Sun Exchange, the solar leasing platform, announces a major development: a crypto investor funds a sizable solar project with Bitcoin, delivering clean energy to Pretoria Boys’ High School.
Earn-as-you-Use
This individual has utilized the Sun Exchange platform to procure 98% of all solar cells within the project. This not only allows them to earn income for the next two decades from the generated clean energy but also facilitates the school in acquiring solar power without any initial capital expenditure.
Reduction of Carbon Emissions
The solar system, boasting a capacity of 198 kilowatts, is projected to reduce carbon emissions by a remarkable 5,800 tonnes over a span of 20 years. This reduction is tantamount to removing 210,000 petrol cars from the roads for an entire year.
Beyond environmental benefits, the solar installation is expected to curtail the school’s energy expenses and mitigate their reliance on diesel generators during periods of load shedding.
Saul Wainwright, CEO of Sun Exchange, remarked, “As the tangible impacts of climate change continue to materialize globally, it’s imperative that we expedite the scaling of solutions that address the solar finance gap for smaller projects in emerging markets, while concurrently tackling the energy crisis.
Power of Cryptocurrency and Fintech to Unlock Capital
This project and the participation of a school alumnus and crypto investor in purchasing solar cells exemplify the potential of cryptocurrency and innovative fintech in unlocking capital for the transition to clean energy.
In collaboration with our global community, we’re carving a path toward a more sustainable future, where clean energy and technological innovation converge to reshape our landscape.”
Solar Cells to Power Entities
Sun Exchange empowers solar crowd sales for schools, homes, farms, and more via its online platform. Individuals and businesses can acquire solar cells, which power various entities in Southern Africa, utilizing either Bitcoin or traditional currency.
The organizations benefiting from solar power pay solely for the energy they consume. Owners choose Bitcoin or Rand for income, deposited into an online wallet by the platform from solar cell earnings.
Transformative Power of Blockchain and Solar Energy Technologies
Expressing their enthusiasm, an anonymous investor stated, “The convergence of solar energy and blockchain represents two of the most transformative technologies of our era. When I stumbled upon this solar project, designed to power my alma mater, I was both captivated and exhilarated.
With the speed of global peer-to-peer digital transactions, individuals now possess the ability to finance and reap the rewards of solar power with a simple click. This marks the beginning of a new era, where sustainable innovation takes center stage.”
Pretoria Boys’ High School, established in 1901, is a distinguished institution providing top-tier education to over 1,500 students. Notable alumni: Rhodes scholars, judges, archbishops, Damon Galgut (Booker Prize), Elon Musk, Mark Fish (cricketer), Max Theiler (Nobel laureate).
Greg Hassenkamp, Headmaster of Pretoria Boys High School, expressed delight in the partnership, saying, “We are thrilled that an alumnus of the school and a crypto enthusiast has chosen to embark on this journey towards sustainability with us.
Clean energy will be a boon to our entire campus, spanning classrooms, laboratories, and event spaces. Simultaneously, the project will lower our energy expenses and carbon footprint, while also highlighting the substantial influence of technology and innovation as the school progresses toward a greener future
Source: itnewsafrica
