One Megawatt Hour
One SolarCoin

Incentivizing a solar powered planet

SolarCoin Vision

The global clean energy transformation is happening, but needs acceleration. Energy generation technology is no longer the issue. In the Middle East – today – it is two times cheaper to produce a unit of power with solar energy than with fossil fuel sources.

The SolarCoin vision is to incentivize a solar-powered planet. As rewards drive action, SolarCoin is on a mission to build the foundation for a global energy transition by rewarding solar producers with the first energy-referenced currency.

The goal is to provide an incentive to produce more solar electricity globally by rewarding the generators of solar electricity. SolarCoin is intended to reduce the cost of electricity production, thereby reducing the payback time of a solar installation.

Introducing SolarCoin

SolarCoin is a reward for solar energy producers. The SolarCoin Foundation rewards solar energy producers with blockchain-based digital tokens at the rate of one SolarCoin (SLR) per Megawatt-Hour (MWh) of solar energy produced.

SolarCoin is free, acting as an additional reward for solar energy producers and additional to other incentives such as government subsidies or carbon credits. Whoever produces solar power – helping to avoid CO2 emissions – may receive SolarCoin.

SolarCoin is a digital asset that uses blockchain technology to encourage solar energy production across the globe, driving the transition from a fossil-fuel economy to a solar-backed economy.

Think of SolarCoin like air-miles for solar electricity generation – only better, because one is not tied to one company to use SolarCoin. Using SolarCoin as the the first energy-referenced currency can reduce solar financing cost within the solar industry and beyond.

SolarCoin is global, decentralized, and independent of any government. The distribution part of the program is designed to last 40 years. SolarCoin is spendable and tradeable like a cryptocurrency, but focuses on incentivizing real-world economic and environmental activity: verifiably produced solar energy.

Get involved now and claim your SolarCoins!

How It Works

Earning SolarCoins

Solar energy producers of any size can file a claim with a SolarCoin Affiliate to register their solar installation and receive SolarCoins. Claimants download a SolarCoin wallet and generate a receiving address, then provide this address and some data and documentation about their solar facility to the Affiliate. The SolarCoin Foundation then issues SolarCoins directly into the Claimant’s wallet at a rate of 1 SolarCoin per 1 MWh of electricity produced. Claimants can save, exchange,or spend their SolarCoins as they wish, and may receive ongoing grants.

97.5 billion non-circulation SolarCoins have been created to be granted to energy producers until 2054.

Spending SolarCoins

SolarCoins can be collected in a digital wallet and used as currency, or stored long-term in an offline (paper) wallet. They can be traded for government currencies on global cryptocurrency exchanges, or spent at a growing number of businesses that accept them. Find more answers in our policy paper as well as the FAQs.

Claim Your SolarCoins

SolarCoin are currently being awarded on the basis of actual production data. A few data points a year are required from a monitoring system or platform to verify the energy production.  Many of the world’s largest platforms are in the process of verifying SolarCoin. If your monitoring platform doesn’t verify SolarCoin, reach out to an affiliate and they will work to enroll your platform.

Two grant calculation methodologies are used: actual, based on the kWh generated, and estimated, based on a percentage of the installation’s nameplate capacity.

Most producers and platforms use the actual granting method, where every MWh generated receives one SolarCoin, e.g. 1100 kWh = 1.1 MWh = 1.1SLR.

In some cases the actual production data is difficult to retrieve, so estimated grants are delivered. SolarCoins are granted at the rate of 15% of the installed rated DC nameplate capacity per year using an industry standard algorithm.  To estimate a grant, the nameplate capacity of the installation (in KW) is multiplied by 1.31, e.g. 5KW x 1.31= 6.55MWh = §6.55 SLR.

The initial SolarCoin grant is retroactive to the interconnection date of the facility or Jan 1, 2010 – whichever is more recent. Registration approval confirmation & SLR granting currently typically occurs the first week of each month. This can occur as quickly as 2-3 days if your platform is a SolarCoin partner. After the initial grant, follow on grants are delivered every 6 months following the initial grant for the life of the energy generation project.

SolarCoins can be claimed via automatic data import, by submitting paper documentation using our web interface, or via any registered SolarCoin Affiliates. The SolarCoin Foundation requires large-scale facilities (over 500 kW) to submit their claims via an Affiliate.

SolarCoin Wallets

Mobile and Other Lightweight Wallets (unofficial)

Desktop Wallets (requires disk space, yields 2% return on staking)

SolarCoin News

08.21.2018

SolarCoin: Accelerating the Energy Transition

08.21.2018

During this year’s highly successful Intersolar Europe, SolarCoin founder and self-confessed “recreational central banker” Nick Gogerty found time to sit down with Impact4All to discuss how “the first digital currency that rewards solar electricity generators” is helping accelerate the unstoppable transition to renewables. During the interview, Nick covers a wide range of topics detailing the philosophy behind the coin and its potential for impact in the energy transition.

The SolarCoin Ecosystem Participants

The SolarCoin Foundation

SolarCoin was created in 2014 as an open community project run by volunteers and the founders of the SolarCoin Foundation, a Delaware (U.S.A) registered Public Benefit Corporation. CoFounders of the SolarCoin Foundation are Nick Gogerty and Joseph Zitoli.

SolarCoin claimants

SolarCoin claimants are companies or individuals who apply for and claim their SolarCoin for free. They are able to receive them for verified energy production going back to January 2010. They can spend, save or donate their SolarCoin any way they wish.

Affiliates

The SolarCoin Foundation works closely with affiliates who help to verify SolarCoin claims information. Affiliates are usually organized as for-profit companies who receive SolarCoins from the SolarCoin Foundation for each claim they verify and facilitate for claimants. Affiliates may also offer separate services to their customers. Claiming SolarCoin is always free of charge, but affiliates may offer additional services.


Our Community

At SolarCoin we want to be a force for accelerating the global change to renewable energy. We’re creating a community with a shared vision and passion for this 40 year mission, built on people bringing different skills,and perspectives.

(Note the Community resources listed below and those not listed are 3rd party independent services. The SolarCoin Foundation does not endorse and is not responsible for the content messages, participants or advice offered on these platforms.)

Technology Roadmap

  • Technology

  • Governance

  • Marketing

SolarCoin is working hard to build the ecosystem. With active help from the community and the Foundation resources we are developing the overall network, wallets, and SolarCoin use cases. Have a look at the current technology roadmap.

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