SMAP Energy joins the SolarCoin Network as an affiliate to provide enhanced digital services to its utility clients and incentivise global solar energy installation.
SolarCoin: A digital asset as a reward for producing solar power
SolarCoin is described as the equivalent to airline miles for solar energy generation and acts as means to incentivizing for additional solar power at a global scale,
SolarCoin is a valuable digital token based on blockchain technology created to incentivise solar producers. Any solar installation owner can register to the SolarCoin network and receive a SolarCoin for each verified MWh (1000 kWh) of solar electricity that they produce for free. The owner of a typical residential solar PV system in Northern Europe (4kWp) could be entitled to receive around 4 SolarCoins per year.
SolarCoin was created to serve as an additional reward and incentive for contributors to the energy transition. Solarcoins can be sold via an exchange or third-party who accepts them as a form of payment. It is expected to develop through a network effect as the more people claim the tokens the more valuable they will become, as has been the case with the more well known digital currencies Bitcoin and Ethereum. SolarCoins are granted at the rate of §1SLR for each MWh of validated solar energy produced and provide for a shorter payback period and higher return on investment for the solar installation. 44M Solarcoins are currently in circulation.
Digital Decarbonisation: SMAP Energy’s contribution to incentivising solar uptake
SMAP Energy provides Smart Meter Analytics Platform – a B2B SaaS service to help utilities transform their reserves of smart meter data into business value. SMAP Energy has registered as an affiliate in order to enhance its portfolio of digital solutions offers for its utility clients.
“Digitalisation and decarbonisation are two of the biggest goals in the energy sector today. Solarcoin is addressing both of these goals with their innovative digital asset. It’s incredibly simple – register your facility, collect Solarcoins, exchange the Solarcoins for other goods or benefits. It’s an added bonus to any owner of a solar generation asset,” said SMAP Energy co-founder Paul Monroe.
SMAP Energy plans to trial a fully managed digital rewards service where it can help its utility clients capture the benefits of the offers like Solarcoin with virtually no effort. “We find ourselves in a unique position – we have utility clients who have used Smart Meter Analytics Platform to accelerate their digital transformation and who trust us to show them what the future holds. They have vast portfolios of existing and planned solar generation sites and are looking for ways to improve ROI with minimal risk. Though it is still only a few years into its 40-year vision, Solarcoin has a massive upside and streamlining this process would allow for a hassle-free path to additional revenue that can be channelled into future installations,” said Monroe.
With SMAP Energy conducting due diligence as a trusted partner, the proposed service would help utilities claim Solarcoin and manage their newly earned digital assets. SMAP Energy initially plans to trial the service across a select group of MW-scale generation facilities owned by its utility clients.
“We are excited to working together with SMAP Energy on leading blockchain solutions with the SolarCoin Digital Asset and look forward to burgeoning collaboration at multiple level for both the Japanese solar industry as well as utilities active in the region. SMAP Energy enters the Digital Assets space at a very exciting moment,” Francois Sonnet, co-founder of Solarcoin affiliate ElectricChain and advisor to the Solarcoin Foundation.
About SMAP Energy
SMAP Energy is a digital solutions provider to the energy utilities globally. Their flagship product, Smart Meter Analytics Platform (SMAP), is a subscription SaaS platform for energy companies who have smart-meter data access and want to start understanding and monetising the insights within.
SMAP Energy originated from research at the University of Cambridge. In collaboration with their academic and industrial partners, they’ve developed novel machine learning and AI techniques and products that take advantage of growing energy consumption data. Using energy data collected via smart meters, they seek to analyse user behaviour to derive insights that can make the energy sector more efficient and provide products and services to unlock these gains.
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 project is worth more than $3 billion.
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: solarcoin.org, solcrypto.com, electricchain.org, and electraseed.com
The Mission of the SolarCoin Foundation is to help deliver more Solar Energy globally and initiate the Energy Transition.