African Property Development Firm Partners Online Leasing Platform in a BTC for Solar Cells Scheme – Emerging Markets Bitcoin News

African Property Development Firm Partners Online Leasing Platform in a BTC for Solar Cells Scheme – Emerging Markets Bitcoin News

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African Property Development Firm Partners Online Leasing Platform in a BTC for Solar Cells Scheme – Emerging Markets Bitcoin News

Affirming the future of cryptocurrency, on the other hand, is a recent partnership between a solar cell leasing firm and a leading online leasing platform. Their new partnership, which has the potential to completely revolutionize the world of solar energy, will allow subscribers of the online leasing platform to lease solar panels in exchange for bitcoin.

African Property Development Firm Partners Online Leasing Platform in a BTC for Solar Cells Scheme – Emerging Markets Bitcoin News

South African property developer New Age Properties has announced a partnership with Sun Exchange, an online rental platform, to provide low-income communities with clean, low-cost energy.

Bitcoin for solar panels

As part of the working agreement between the two companies, Sun Exchange, which also accepts payments in the form of BTC, will allow solar buyers to lease electricity for Watergate Estate, one of the first affordable sheltered housing projects in South Africa.

According to local media reports, the conclusion of this partnership will be a significant step for South African property developer Anwer Essop. The agreement with Sun Exchange will not only help Essop realise its desire to create environmentally friendly, safe and affordable homes throughout South Africa, but also achieve its goal of transferring the benefits of South Africa’s affluent residential areas to low-income people.

We thought: Why not give people the same product we make in richer areas and uplift them so they can improve their own lives, Essop said.

According to the report, Sun Exchange cells can be purchased in cash or bitcoin for $6 (R90) each. Homeowners can then lease the electricity they produce to Watergate at a pre-determined price, saving almost 40% on their energy costs over 20 years. Once this deadline is reached, the project will be discontinued or Watergate will have the opportunity to take ownership of the solar system.

Use of cryptocurrencies to offset carbon footprint

The report also quotes Abe Cambridge, founder of Sun Exchange, on how the online rental platform uses bitcoin to generate clean energy. Cambridge said:

Combine cryptocurrency and energy and you end up with someone who lives in London and earns an income by selling green energy where it’s needed and offsetting his carbon footprint.

The founder of the online marketplace also said that about 470 people worldwide have bought solar panels for Watergate, and that of the 39 Sun Exchange projects launched so far, this is the first to be used to power affordable homes. Although the energy generated by the cells will initially be connected to the national grid, Cambridge hopes to add a battery that can store the solar energy to protect residents from power outages.

According to the report, Sun Exchange is meanwhile planning to expand to other parts of South Africa through a partnership announced last year with one of Zimbabwe’s largest fruit and tobacco producers, Nhimbe Fresh. There are also plans to make the online marketplace a global platform in Latin America and Southeast Asia, where similar energy problems exist.

What do you think of the partnership between Sun Exchange and New Age Properties? Tell us what you think in the comments below.

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