October 25, 2018
SolarCoin is a free solar energy incentive program given to homeowners and other producers of solar energy.
Solarcoin can be used like Bitcoin: saved, spent, or traded on exchanges around the world for Bitcoin, US dollars, yen, pounds sterling, and other currencies. Over the past two years SolarCoin has traded in a wide range, with each token worth from $0.05 to $2.20 USD.
Homeowners get SolarCoin for energy produced since January 2010. A rooftop with 5 KW installed could receive Solarcoin for free. §52.00 SLR has been worth between $2.60-$114.40 USD over the last 2 years.
The SolarCoin foundation believes the SolarCoin economy can help accelerate the transition to renewable energy by acting as an incentive. The $100 billion Bitcoin economy was created solely by issuing Bitcoin into circulation as a reward for proof of computational work known as mining. Solarcoin creates a solar economy by rewarding the of proof of solar energy production. SolarCoin is an ultra-low carbon blockchain estimated to be 10,000 times more efficient than Bitcoin at similar scale.
SolarCoin now supports many of the world’s largest monitoring platforms including:
Huawei / NetEco
Origin Energy Australia
These systems monitor over 4 million solar installations; estimated at 20% of the world’s 20 million estimated solar plants. The platforms monitor an estimated 50 GW of nameplate capacity representing 10% of installed global solar power. The data import service creates a one time 7 data point snapshot of a homeowner’s solar system. The home owner may then receive SolarCoin for energy production going back to January 2010. The user is also eligible to receive free SolarCoin grants every 6 months for the remaining 20–30 year life of their system.
The SolarCoin Foundation is a for profit US entity. Over the last 4 years it has granted 11 million SolarCoin representing 11 terawatt-hours (TWh) of solar energy production, equivalent to the energy used by 11m American homes in 1 month. SolarCoin have been claimed in 68 countries by groups ranging from homeowners to global multi-billion dollar energy giants.
Since 2014, the SolarCoin Foundation has granted a collective 11.3 million SolarCoins globally, enough to power 11 million Australian homes for a month.European nations such as Italy, Germany & France currently have the greatest rate of SolarCoin adoption. Which directly correlates to the rate of installation and demand for solar in these countries. Australians are yet to take full advantage of SolarCoin despite the current market demand for both domestic and commercial solar installations.