18 Apr

SunContract is an international energy marketplace that links producers of renewable energy and consumers of power. SunContract is leading the way in introducing this novel idea with its NFT marketplace, which is connected to actual solar panels.

It facilitates easy access to solar panels by utilizing blockchain technology and smart contracts, which helps to move the renewable energy environment toward one that is more liquid and democratized. Additionally, this lessens the undue influence that major power producers have over people and communities.

Renewable Energy Will Drive Energy Production in the Future

By 2050, the renewable energy industry is expected to draw in over $10 trillion in investment, with wind and solar power being the main drivers. As a result, almost 85% of the electricity produced worldwide will originate from renewable resources. It is clear from the data that renewable energy sources will dominate the production of energy in the future.

Blockchain's Significance for SunContract

SunContract is a peer-to-peer (P2P) network that uses blockchain technology to transform the way electricity is bought and traded. By facilitating direct transactions between energy providers and consumers, this platform lowers costs, boosts security, and offers worldwide access.

NFT Marketplace on SunContract and NFT Advantages

A novel addition to the SunContract ecosystem is the non-fungible token (NFT), which enables users to generate daily revenue by tokenizing actual solar panels. As a result, SunContract is the first company to combine solar energy, blockchain technology, and NFTs in order to promote a sustainable future in which renewable energy is made more accessible, decentralized, and digitalized.

Every NFT produces solar energy on a daily basis and is correlated with a particular solar panel. During the first phase, the energy generated by the solar panels connected to the NFTs is sold, and the money received is instantly put into the users' wallets after any applicable fees are subtracted.

SunContract intends to offer users the opportunity to use the electricity produced by their NFT-linked solar panels in their homes directly during the second phase of the program. Initially, this option will be accessible in nations like Slovenia, Croatia, and Estonia where SunContract is licensed to provide electricity.

With this important advancement, consumers may now profit financially from their renewable energy investment and power their houses with clean energy without having to physically contact with or maintain the solar panels. This implies that consumers won't need to worry about maintaining solar panels on a regular basis or having them repaired in the event of an accident.

Sustainable Energy for All

SunContract provides everyone with access to renewable energy by harnessing the power of NFTs. For most people, especially those who don't have enough room for solar panels or live in apartments, the idea of having a piece of the renewable energy puzzle seemed far off until recently.

SunContract NFTs eliminate the need for space requirements, physical installation, and maintenance worries that come with owning solar panels in the conventional sense. With the help of this innovation, placing solar panels on a property—a usually illiquid investment—becomes a liquid asset that can be bought and sold at any moment on the SunContract NFT marketplace.

2112 Actual Solar Panels as NFTs to begin with

At the beginning, SunContract issued 2112 NFTs, each of which was supported by 2112 actual solar panels from a solar facility situated in the western Slovenian village of Višnje, close to Ajdovščina. This 517 kW solar power plant was constructed in Slovenia by SONCE Energija, a division of SunContract Group. SunContract intends to expand its solar farm network and will be adding new farms shortly.

SNC Tokens' Function

SNC tokens are utilized to share the revenue earned by an NFT directly in a user's wallet because they are the utility tokens of the SunContract platform. Wherever SNC tokens are traded, customers have the option of holding SNC tokens or exchanging them for fiat money.

A Step Forward

SunContract facilitates communication between electric power suppliers and customers. By giving consumers more authority and control over how much electricity they use, it helps to address the problem of centralization in our electric supply network.

April 2024, Cryptoniteuae

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