Sun Exchange, a peer-to-peer solar equipment leasing firm has raised $1.6 million (R22 million) in seed financing from several strategic partners to accelerate global access to solar power.
With Sun Exchange anyone can buy remotely located solar cells and earn rental income from them. Assets are recorded on the blockchain, and income is paid in crypto-currency – streaming monetized sunshine around the world.
Sun Exchange members can have their solar cells installed and rented to hospitals, factories, schools and rural communities in Africa and the Middle East, earning them decades of rental income from solar powering the developing world.
Partners include Network Society Ventures (New York City), Kalon Venture Partners (Johannesburg, South Africa) and three technology accelerators, BoostVC (San Francisco Bay Area), Techstars (Boulder, Colorado) and Powerhouse (Oakland, California).
The funding, Sun Exchange said, will boost the firm’s capacity to meet the demand for its pipeline of commercial-scale solar power projects.
Sun Exchange said it is the first company in its field to leverage blockchain technology to allow individuals to purchase solar cells in solar projects which are mostly situated in emerging markets that are solar-rich but power-poor.

Read: You may soon need to register and pay Nersa for your personal generators and solar panels
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Using its blockchain-based platform, Sun Exchange said it democratizes the green economy by giving retail customers around the world the chance to lease solar cells bought on their platform to medium to large solar installations in emerging markets.
Solar panels are sold by the single solar cell, reducing the cost of solar plant ownership to below $10 (R13.67).
“By breaking down solar panel ownership to a single cell we reduce the cost of going solar by two orders of magnitude and we’re utilizing empty roof space in some of the sunniest cities on the planet, such as Dubai and Johannesburg,” said Abraham Cambridge, CEO of Sun Exchange.
“To super-charge the process we’ve combined our solar leases with another breakthrough technology – blockchain, namely Bitcoin. Putting the two together empowers anyone to go solar and be part of the global solar energy transformation with just a few taps on a screen.”

In July, the U.S. Trade and Development Agency announced a call for initial proposals from project sponsors in sub-Saharan Africa or U.S. companies working with African project sponsors. Given the volume of demand, USTDA is extending the deadline for submissions to Friday, October 20, 2017 at 5:00pm EST. USTDA will begin evaluations of initial proposals already received and will be in touch with those who submitted them.

Interested entities that have not already submitted an initial proposal on energy-related projects are invited to do so (not to exceed five pages). The proposal should include a brief description of the project's size and status, including project location, economic fundamentals, equipment and technology requirements, legal and regulatory considerations, and the purpose and amount of USTDA funding requested.

The proposal should also outline the sponsor's experience, potential options for financing the project, risks that the project faces, and estimated potential for U.S. content in the project's implementation. USTDA projects are assessed for viability, including proven technologies, as well as their social and environmental impact. USTDA funding is available to private and public beneficiaries on a 100 percent grant basis. Interested entities are welcome to use USTDA's General Funding Request Guidelines. 

USTDA is an implementing agency of both the Power Africa and U.S.-Africa Clean Energy Finance programs, which seek to increase access to electrical power and support private sector investments in African clean energy infrastructure.USTDA's investments under these programs provide critical early-stage support to advance new power generation, transmission and distribution infrastructure.

To get further information and to submit your proposal, please email PowerAfrica@ustda.gov.

Established in 2008, SAAEA has become the largest and most influential renewable energy association on the African Continent, and South Africa is now a formidable force in the worldwide renewable energy industry.  
 
The Southern African Alternative Energy Association has therefore taken the decision to become a global organisation; which will exponentially increase the field of information sharing among the renewable energy community and will provide opportunities to make connections internationally.
   
The Global Renewable Energy Alliance (G-REAL) is being incorporated into SAAEA.
 

​This development will afford our current members worldwide access and exposure, and we encourage new members from all over the world to join our global community.
 
Alwyn Smith, chairman of SAAEA says: "Our existing members will have full access to the G-Real platform with full membership benefits; both logos are available for promotional purposes.  We hope that this will create lots of new opportunities for the renewable energy community as a whole".

HH Sheikh Mohammed Bin Rashid Al Maktoum has launched the worlds largest concentrated solar power plant; an AED 14 billion project with a capacity of 700MW. This is just one element of the Dubai Clean Energy Strategy, which aims to achieve the world's smallest carbon footprint for Dubai by 2050. Read more 

With the support of The Ministry of Energy, key decision makers from ACWA power, ABB and DEWA have already registered their attendance at The Big 5 Solar.

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GOSHEN — A handful of environmentally conscious Goshen residents have rallied together to form Solarize Goshen, a community-led initiative urging homeowners interested in solar power to act quickly to take advantage of limited-time savings opportunities. The group, which has hosted several informational sessions this year, will offer one last educational webinar Wednesday at 6:30 p.m.

“If you’ve been on the fence about buying solar panels, now is the time to act,” said Lucas Godshalk, a member of Solarize Goshen.

Northern Indiana residents can receive a discount by utilizing Solarize Goshen’s “group purchasing initiative,” explained Leah Thill, environmental planner for the Michiana Area Council of Governments.

Thill added homeowners can also receive 30 years of future energy credit through net metering if their systems are installed and connected by Dec. 31. Because the installation process takes time, she warned, homeowners who want the 30 years of net metering should sign their contract with a pre-selected installer by Sept. 30.

SOLAR SYSTEM COSTS

Thill estimated that the average Indiana resident would require a solar system that costs $14,00 to $21,000; but a 30 percent federal tax credit would help to assuage the expenditure.

Though the steep up-front price might have some homeowners cringing, Thill pointed out that just five years ago, the cost could have been close to $42,000.

“I think the most interesting thing to emphasize is how dramatically the cost has fallen in recent years … (but) they’re expected to plateau close to this level,” she added.

However, Solarize Goshen’s push to go solar before 2018 is not only about saving money on the panels themselves, but also about future savings through net metering.

FUTURE SAVINGS

“When a solar system produces electricity that is not immediately consumed in the home, that excess is sent back out onto the grid. It turns the meter backwards and the homeowner gets credit in kWh on (their) bill,” explained Thill. “You never get a paycheck, but you get credit.”

The electricity credit works to homeowners’ advantage during the darker, colder winter months. In a way, explained Thill, July’s sunshine pays for November’s lighting and heat.

She added that net metering won't go away completely after Dec. 31. Homeowners who go solar between Jan. 1, 2018, and June 30, 2022, will still be able to receive kWh credit at the retail rate, but only until July 1, 2032, instead of for 30 years.

A word of warning from Thill: “The net metering status stays with the property, not the homeowner.” However, she said, the solar system still adds significant value to the home.

LOCAL EXPERIENCE

Larry Rupp, of Goshen, has had a 3.5 kW solar system on his roof since May 2014. The experience has been completely positive so far, he said.

The solar panels have covered his entire household’s electric usage since the beginning, leaving him with only a $14 monthly bill from NIPSCO for staying connected to their system.

“(We generate) about a quarter to one-third more per year than what we’re actually using,” he said. “Whatever extra we generate per month just shows up on our bill as a credit. What I haven’t figured out yet is how I’m going to use that extra credit.” He said he is considering buying an electric car, since he could charge it for free at home.

Rupp added that having solar panels has made him more “use-conscious” in general, and that he has added insulation to his home, and switched all incandescent and fluorescent light bulbs to LED. He has enjoyed tracking his energy usage with the computer program available for monitoring the solar panels.

Rupp said he has not been involved with Solarize Goshen meetings, but he is in favor of the initiative.

INTERESTED?

Thill commented that even those who plan to build a home in the future can participate by learning about prices and savings opportunities.

“I would urge everyone to consider at least making a small investment in a solar installation,” Godshalk said. “It is our children and grandchildren who will pay the price if we choose not to act.”

To attend the final Solarize Goshen webinar, RSVP at solarizeni.org/goshen.

Leandra Beabout can be reached leandra.beabout@goshennews.com or 574-533-2151, ext. 314.

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