Blockchain technology will continue to solve real-life problems, this does not exclude the solar energy sector. The new technology tends to affect each and every sectors in the worlds economy today but in a positive manner. In the solar energy space, blockchain aims to enable peer-to-peer trading of energy credits.
Our main topic for today however, revolves around the 3 major companies using blockchain in this sector.
This project started as a rewards program for solar electricity in 2014, the project focuses mainly on individual households who install solar panels on their roofs. It works hand-in-hand with the government so as to offer incentives to individuals who has successfully installed solar panels on their roofs, thereby attracting more people to do so. The main aim of this particular project is to drive down the cost of electricity. The rewards are given out in cryptocurrency with the name SolarCoin.
2. Sun Exchange
Unlike SolarCoin, Sun Exchange is concerned majorly with “solar-powered money”. This project raised a whooping sum of $1.6 million in seed funding last year. Here, investors are of all kinds will be allowed to invest in key energy projects around the world. Solar Cells can as well be purchased here which will then be allocated to any energy project of your choice. Sun Exchange company had a recent partnership with PowerHive company so as to introduce solar energy to rural areas such as Kenya and to other communities who live without electricity.
This one goes beyond the solar energy sector by extending its activities to other forms of renewable energy like wind and tidal. Almost the same as the solar coin company because both believe in rewarding the community with cryptocurrency. This company aims to provide surplus energy to the community by rewarding it’s users with WPR tokens, thereby bringing electricity bill to a cheaper rate.