SolarCoin Rewards Solar Energy Users, Could Allow Users to Trade Unused Electricity

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SolarCoin, an altcoin, rewards people for using solar energy. Created in January of 2014, the goal is to provide an incentive to increase solar electricity use globally over the next 40 years by rewarding the generators of solar electricity, according to the SolarCoin Foundation’s website.

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SolarCoin works like air-miles for Solar electricity generation. It is claimed by people living in homes with solar energy panels or commercial solar electricity producers. One megawatt hour of energy can be redeemed for one SolarCoin.

The foundation maintains a public ledger of SolarCoins provided to solar electricity generators. The transactions are publicly visible on the SolarCoin blockchain.

Supply: 40 Years

SolarCoin’s supply is designed to last 40 years delivering incentives for generating 97,500 terawatt hours of solar electricity. The network grows as more people claim SolarCoin.

 

The foundation verifies a SolarCoin claim based on a meter reading, records its issuance in the public ledger and sends the coins to the claimant.

All transferred SolarCoins

Read more ... source: CryptoCoinsNews

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