This solar provider creates microgrids using the world's first peer-to-peer solar leasing platform. This avoids some of the pitfalls of financing projects in the developing world, where access to funding may be difficult for unconventional or risky developments in emerging markets.
Sun Exchange, founded in 2015, aims to sustainably power socially-useful endeavors, such as hospitals, schools, community organizations, as well as businesses and factories. Sunshine is abundant in South Africa and by using solar instead of fossil fuels, the users can dramatically reduce carbon emissions and air pollution. For many users it is the most affordable source of electricity.
The way it works is that Sun Exchange identifies viable locations for solar panels. It sells panels to people across the world who then lease them to the user, so both funder and the power generator (e.g. a school) gains the benefits of the panel, without the user having to raise the capital to fund it themselves. Sun Exchange takes care of the installation and maintenance.
Case Study – Rob Ferreira High School
Established in 1948, Rob Ferreira High School is located in White River, a popular holiday destination and fertile farming area in South Africa. The school is a major sports and academic hub, serving schoolchildren from across the socio-economic spectrum and the region, including neighboring Mozambique.
The 140.85 kW array on the school's roof is leased from crowdfunders across the world, and allows the school to reduce its electricity bills, so that its budget can go further towards core teaching activities.
Today Sun Exchange has completed over 40 solar project crowdsales. It has funders in180 countries. Over 1 million solar cells have been sold, totaling 5.2 GWh of clean power.
This is an interesting method for avoiding the upfront costs of financing a renewable energy project in-house and offers benefits for both the user and the crowdfunders.