VIDEO - SolarCoin Plans To Accelerate Renewables Transition

VIDEO - SolarCoin Plans To Accelerate Renewables TransitionImpact

SolarCoin is the world’s largest community-based solar electricity reward programme. Its alternative digital currency can be claimed by individuals with solar-powered homes or commercial solar electricity producers. 

The low carbon blockchain token is exclusively granted for free to solar energy producers at the rate of one SolarCoin for one megawatt hour of solar power generated. Over nine terrawatt-hours of solar energy have been incentivised through SolarCoin in 62 countries.

Nick Gogerty, founder of SolarCoin, told Impact4All in a video interview: “The aim is to be interesting enough to be a marginal incentive for solar producers."

We know we’re winning when solar producers decide to put in a few more extra panels because of this marginal reward… this accelerates the energy transition.

 

Gogerty estimated that there is around 40 years of solar energy projects in production. “We have been circulating them [SolarCoins] for the last four years, every time someone shows up with a new project we issue a new one into circulation. We’ll just keep growing the monetary base,” he said.

The founder said SolarCoin is a for-benefit corporation with a full profit model. “That said, we are giving away 99.5 per cent of the SolarCoins to the producers of solar energy,” Gogerty explained.

Growing currency

ACWA Power, a leading Saudi Arabian developer of power generation and water desalination plants, announced a move to adopt SolarCoin in January this year marking the first time a utility-scale generator has joined the SolarCoin ecosystem.

In June, SMA Solar Technology AG (SMA) partnered with the Hong Kong based startup SolarLux to evaluate the feasibility of onboarding a large number of PV Plant owners into the SolarCoin ecosystem via the world’s largest solar energy monitoring platform, SMA’s Sunny Portal. 

Gogerty said: “This means five per cent of global solar production could get this extra incentive.”

Dr. Matthias Victor, head of technology centre & services at SMA, said: “SolarCoin is one of the most interesting projects in the block chain space, which SMA has followed for quite some time. We are currently assessing what added value a direct access to SolarCoin via the Sunny Portal may bring to our customers.

Original video link : https://impact4all.org/video-solarcoin-plans-to-accelerate-renewables-t…

About SolarCoin

SolarCoin is the world’s largest community-based solar electricity reward program. Its alternative digital currency may be claimed by individuals with solar-powered homes or commercial solar electricity producers. The project promotes the use of clean, environmentally sustainable energy, with the eventual goal of shifting the levelized cost of energy away from fossil fuels. The SolarCoin Foundation and related affiliates are acting in the field of Blockchain Technology and Digital Assets, with the following related internet sites and companies participating: www.solarcoin.org, www.solcrypto.com, www.electricchain.org and www.solarlux.energy . The Mission of the SolarCoin Foundation is to help deliver more Solar Energy globally and initiate the Global Energy Transition.

9 TerraWatthours of solar energy have been incentivized in over 60 countries!

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