Cape Town's Groote Schuur High School has partnered with the company Sun Exchange to ultimately power the school at least partially with solar energy.
The aim is to reduce their electricity bill and also their carbon footprint through solar panels funded by the public, who'll receive a return on their investment.
Marketing and PR Manager Paige du Plessis explains that individual solar cells are up for sale.
Anybody can purchase remotely located solar cells and then earn money from the power that is generated from the panels upon our school roof.— Paige du Plessis, Marketing and PR Manager - Groote Schuur High School
There are 14,464 cells available for purchase at a price of R82 each on a 20-year lease.
The school promises an "intended rate of return" of 11.28% a year.
But can this venture guarantee a return of over 11%, asks John?
The guarantee comes from the fact that we live in one of the sunniest places in the world... Solar power is never going to run out.— Paige du Plessis, Marketing and PR Manager - Groote Schuur High School
Everything is run through the Sun Exchange. They go forward with a marketing campaign to assist us in placing of the solar panels and then help run the funds.— Paige du Plessis, Marketing and PR Manager - Groote Schuur High School
She says after going live last week, the school has sold 25% of the cells.
The minute we have 100% sales they will start planning to put the solar panels up on our roof.— Paige du Plessis, Marketing and PR Manager - Groote Schuur High School
Find out more about the project here.
To hear the complete conversation, click on the link below:
This article first appeared on CapeTalk : Invest in solar cells for CT school, with promise of good returns