Leveraging Bitcoin & Blockchain For 'Solar Power' Sun Exchange Scores $1.6M From U.S. Investors

Roger Aitken for Forbes:  Sun Exchange, a peer-to-peer solar equipment leasing marketplace based in South Africa, has raised $1.6 million (m) in seed financing from strategic partners including New York-based Network Society Ventures and three globally leading technology accelerators from the U.S. to “accelerate global access” to solar power. They are also combining blockchain technology and cryptocurrency with solar leases.

Leveraging blockchain and Bitcoin to increase transparency and reduce the costs of the cross-border transactions, both problems that inhibit the majority of commercial solar projects - from accessing traditional funding options - the Solar Energy Marketplace hopes to transform the sector with a few taps on the screen.

With Sun Exchange anyone can buy remotely located solar cells and earn rental income from them. Assets are recorded on the blockchain, and income is paid in crypto-currency - what is dubbed as “streaming monetized sunshine” around the world. And, in the process the protagonists behind the project have asserted that solar energy forms a crucial part of the “save the world tool-kit.”

Members of the market place can have their solar cells installed and rented to hospitals, factories, schools and rural communities in Africa and the Middle East, earning them income from solar powering the developing world.  Full Article:

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

S-5!® PVKIT™ 2.0 Solar Rooftop Solutions

S-5!® PVKIT™ 2.0 Solar Rooftop Solutions

The concept of combining PV arrays with standing seam metal roofing is growing-for good reasons. Metal roofs have a life expectancy of more than 40 years. Shouldn't the mounting system last as long? With S-5! zero-penetration attachment technology and PVKIT 2.0, the solarized metal roof is the most sustainable system available -and without compromising roof warranties! PVKIT 2.0 is the also the best solution for attaching PV modules directly to any exposed fastener metal roof.