From Sun to NFT: Building Your Own Solar Power Plant with Clean Energy through NFTs
SunContract is a global energy marketplace connecting electricity consumers with renewable energy producers. SunContract’s NFT marketplace, linked to real-world solar panels, is at the forefront of introducing this innovative concept.
By leveraging blockchain technology and smart contracts, it enables seamless access to solar panels, fostering a shift towards a more liquid and democratized renewable energy landscape. This also helps to eliminate the disproportionate influence that large power producers have over communities and individuals.
The Future of Energy Production is Renewable
As per Forbes, the renewable energy sector is likely to attract more than $10 trillion in investment by 2050, with a major emphasis on wind and solar. With this, around 85% of the world’s electricity production will come from renewable sources. Considering the numbers, it is quite obvious that the future of energy production is renewable.
The Importance of Blockchain for SunContract
SunContract leverages blockchain technology first to establish a peer-to-peer (P2P) platform that fundamentally changes how electricity is bought and sold. This platform enables direct transactions between energy consumers and producers, reducing fees, enhancing security, and providing global access.
The P2P model is pivotal for promoting local energy self-sustainability and financial advantages by facilitating energy trades with transparency and control. It also laid the foundation for the later establishment of the NFT marketplace.
SunContract NFT Marketplace and NFT Benefits
Non-fungible tokens (NFTs) introduce a new innovation into the SunContract ecosystem, allowing users to earn daily income through a tokenized representation of real-world solar panels. This makes SunContract the first to merge solar power, blockchain and NFTs that help to support a sustainable future where renewable energy is digitalized, decentralized, and democratized.
Each NFT correlates with a specific solar panel, producing solar energy daily. In the first phase, the energy produced by the solar panels linked to the NFTs is sold, and the revenue generated—after deducting necessary fees – is deposited directly into the users’ wallets.
In the second phase, SunContract plans to introduce an option for users to directly utilize the electricity generated by their NFT-linked solar panels in their homes. This option will initially be available in countries where SunContract holds an electricity license, such as Slovenia, Croatia, and Estonia.
This significant step forward ensures that users can gain financial benefits and also power their homes with clean energy from their investment in renewable energy without the need for physical interaction or management of the solar panels. That means users will not have to worry about the regular maintenance of solar panels, and their repairs in case any accident occurs.
Users only need their smartphones to control their Personal Power Plant, which improves their self-sufficiency in energy, regardless of wherever they are based. This will not only fight the current centralized model of electricity generation but will also help to improve services and increase economic, environmental, and social benefits.
