SunContract is a project that connects three areas with enormous potential electricity, blockchain and people. Growth and development in each of these fields is important for the quality of our lives. But joined together into a new, disruptive model of energy trading, they have the power to make our planet a better place to live in. Supporting SunContract means supporting sustainability because it brings together energy producers and consumers with common interests: to save money and to create a decentralized, smart and clean future.
Electricity is one of the cornerstones for a modern society to function. Households, hospitals, air traffic systems, road infrastructures, communication and financial service industries are all dependent on electricity.
The renewable energy market is developing fast, due to increasing energy demands and greater awareness of climate changes. This consequently opens new and interesting opportunities. Research by Bloomberg New Energy Finance by 2040 more than 60% of total investment into the energy sector will go into renewable, which means that the total global investment will be $11.4 trillion of which $7.8 trillion will go into renewable energies and only $3.2 trillion into fossil fuel energy. This is a significant increase of investments into the renewable energy sector, especially into wind and solar power energy; the latter two, according to Bloomberg, amount to more than 65% of total investment into renewable. In its current state, the energy market is facing challenges in the form of centralized conventional power stations that often require high costs of energy transmission over long distances. The existing electricity model with its infrastructure will not be able to cope with the increasing electricity demand that is expected to more than double by 2050. A change of the model is necessary with a shift to decentralized energy production supported by renewable energy. There has already been some movement towards renewable and sustainable distributed energy systems in recent years. Let’s look at an example from the USA and the research done by Rocky Mountain Institute. Projections that in 2015 roughly 15% of the total power generated in the USA was from wind and solar power. By 2050, it is expected to be around 71% and if you add other renewable energy sources like hydro, geothermal power and biomass it could go as high as 80%.
Renewable energy obtained mostly from hydro, wind and solar power will definitely help pave the way to a cleaner, more sustainable energy future. the price and efficiency of solar panels. It is clear that over the past few years the cost of solar energy systems has dropped significantly, giving easier access to affordable, clean energy. With renewable
resources, energy production became more decentralized, local and moved closer to consumption points. A distributed energy system generates power on-site, at the point of consumption and therefore significantly
decreases the cost, complexity, inter-dependencies and inefficiencies associated with transmission and distribution.
Blockchain technology offers great potential too. It fits perfectly into the renewable energy sector because it enables direct (peer-to-peer) services closer to consumers and producers and offers transparency and local energy self-sustainability. We offer you the opportunity to be a part of @Sun_Contract. With this project we could build the largest electrical power pool that will enable energy self-sufficient entities and financial benefits by combining the best features of two seemingly very different, areas.
Using the advantages of #blockchain technology to disrupt services in the energy sector is an innovative and thrilling prospect.
