South African real estate developer New Age Properties said it has partnered with online leasing platform Sun Exchange as part of an effort to bring cheap and clean energy to low-income earners.

Solar battery of Bitcoin

According to the working arrangements of the two companies, Sun Exchange (which also accepts payments in the form of BTC) will enable solar cell buyers to lease electricity to Watergate Estate, one of the first low-cost gated community housing projects in South Africa.

At the same time, local news reports explained how the completion of this partnership will represent a key milestone for South African real estate developer Anver Essop. In addition to fulfilling his desire to bring “green, safe and cheap houses throughout South Africa”, the arrangement with Sun Exchange also helped Essop achieve his goal, which is about the benefits or benefits associated with South Africa’s wealthy gated communities Brought to low-income earners.

“We thought, why not provide people with the same products we produce in wealthier areas and improve people’s living standards,” Essop explained.

According to the report, Sun Exchange cells can be purchased with cash or bitcoin at a price of $6 (90 rand) each. Then, the owner can “rent the electricity to Watergate at a pre-agreed price, saving them nearly 40% of electricity costs within 20 years.” Once this point is reached, the project will be decommissioned, or Watergate can choose to purchase the solar system directly.

Use encryption technology to offset carbon footprint

At the same time, the report also cited Sun Exchange founder Abe Cambridge’s explanation on how the online rental platform uses Bitcoin to power clean energy. Cambridge says:

By combining cryptocurrency and energy, you end up with someone sitting in London who earns income by selling green energy where it is needed and offsetting their carbon footprint.

The founder of the online marketplace also revealed: “About 470 people around the world have purchased solar cells for Watergate. Of the 39 Sun Exchange projects launched so far, this is the first project used to power affordable housing. Although the energy produced by these batteries will initially be connected to the national grid, Cambridge University said that he “hopes to add a battery that can store solar energy to protect residents from power outages.”

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At the same time, the report pointed out that Sun Exchange plans to expand its business to other parts of Southern Africa by “establishing a partnership with Nhimbe Fresh, one of the largest fruit and tobacco producers in Zimbabwe last year.” It also plans to make the online market a global platform for Latin America and Southeast Asia, where similar energy challenges are also encountered.

What is your opinion on this partnership between Sun Exchange and New Age Properties? Tell us what you think in the comments section below.

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