Lagos, Nigeria, and Greenwich (CT), US – 17 May 2018 – EarthSpace Resources, the multidisciplinary expert in climate change, clean energy, and sustainable development, announced its new partnership with the SolarCoin Foundation.
EarthSpace Resources enters the SolarCoin ecosystem as the main official affiliate to provide solar asset owners, governments and private sector, in Anglophone West-Africa with the support they need to understand, adopt and benefit from the SolarCoin Initiative.
SolarCoin is a digital asset that works like air-miles for solar electricity generation, based on blockchain technology. SolarCoin offers a new incentive for solar power generation on a global scale, independently and additionally to existing government subsidies. Each SolarCoin in circulation represents 1 MWh of solar electricity generation. SolarCoins are claimed by individuals living in homes with solar panels or commercial and utility-scale solar PV producers.
“EarthSpace is proud to announce our partnership with the SolarCoin Foundation as its main affiliate for Anglophone West-Africa, incentivizing the costs of installed solar PV facilities in one of the most vulnerable regions to climate change. We are thrilled about this SolarCoin model, first of its kind in the world from the private sector perspective, in complementarity to the UNFCCC Kyoto Protocol’s burden-sharing approach through certified emissions reductions (CER) of the clean development mechanism (CDM) clean energy processes initiative. Through the support and SolarCoin rewards to solar power producers interested in the SolarCoin Initiative, EarthSpace is pleased with this opportunity geared towards mitigating carbon emissions, enhancing environmental sustainability, plus increasing return-on-investment (ROI) and decreasing payback time for the solar facility owners in Anglophone West-Africa. We are excited to help democratize this blockchain solar economy initiative and process. This is just the beginning of a revolution in sustainable development in Anglophone West-Africa,” said Dr. Ayodele Adekunle Faiyetole, the Founder and Chief Executive of EarthSpace.
As a new SolarCoin Affiliate, EarthSpace will provide onboarding and wallet management services to Solar Power Producers, such as governments, independent power producers (IPPs) or individuals, enabling them to earn SolarCoins and add a new revenue stream to their business at no additional cost. EarthSpace will create and secure digital wallets, help gather the required claim documentation, manage the onboarding process with the SolarCoin Foundation, and ensure that claimants receive their SolarCoin rewards.
SolarCoin: Incentivising solar PV energy production through blockchain innovation.
SolarCoins are granted at the rate of §1SLR for each MWh of validated solar energy produced and provide for a shorter payback period and higher ROI for the solar installation. The SolarCoin Foundation manages the distribution of SolarCoins using verified solar facilities as the “proof of work”. The SolarCoin Foundation also maintains a public ledger detailing each SolarCoin given out to solar electricity generators.
“We are happy to see EarthSpace Resources joining the SolarCoin community. By participating freely in this digital currency, participants help strengthen its ecosystem, and contribute even more to the development of solar electricity, enhancing the attractiveness of Solar Energy for people across the world.” Said Nick Gogerty, Co-founder of the SolarCoin Foundation.
SolarCoin is an open community project run by volunteers interested in creating an incentive to benefit the environment, and working together as the SolarCoin Foundation. In working closely with the solar industry, the SolarCoin Foundation, with SolarCoin, is at the base of a virtuous circle, creating an uptake for solar equipment and helping create jobs in the renewable energy sector.
EarthSpace is focused on the intersection of science, technology, humanities and social sciences, advancing knowledge, bringing about sustainable development in its engaging communities globally. With a bouquet of services that include mainstreaming Solar Energy in Africa, EarthSpace is a leader in fostering clean energy technologies in off- and poor-grid communities, helping to enhance environmental sustainability: https://www.EarthSpace.com.ng and Innovations to Society (ITS).
SolarCoin is the world’s largest community-based solar electricity reward program. Its alternative digital currency may be claimed by individuals with solar-powered homes or commercial solar electricity producers. The project promotes the use of clean, environmentally sustainable energy, with the eventual goal of shifting the levelized cost of energy away from fossil fuels. The SolarCoin Foundation and related affiliates are acting in the field of Blockchain Technology and Digital Assets, with the following related internet sites and companies participating: www.solarcoin.org, www.solcrypto.com, www.electricchain.org and www.solarlux.energy. The Mission of the SolarCoin Foundation is to help deliver more Solar Energy globally and initiate the Energy Transition.