The cryptocurrency market has hit the industry with disruptive force. Just as we continue to hear about the improvements and developments within this market, renewable energy has also come to the limelight. An innovative incentive for a solar energy program is integrating the blockchain market and electricity production with the primary aim of supporting and boosting one another.
Informational Video on the SolarCoin Phenomenon
The SolarCoin was developed in the year 2014, and since then, it has aided an improvement in growth and development. The SolarCoins are availed to Solar energy companies who provide at least 1MWhr generated electricity. This means that the SolarCoin has come to the market and succeeded all criteria and goals that BitCoin was unable to complete. This currency increases to motivate solar providers to generate more renewable energy in different parts of the world.
SolarCoin is a crucial aspect of our environment. Globally, we are experiencing a significant global warming crisis. Our planet is getting warmer by the day, and we need to take action. By utilizing the SolarCoin innovation, there is an increase in sustainability and the earth will soon enough recover from toxic energy production.
However, the SolarCoin doesn’t only take care or benefit the producers. The consumers will get the chance to install solar utilities more cheaply through the SolarCoin.
Is SolarCoin a legit investment?
Like most currencies (and the highly volatile cryptocurrency market), the value of the solar increases or falls by the millisecond. Its value is always dependent on the demand, supply, paper equivalent, trading volume or other verifiable factors. Be mindful that SolarCoin does have its bouts of supreme volatility, such is the game with crypto investing. So be wise and only gamble… invest what you can afford to lose.
SolarCoin is an intriguing investment for environmentalists and gamblers alike. You have the potential to make great returns and support an investment vehicle that actually helps the world.
The SolarCoin currency value may not seem as significant considering the Megawatt-hour. Although, its prolonged value may yield unimaginable returns.
The SolarCoin serves as a legitimate investment option. If you are looking forward to a long-term high yield future return, it is unquestionably a strong cryptocurrency.
Over the years, there has been a significant and notable increase in the use of Solar energy. From various reports, solar use has seen annual growth of 60%. This means that an investment in the SolarCoin has a high prospect of increased value. According to the United States Energy Department, American installations of solar energy have grown seventeen-fold from 1.2 gigawatts (GW) to an estimated 30 GW today. Furthermore, the website further claims that this amount of power could energize 5.7 million American homes.
According to Bloomberg, China is expected to use 54 gigawatts in 2017. It’s a worldwide phenomenon that will continue to grow. And as the world adopts solar energy as a preferred source of renewable energy, so too will the value of cryptocurrencies like SolarCoin. It certainly helps that world has adopted the Paris Agreement, as the ultimate authority on climate change. From China to North Korea to India (except for one notable exception… ahem), every country is working towards saving our oceans and protecting the penguins of the future.
The second biggest country (in terms of population) is India, and they too are shifting most of their energy use to solar power. In fact, solar energy is expected to comprise of 40% of all new power capacity in India, according to a prominent news journal. Despite the claims of the power of “clean coal,” one of the fastest growing industrial countries have decided to ditch the black stuff for the gold stuff – as in solar power.
Solar power contributes around 39% of India’s power, according to the Mercom Capital Group. It has grown steadily from 2016 and 2017. Since India has also committed to the Paris accords, those solar power usage will only continue to grow:
(Source of table: Quartz India and the Mercom Capital Group)
As solar power becomes more ubiquitous in two of the world’s most populous countries, it is only inevitable that they will try to monetize on that dominance. What better way to power an entire country with an unlimited power source and use it to mine for something of worth? Unlike the other gold stuff, you don’t even have to sweat in mines. You can play video games and Netflix all day, while having the lights turned on – all day and all night.
Let the laggards stay with their clean coal. We’ll just Netflix and mine all day and all night. Can you say profit?
How does SolarCoin work?
Mining of the SolarCoin is done in every MWh of renewable solar energy produced. If a typical solar system creates about 10MWh, then it would mine 10 SolarCoins. Therefore, if the production plant is large and provides more enormous amounts of solar energy, it will yield a faster production of the SolarCoin.
The SolarCoin creators referred as SolarChange has integrated a SolarCoin Blockchain that has efficiently incorporated other energy management and monitoring features. They aim to drastically increase in their mass challenge program by upscaling the Al-Blockchain solutions. Besides, they seek to improve their Prosumer capabilities from a startup to an SME to expose all the technologies into utilities within the solar industry.
As from the beginning of the year, more that 34 million SolarCoins are already circulating. This figure significantly shows us that the value will dramatically increase by 500 per week. More so, the 240000 SolarCoins have been given to solar producers within 23 countries. There are also some crowdfunding sites that are solely dedicated to the SolarCoin.
As far as the cryptocurrency market goes, the SolarCoin has a significant gap of improvement. It is looking forward to shooting for a $30 price. The main issues would be increasing as an alternative currency for both the sellers and buyers.
When compared to other cryptocurrencies the SolarCoin value is not only the core strength. The main value comes from its nature of incentivizing of production of solar energy. The producers are hopeful that the project will increase energy production by 97500 TWh of electricity.
Is SolarCoin worth it?
SolarCoin is undoubtedly the cryptocurrency for the future. It will create proper environmental standards for all individuals around the globe. By succeeding in the cryptocurrency market, SolarCoin will increase the production of solar energy and provide a safe and sustainable electricity source for the consumers.
The growth trend depicts that the SolarCoin will be an essential cryptocurrency within the next decade which promotes a better life and environmental factors.
We at AbudaTrade wholeheartedly approves this ingenious financial tool. Finally, we have a real currency that is not backed by fake promises of fiat and central banks in the pockets of the grubby corporate robber barons. Tools such as this one brings the power back to the people and actually helps the environment. Profit!