SolarCoin is a crypto asset that has a deeper meaning: you receive SolarCoins when you generate solar power. The goal is to promote the construction of PV systems through this additional income.
What is SolarCoin?
You receive SolarCoins as a bonus when you generate climate-friendly photovoltaic electricity. For every MWh of PV electricity produced, you receive one SolarCoin (abbreviation: SLR).
What´s the mission?
The issuance of SolarCoins is intended to give photovoltaics a further boost. This will help to protect our climate.
Who is behind SolarCoin?
MasterMind behind the initiative launched back in 2014 is Nick Gogerty, author of Nature of Value on sustainable investment. Links to a 1+ hour interview on his background and motivations for SolarCoin as well as a Youtube interview from September 2017 can be found here.
How do the concepts of Bitcoin and SolarCoin differ?
To generate Bitcoins, huge server farms are needed. In 2017, electricity demand was over 35 TWh or 0.15% of global electricity consumption, surpassing Austria in the summer of 2018. Meanwhile, global electricity consumption is likely closer to 0.5%. Bitcoin is on track to become one of the largest electricity consumers in the world, consuming more than ten times the electricity of all electric cars worldwide. At the time when all vehicles worldwide are electric, it would still require ten times the electricity. This is pure waste of electricity and not sustainable. News on the trend for sustainable crypto assets on Leafscore and Independent.
And what about SolarCoin?
Anyone who helps protect the climate with a photovoltaic system receives SolarCoins. This supports the construction of new PV plants, so SolarCoins have an intrinsic benefit. The number of SolarCoins to be issued is limited to the expected PV production for the next 40 years. For every MWh of solar power produced, one SolarCoin is received for free. SolarCoin runs on the resource-efficient Energy Web Chain.
How to get SolarCoins?
You need a wallet to which you can transfer the SolarCoins, more information on Solarcoin.org. Solar power producers with SMA inverters can easily register for SolarCoin via the SunnyPortal and receive them automatically. The higher the SolarCoin price, the more lucrative PV systems become. This can contribute significantly to making PV plants easier to realize.
Where can I find up-to-date information on SolarCoin?