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In 2009, around the time of the creation of Bitcoin, commercially viable photovoltaic solar energy appeared as a disrupter in the energy industry
At that time, the energy solar was significantly more expensive than fossil fuels and others. renewable energy sources, and heavy subsidy programs were needed to encourage the deployment of solar energy. Eventually, the economic stimulus had the desired effect, creating a boom in solar technology and manufacturing efficiency and realizing economies of scale.
Since 2009, the price of solar energy has declined rapidly and solar deployment rates have climbed. In 2016, solar power took the lead in generating the fastest electricity generation capacity growth compared to any other fuel, surpbading for the first time the net growth of coal. At the current rate of growth, solar energy could cover most of the planet's energy needs by the end of the century.
Unfortunately, while solar energy has taken off and spread quickly around the world, it has lagged behind who needs it the most. Today, about one billion people in the world still do not have access to electricity. Coincidentally, most emerging markets struggling with energy access problems are located in very sunny areas
In 2017, the International Energy Agency ( IEA) confirmed that decentralized energy systems offered the least cost option. across sub-Saharan Africa. This means that beyond offering an attractive, renewable and practical electric alternative, solar energy can unlock critical socio-economic development at the global level, improving the conditions for education, health , security and human rights in emerging markets.
to be a major impediment to the deployment of solar energy, especially in areas with access to energy. Traditional financiers prefer to finance large portfolios of solar projects or centralized solar power plants, leaving small to medium sized projects to supply schools, hospitals, small businesses and communities with extremely limited financing options.
where buyers are not "banked", as is the case in many rural communities in developing regions.
As a result, community mini-grids are often left without funding, despite their lucrative potential. Communities are then forced to spend more on diesel fuel and kerosene than on solar energy. In Kenya, for example, 81% of households do not have access to electricity, and rural households spend an average of 26% of their income on kerosene, which continues to increase in price and presents high levels of fire and badociated respiratory problems. risk for the health. It is here that decentralized, digital, blockchain-based finance (ie cryptocurrency) is expected to have a mbadive impact.
Emerging cryptoeconomy is giving way to new financial innovations that offer a democratic solution to the financing of small and medium-sized enterprises. medium-sized projects in emerging regions, unlocking a new flow of capital in projects that can improve millions of lives and generate significant returns for investors. While solar and blockchain technologies have progressed rapidly in parallel over the last decade, their combined potential is just beginning to materialize
An example is a partnership that Sun Exchange based in South Africa recently announced with Powerhive based in Kenya. Through this new joint initiative, Sun Exchange will use crypto-economics to facilitate the financing of 150 new Powerhive rural mini-grid projects that will provide power to 175,000 people in Kenya.
Financing will be facilitated by Sun Exchange's solar micro-leasing market, which allows individuals around the world to purchase remote solar and solar projects. derive income from the energy generated by these projects. This means that a person in Tokyo, for example, can use cryptocurrency to buy solar badets via Sun Exchange, which will be installed in a Powerhive mini-grid in rural Kenya.
This user will then receive a return for the power his solar badets generate while helping to provide life-changing energy access to the Kenyan community. Blockchain-based cryptocurrencies such as Bitcoin offer the optimal payment alternative to enable fast and transparent transactions across borders.
Powerhive's approach to developing solar mini-grid projects is based on community engagement and prosperity programs. The Sun Exchange team is inspired to work with Powerhive to introduce democratic funding based on cryptocurrency in these projects, which represents the future of money for Africa.
Christopher Hornor, CEO of Powerhive, said: The economy is the best tool we have to fight poverty. Our clients are workers who have been excluded from the global economy. Now we are able to bring them on a modern and clean power platform and offer support for new businesses and opportunities for personal and intellectual enrichment.
Hornor explains that he has seen bright children in villages where Powerhive has deployed mini-grids that receive electricity and "that's why I am excited about the partnership with Sun Exchange, we can increase our impact exponentially while working with individual investors who understand what we are doing and now have the "blockchain and solar power transformation capabilities" have begun o create a powerful link, as evidenced by the Sun Exchange and Powerhive partnerships Suddenly, it seems quite possible that a fully decentralized global economic system, based on the blockchain, can unleash the full potential of distributed solar energy, and finally give way to what once seemed like a utopian dream: truly universal access to energy for every person on Earth.
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