Renewable cryptocurrencies aim to encourage solar prosumers to follow a certain behaviour, by rewarding them. The concept originates from the bitcoin blockchain where miners are rewarded to validate transactions.
MIT start-up SolarCoin pays people with an alternative digital currency for generating solar energy, one coin for 1 megawatt-hour of solar electricity. So far, it is active in 32 countries. SolarCoin is incentivizing 97,500 TWhs of global solar energy production over the next 40 years.
M-PAYG makes transactions using crypto-currencies and executes the payments contracts on blockchain. The M-PAYG concept has two sides and both include blockchain: 1 Mobile money or Blockchain technology to pay into the cloud and 2 real time monitoring of the solar panel (including shut off/on).
This will allow for more value added services: data calls, e-health, e-farming, insurance, e-banking, payments, education, content.
They actively work in Tanzania, with plans to move into Uganda and Malawi within 2017.
Blockchain payments and trade platform Coinify allows cross-border payments. Blockchain payments incur minimal transaction fees, which is paramount for developing countries suffering from high transaction costs making trade economically unattractive. Blockchain technology allows low cost payments between off-the-grid solar companies and people lacking access to energy sources.
KWHCoin is a blockchain-based community, ecosystem and cryptocurrency backed by units of clean, renewable energy. KWHCoin is specifically looking at empowering people at the edges of the grid for an independent renewable energy future. The mission statement is to provide a solution to the 1.2 billion people in the world without access to electricity.
ImpactPPA aims to disrupt renewable energy to finance and accelerate global clean energy production by decentralizing and tokenizing energy generation through power purchase agreements (PPAs).