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Energy Blockchain Start-Up Set to Reshape the Renewable Energy Market
Bitcoinist | Mar 08, 2020 | 13:04
Rowan Energy is currently conducting a pre-IEO with its token available on a 20% discount from the LATOKEN exchange price.
The firm has built a community-supported Energy blockchain with the aim of redefining how we buy and sell energy sources.
In the UK if you own a large solar or wind farm, you are entitled to Renewable Energy Certificates.
These are of two types, the first is called a Renewable Energy Guarantee of Origin certificate or REGO. A REGO is a coupled asset sold along with the electricity itself to prove that the energy is from a renewable source. The second Renewable Obligation certificate or ROC is an uncoupled asset sold to businesses that wish to offset their carbon footprint.
There were 100Million ROC certificates awarded in 2017-2018 with a value of approximately £5Billion. But not a single ROC or REGO was assigned to a smaller rooftop generator.
In 2018 a government announcement closed the doors to its residential solar incentive scheme, and another program would not replace the subsidy scheme.
Since then, there has not been an economic reason to install solar panels on your property. The best deal out there currently is a 5.5p per Kw/h with the opportunity to buy that energy back for almost three times as much in the evening.
By tokenizing renewable energy certificates, Rowan Energy can split certificates up into smaller parts meaning the firm can then group assets together to make a single ROC or REGO selling the multi-sourced certificate on the open market potentially doubling income to rooftop solar owners.
With Rowan Energy’s low carbon POA blockchain, renewable energy can be tracked as it’s fed onto and drawn from the grid.
It means that after adoption, peer to peer energy trading can become a reality with automated trading between prosumers and consumers. You will be able to sell your surplus energy directly to your neighbor getting the best price and instant payment. This is a vast improvement on the three months turns around they currently experience.
Consumers also have the bonus of being able to see where their energy is coming from in almost real-time.
Rowan Energy will not make profits from selling energy but from the transaction fees between trades. The higher the volume of sales, the higher the demand on the RWN token.
Rowan Energy is currently in the pre-IEO phase before their IEO with the LATOKEN offering starting 23rd March. Right now, you can get RWN tokens for 20% below the IEO price.
Sign up here, rowanenergy.com/signup and join the energy revolution.
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