Solar Energy Converted Into Bitcoin Expanding in Southern Africa
If you ask any South African what one of the top 5 issues with the country is, then it would probably be the lack of access to energy. We have aging infrastructure that is costing the country billions each month in losses because there simply isn't enough energy for the demand.
It seriously holds the country back but this is what happens when you centralize a service around the government, without proper price signals you remain reactive instead of being proactive, and eventually, that comes to bite you in the arse.
Now South Africa is not a place with a lack of energy independence potential, we have coal deposits, uranium, and thorium deposits if we want to go coal or nuclear.
We have options in hydro, with the orange river, we have a large coastline for wind energy and we have a lot of sunlight year-round if you're keen on going solar. This puts the country and neighboring countries in a position to have a robust energy mix, but sadly politics will always hinder progress.
Do it for yourself
Waiting on these central powers is not a feasible strategy and while some try to reduce their dependence on solar, it's still an expensive operation for the individual. Businesses are able to do it in some regard and one of them is the crowdfunding platform the sun exchange.
It allows retail investors to fund solar projects locally for projects, which are mainly in schools, farms, supermarkets, and retirement homes, many of them in South Africa. The electricity generated from the solar operation helps decentralise energy production and instead of paying the national provider you pay the investors who fronted the cost to set it up.
I've been a user of the sun exchange for some time now, I felt it was a project worth supporting and I do enjoy earning a few more sats, even if it's not the most profitable way to earn them.
The company has funded over 30 projects locally and now plans to expand into neighboring countries that pretty much offer the same conditions as South Africa, so it makes sense. Zimbabwe is their first cross-border target since it has a larger population compared to the other 2 neighbors Nambia and Botswana.
I think that harnessing the sun to provide a needed service is great, but using that demand for the sun to put buying pressure on bitcoin is absolute genius. For every project they set up you now have a business that pays for electricity and the funds are converted into bitcoin and paid to investors. So you're creating new demand with every project you set up.
These are obviously KYC sats, but sats nonetheless.
Energy mixes are going to be the future
I like what these guys are doing contributing to the energy mix, we cannot see it as a saving grace. Solar in its current format is not able to scale to any meaningful amount. It can offset demand on other sources, but it is far from reliable.
We will still need to have operations like hydro, coal, and nuclear, but who is to say these large-scale operations cannot leverage bitcoin to ensure profitability over time.
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