Blockchain Renewable Energy Company Solo Energy Joins SolarCoin System

Announcements, Blockchain, Innovation | October 28, 2018 By:

Blockchain renewable energy company Solo Energy has partnered with the SolarCoin Foundation. The deal means Solo enters the SolarCoin ecosystem as a registered affiliate, meaning that that it will provide solar photovoltaic (PV) owners that become part of its Virtual Power Plant network with the support they need to understand and adopt SolarCoin.

Solo Energy’s mission is to accelerate the adoption of renewable energy to build a 100% renewable future. It is using energy storage, blockchain, and cloud technologies to provide a solution to infrastructure challenges that could delay the adoption of solar PV and wind generation – storing intermittent, variable generation and intelligently increasing local grid capacity.

SolarCoin is a blockchain digital asset that works like air-miles for solar electricity generation. SolarCoin offers a new incentive for solar power generation on a global scale, independently and additionally to existing government subsidies. Each SolarCoin in circulation represents 1 MWh of solar electricity generation and they can be claimed by either individuals living in homes with solar panels or commercial and utility-scale solar PV producers.

“We’re excited about the added benefits that SolarCoin can bring to our future FlexiGrid members,” said Mark Hamilton, CEO at Solo Energy, “We’re already bringing the benefits of participating in Demand Side Response to homes and businesses, but by supporting our users to access SolarCoin, we’re also helping to secure the future of solar generation.”

Solo Energy is currently raising funds to enable the widespread installation and operation of free domestic energy storage batteries and electric vehicle-to-grid (V2G) chargers in people’s homes, in partnership with energy suppliers. Its FlexiGrid cloud platform controls and aggregates energy storage capacity to create a “Virtual Power Plant” that intelligently supplies stored renewable electricity to the grid at times of low renewable generation or when demand is high. The energy storage systems will be distributed across thousands of homes and commercial premises – and energy will soon be traded peer-to-peer (P2P) between members of the Virtual Power Plant using blockchain – reducing the burden on the electricity distribution grid because energy is generated, stored and consumed locally.

As a SolarCoin affiliate, Solo Energy will help VPP members with solar PV to access this exciting initiative by enabling them to earn SolarCoins and improve the return on their PV investment. Members will be provided with a secure digital wallet, the required claim documentation and assisted on-boarding with the SolarCoin Foundation to ensure that claimants receive their SolarCoin rewards.

SolarCoin’s success depends on wide scale adoption. Solo Energy will act as an affiliate to provide widespread domestic and small business adoption, while large Solar IPPs like ACWA Power have also registered their PV assets on the SolarCoin platform,which is participating in the Digital Task Force at SolarPower Europe.