Bitcoin, carbon footprint, Clean Energy, Cryptocurrency, Electricity costs, Solar Energy, Sun Exchange

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

Bitcoin for Solar Cells

According to the two 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 of South Africa’s first low-cost gated community housing project.

Meanwhile, a local news report explains how the consummation of this partnership will represent a key milestone for the South African property developer, Anver Essop. In addition to fulfilling his desire to bring to “green, safe and cheap homes across South Africaâ€, the arrangement with Sun Exchange also helps Essop realize his objective of bringing the perks or benefits associated with South Africa’s affluent gated communities to low-income earners.

“We thought, why don’t we give people the same product we build in wealthier areas and uplift them to improve their own lives,†explained Essop.

According to the report, Sun Exchange cells can be 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 point is reached, the project will be decommissioned or Watergate will have the option to purchase the solar power system outright.

Using Crypto to Offset Carbon Footprint

In the meantime, the report also quotes Sun Exchange founder Abe Cambridge explaining how the online leasing platform is using bitcoin to power clean energy. Cambridge said:

The online marketplace founder also reveals that “about 470 people across the world bought solar cells for Watergate, and of the 39 Sun Exchange projects launched so far, it is the first being 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 add a battery that can store solar power to protect residents from blackouts.â€

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 of Zimbabwe’s biggest 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 there are similar energy challenges are experienced.

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

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Du lịch nhật bản, hướng dẫn du lịch Nhật và đánh giá địa điểm Nhật Bản Japan travel news, japan travel guides, japan holiday destinations and japan reviews

RELATED NEWS

Ethereum Classic Rose 220% This Week, but Why?

Ethereum Classic, a seemingly forgotten cryptocurrency, reached the attention of many this week when its price skyrocketed out of the blue, but there might be some reasons behind it. Also, Bitcoin Cash and other Bitcoin-based forks enjoyed a healthy week in the green, alongside Dogecoin, whose price boosted on the news of Elon Musk appearing […]

Xem chi tiết: Ethereum Classic Rose 220% This Week, but Why?

South Korean Police Officers Banned From Buying Cryptocurrency

A recent ban imposed by the South Korean National Police Agency will bar particular officers from purchasing additional cryptocurrencies. The announcement coincides with a report revealing a heightened domestic availability of digital coins, in comparison to the global marketplace. South Korea to Penalize National Police Agency Officers Who Fail to Disclose Crypto Holdings Officers with […]

Xem chi tiết: South Korean Police Officers Banned From Buying Cryptocurrency

Binance Reaches Twitter Trending Topic Status in Venezuela

Binance, one of the largest cryptocurrency exchanges worldwide, has reached a trending topic status in the Twitter social network sphere in Venezuela. The trend before the weekend, shows just how important cryptocurrency topics are for the citizens of the country at the moment. Cryptocurrencies are extremely useful tools for Venezuelans to save their purchasing power […]

Xem chi tiết: Binance Reaches Twitter Trending Topic Status in Venezuela

Real Estate Listings Accepting BTC Touch Record Highs, 14.3 Homes per 100,000 Accept Crypto

Bitcoin and the crypto economy have been making their way into the world of real estate these days. A recently published report shows that Realtor.com data indicates that people selling property for crypto assets have risen a great deal. Statistics show that there are 14.3 crypto accepting listings per 100,000 homes in the company database. […]

Xem chi tiết: Real Estate Listings Accepting BTC Touch Record Highs, 14.3 Homes per 100,000 Accept Crypto

Crypto Payment Firm Simplex Acquired by Publicly-Listed Canadian Firm Nuvei for $250 Million

The publicly-listed Canadian firm Nuvei Corporation announced the acquisition of the cryptocurrency company SimplexCC Ltd in an all-cash deal for $250 million. The deal is pending regulatory approval and Nuvei expects Simplex to “enhance†the firm’s portfolio of alternative payment method solutions. Nuvei Acquires Crypto Payments Provider Simplex On May 6, the Canadian company Nuvei […]

Xem chi tiết: Crypto Payment Firm Simplex Acquired by Publicly-Listed Canadian Firm Nuvei for $250 Million

Marathon Mines First OFAC Compliant Bitcoin Block

Marathon, one of the biggest bitcoin mining dedicated companies in the U.S. and Canada, has mined the first OFAC compliant bitcoin block, only accepting transactions that comply with the directives of this government office. This has caused a stir in libertarian circles, that argue this can be the start of censorship in the bitcoin blockchain […]

Xem chi tiết: Marathon Mines First OFAC Compliant Bitcoin Block

Kenyan Capital Markets Regulator Wants Better Coordination With Other Bodies When Testing Crypto Assets

Kenya’s Capital Markets Authority (CMA) says the country needs a more encompassing approach that enables it to leverage other regulators’ expertise when testing crypto assets. Kenyan Crypto Interest Also, the Kenyan body, which favours a joint financial sector regulatory sandbox, says it is keen to forge “a common stance and joint-messaging with the Central Bank […]

Xem chi tiết: Kenyan Capital Markets Regulator Wants Better Coordination With Other Bodies When Testing Crypto Assets

Coinbase Announces San Francisco HQ Shutdown by 2022

Coinbase, the most prolific U.S.-based cryptocurrency exchange, has announced it will close the doors of its former San Francisco HQ by 2022, in its push to go 100% remote. Earlier the company had announced its intention of ditching the traditional office-based model to decentralize its operations and instead impulse work from home politics as part […]

Xem chi tiết: Coinbase Announces San Francisco HQ Shutdown by 2022

‘Gold Is Clearly Being Replaced by Digital Gold’- Precious Metal Markets Spike, Strategist Mike McGlone Calls PM Action ‘Meh’

Crypto Derivatives Exchange FTX Starts Offering Lumber Futures Amidst Commodities Price Boom

Coinbase Announces San Francisco HQ Shutdown by 2022

‘Gold Is Clearly Being Replaced by Digital Gold’- Precious Metal Markets Spike, Strategist Mike McGlone Calls PM Action ‘Meh’

Venture Capitalist Proposes a Single Decentralized Crypto as a Solution to Boost Africa’s Inter-Regional Trade

Bitcoin Cash Slated for May 15- Upgrade to Bring Improvements for Users and Merchants

How Did Satoshi Nakamoto Remain Anonymous? A Detailed Look at the Bitcoin Creator’s Opsec

Reserve Proposes Customers to Use Their Business Zelle Accounts to Process Payments