Sun Exchange sells solar cells to online buyers around the world and leases them to schools and businesses in South Africa. The buyers then receive monthly payments based on how much electricity is used.
Abraham Cambridge, the startup’s founder, had the idea when he moved to South Africa in 2014 to work as a solar engineering consultant, after six years running a solar installation company in his native UK. He says one reason is that the country doesn’t offer the same kind of subsidies to install solar power that is available in Europe and the U.S. “There’s this huge funding gap for commercial and industrial-scale power plants,” he says.
Sun Exchange hopes to close that solar funding gap and connect people to clean energy.