Energy startups are popping up around the globe and some of the brightest are looking to leverage the blockchain to create clean energy marketplaces. We dive into two energy leaders in WePower and Power Ledger to see what separates them from the pack.
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Get Paid to Sell Your Clean Energy
Global energy solutions continue to rank high on the list of problems that need critical action in the twenty-first century.
When it comes to such solutions, blockchain-based platforms are envisioning incentives to participate in tokenized energy sales or loyalty tokens for being involved in energy economies. One of the brightest proposed solutions is a real-time energy marketplace.
Imagine a situation where you could harness clean energy through solar panels and then are able to sell any excess energy you don’t need at any time. Think of the flexibility that would give you in regards to additional revenue sources.
Regardless, the demand for rooftop photovoltaic panels to feed these energy platforms has continued to grow. Some even estimate that in the next six years the solar panel industry will grow up to 11 percent. As a result of this growing need, the markets for creating access to capital for developing green energy are exploding.
Essentially, these platforms look to harness the blockchain to tokenize and simplify the global energy trading economy. All through a decentralized application that looks and feels exactly like your current smartphone.
WePower, a popular ICO focused on the massive demand for green energy in Europe, wants to be the world leader in green energy trading platforms. By enabling renewable energy producers to raise capital by issuing their own token called WPR Tokens, they are creating a place where tokens that represent energy can be moved across the world at any time.
Another attractive wrinkle to their platform is that it even lets clean energy project developers such as solar or wind plant builders raise funds by selling their future energy production upfront in the form of these tokens. Needing financing to build your solar farm? Just tokenize your future energy and boom you have funding.
In the mainland of Australia and New Zealand is another attractive energy startup on the blockchain called Power Ledger. With pilots roiling out for its blockchain platforms, users will work to incentivize not only consumers of energy but producers who power local energy farms. With many governments playing a wait and see approach to blockchain-based solutions you can see why local energy unions and organizers are beginning to rally behind leading energy solutions.
By cutting out the middleman and creating energy markets, you are now giving creating additional revenue opportunities for local producers as well as promoting efficiencies for consumers who can be free to pay for only what they actually need. At its core costs will be lower and there will be higher liquidity for solar and wind energy. A win for the earth and a win for your pocket.
Do you believe blockchain-based clean energy marketplaces are the next big thing? Let us know!
Images via Stanford.edu, ucusa.org