Solar power could transform small communities around the world, but remote villages can’t always scrape together the thousands of dollars required to install the requisite cells. The Sun Exchange[1] wants to change that by leveraging the hearts and wallets of hobby investors who cover the installation costs and then have their share of the revenue trickle in for years to come. There’s even a cryptocurrency!
The whole thing, as explained on stage at Disrupt Berlin today, works like this. First, the Sun Exchange and its partners (solar companies in various sun-drenched locations around the world) locate projects where a small installation — think less than a megawatt — could make a big impact, for instance rural clinics or villages with inconsistent power.
The installation is planned and priced out, and this info is put online at a dedicated page. At that point people can purchase shares in the solar cells, from a few bucks’ worth to a major investment.
Once the costs are covered, the array is constructed and put online within 60 days, its power provided to the community for a usage fee like any utility, and investors (and the company) get a part of that fee proportionate to their ownership of the array. And it really is ownership: “You’re now the proud owner of some solar cells soaking up glorious African sunshine,” the FAQ reads, and the Sun Exchange just handles the leasing and fee collection. (And insurance and paperwork, of course.)
Ideally, it’s a win-win situation. The local community gets reliable, cheap power, and you get a steady (if small) source of income essentially coming straight from the sun.
Founder Abraham Cambridge started working on the business years ago, raising a little money on Indiegogo...