, Sun Exchange, which also accepts payment in BTC form, will enable buyers of solar cells to lease electricity to Watergate Estate, one among South Africa’s first low-cost gated community public housing .
Meanwhile, an area report explains how the consummation of this partnership will represent a key milestone for the South African property developer, Anver Essop. additionally to fulfilling his desire to bring back “green, safe and cheap homes across South Africa”, the arrangement with Sun Exchange also helps Essop realize his objective of bringing the perks or benefits related to South Africa’s affluent gated communities to low-income earners.
“We thought, why don’t we give people an equivalent product we integrate wealthier areas and uplift them to enhance their own lives,” explained Essop.
According to the report, Sun Exchange cells are often bought with cash or bitcoin for $6 (90 rands) each. The owners can then “lease the electricity generated to Watergate at a pre-agreed price, saving them nearly 40% in electricity costs over 20 years.” Once that time is reached, the project are going to be decommissioned or Watergate will have the choice to get the solar energy system outright.
Using Crypto to Offset Carbon Footprint
In the meantime, the report also quotes Sun Exchange founder Abe Cambridge explaining how the web leasing platform is using bitcoin to power clean energy. Cambridge said:
By combining cryptocurrency and energy, you finish up with someone sitting in London getting an income from selling green energy where it's needed and offsetting their carbon footprint.
The online marketplace founder also reveals that “about 470 people across the planet bought solar cells for Watergate, and of the 39 Sun Exchange projects launched thus far , it's the primary getting used to power affordable housing.” While the energy produced by the cells will initially be linked to the national grid, Cambridge said he “hopes to feature A battery which will store solar energy to guard residents from blackouts.”
Meanwhile, the report states that Sun Exchange has plans to expand into other parts of Southern Africa through “a partnership announced last year with one among Zimbabwe’s biggest fruit and tobacco producers, Nhimbe Fresh.” There also are plans to form the web marketplace a worldwide platform in Latin America and Southeast Asia , where there are similar energy challenges are experienced.