Sun Exchange Launches Global Solar Cell Leasing Platform

South African renewable energy startup Sun Exchange has introduced a peer-to-peer solar leasing platform that enables users both individuals and organizations to generate and sell clean energy online. It aims to help users gain the environmental, social, and economic benefits of solar power accessible and affordable, leveraging financial innovation and the power of the crowd. Nature of Disruption: Sun Exchange identifies businesses, schools, and organizations planning to adopt solar technology, the startup’s solar engineers then work with local solar construction partners to evaluate proposed solar projects and the criteria. It runs a crowd sale for the solar cells to power the project, once the solar project gets accepted. The users can sign up on the platform to become Sun Exchange members and buy solar cells from anywhere in the world. It begins the installation process by appointing a local construction partner after the solar cell crowd sale sells out. They can get paid by schools, businesses, and organizations by leasing the solution to use clean electricity. It offers a Sun Exchange wallet for receiving net of insurance, monthly solar income, and servicing fees and supports the local currency of the project and Bitcoin (BTC). The Sun Exchange dashboard provides details such as solar project status updates, solar cell earnings, energy generated, amount of carbon the solar cells offset, and Sun Exchange wallet balance, withdrawals, and payments. Outlook: Sun Exchange through its solar leasing platform aims to help anyone, anywhere in the world to buy solar cells and automatically lease them to be installed in high-impact solar projects. It enables solar cell owners to offset their carbon footprint while earning from the clean electricity generated. It also ensures that solar cell owners offset their carbon footprint while earning from the clean electricity generated. Businesses and organizations also get benefits such as zero upfront costs, minimizing energy costs while contributing to climate impact. Sun Exchange has raised $3M in Series A funding round from the Africa Renewable Power Fund of London’s ARCH Emerging Markets Partners. It intends to use the funds to facilitate solar power for small to medium organizations in Sub-Saharan Africa.