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Author: Admin | 2025-04-28
Each megawatt hour their system generates.Although creation of SolarCoins is tied to actual production of solar energy , anyone can purchase existing SolarCoins. Those who want to monetize their SolarCoin can convert it to bitcoin and from there into the currency of their choice.Unlike many solar incentives, like the Investment Tax Credit or SRECs, One interesting characteristic of SolarCoin is that it doesn’t just benefit the system owner. In the case of leased residential systems, the homeowner is the one eligible to receive SolarCoin rather than the company that owns the system. The SolarCoin Foundation explains that they structured the system this way because they believe it more effectively achieves the project’s goal of driving greater solar investment.Solar installers can also benefit. “For an installer, SolarCoin represents an alternative free revenue for promoting solar power and the use of renewable energies. Installers who refer claimants to the SolarCoin program are entitled to a 10% bounty of the annual claim amount for each facility to be paid out in SolarCoin.”And, as John Cromer of Community.Solar explains , another benefit of SolarCoin is that it provides documentation of the amount of solar energy being produced by small systems, data which is currently poorly tracked. Community.Solar provides solar continuing education courses; they use the SolarCoin blockchain to track course participation, and even offer free SolarCoin registration of solar arrays.4. Blockchain could facilitate solar energy transactions and peer-to-peer energy purchasesBlockchain could also enable peer-to-peer trading of solar energy—simplifying the process of connecting solar energy producers with consumers who want access to sustainable energy.Australian startup Power Ledger is already using a blockchain platform for this purpose. They note that their service allows solar producers to be paid immediately for the energy they produce, in contrast to a typical utility payment cycle of 60 to 80 days.This approach could provide an alternative to net metering. It could also offer a solution to the same challenge that community solar and virtual net metering seek to solve—allowing households and businesses that can’t go solar themselves to partake in energy from off-site solar projects.Another example you may have read about is a company called LO3 Energy that is using blockchain to manage the purchase and sale of energy among participants in a solar-powered community microgrid in Brooklyn.Blockchain can facilitate peer-to-peer energy trading. This could enable solar energy producers to provide energy to consumers in their local community. 5. Blockchain could support investment in solar projectsBlockchain could also be used to make investment in solar projects more accessible, helping to increase solar capacity. Writing in Forbes, Roger Aitken notes that “Sun Exchange, a peer-to-peer solar equipment leasing marketplace based in South Africa, has raised $1.6 million (m) in seed financing…
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