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To Increase your solar panel profits on your home is a major concern for many in the Uk since UK Government put an end to two major renewable energy incentive schemes stating they would not be replaced. The first was the ROC (Renewable Obligation Certificate), their certificates brought in a second reward for solar and wind farms being allocated for every 1MW/h of energy they produced.
SOLAR ENERGY ON UK HOMES IS THIS PROFITABLE – A BRIEF REVIEW
The second scheme was the residential feed-in tariff. This incentive scheme rewarded consumers for investing in rooftop solar.
Furthermore, if you are an energy company who facilitates the sale of that green energy you need to buy REGO (Renewable Energy Guarantee of Origin) certificates from another source to sell that green energy for a premium green energy, even though it is green energy.
The whole process is slow and archaic in its design. Taking three months or more to get paid for that energy or have certificates assigned. Right now there isn’t a financial reason to get solar installed onto the roof of your house. It’s time for a new way of doing this. The purpose of this article is to focus on how you can as solar panel owners increase your solar panel monthly profits.
WHAT ARE THE CURRENT USAGES OF BLOCKCHAIN TECHNOLOGY IN THE ENERGY SECTOR?
The energy sector operates on a business model that involves having players both upstream and downstream. Upstream players produce energy that will be transported and consumed by other players downstream. So, a good example would be, producing electricity from a generator upstream and selling to power companies who in turn sell it to consumers downstream. Power companies in this case act as midstream suppliers. Consumers get to consume the product (power) that has been produced upstream.
All these different levels from production to consumption make this industry an ideal target for Blockchain. This complex supply chain needs transparency, prudent data management and speedy transaction settlement. Immutability and transparency within Blockchain technology make it an ideal tool for managing the complexities involved in this sector.
One key area where Blockchain can be effective in the energy sector is in the elimination of middlemen. This technology has the capability to eliminate midstream players in energy production and distribution. This can effectively lower the cost of energy. With Blockchain technology public ledger, users can purchase directly from power providers.
Secondly, Blockchain technology can also be used to create commodity trading platforms in the energy sector. This will create an opportunity for trading in green certificates. Since the energy sector has a relatively large number of players, Blockchain tech can also help in data and inventory management. This helps improve transparency in this sector.
Clearly, there is great potential for Blockchain in the energy industry. Experts, estimate that by 2020, this industry is expected to grow to USD 3 billion.
INCREASE YOUR SOLAR PANEL PROFITS – IS THERE A FUTURE FOR GREEN ENERGY?
As populations and economies expand, there is an increased demand for energy. As an example, currently, China and India account for about 30% of global population. This places significant demand on energy in these two countries. Non-renewable energy resources such as coal and oil have acted as our source of energy for the last two centuries. Almost 85% of our energy sources have been non-renewable. However, non-renewable energy resources are finite. Researchers indicate that with the current output and demand, these energy sources may last for a maximum of 200 years provided production is kept at a constant( This hasn’t put into account non renewable energy sources that are yet to be discovered). This shows that we may deplete current energy resources sooner than we think. it goes a long way to show how unsustainable oil and coal are and paints a future that is definitely green.
United Nations Secretary-General António Guterres has called on world governments to achieve net zero carbon emissions by 2050 in order to slow climate change
Globally, we are seeing a cultural shift across the world. Countries have witnessed the adverse effects of CO2 emissions. Citizens across the world are pushing their governments to lean their policies towards renewable energy production. Currently, only 15% of our energy sources globally are renewable. However, there is hope that the future is green. Statistics indicate that in 2019, 44% of German power consumption was renewable. This was up from 39% in 2018.The sources of renewable energy in Germany are offshore and onshore wind, biomass, Solar and hydroelectricity. Experts say that by 2040, Renewable energy should be the fastest growing energy sector. It is expected that countries across the world will focus on more green energy sources to power their economies.
A recent study by Stanford University estimates that about 143 countries are responsible for 97.8% of global CO2 emissions. The study further proposes that the world can be divided into different regions that work together on energy storage. By doing this, we can achieve sustainability on our energy needs by 2050. Switching to green energy sources such as water, solar and wind will eliminate close to 7 million deaths annually that are caused by pollution.
HOW CAN BLOCKCHAIN AFFECT THE ENERGY INDUSTRY?
Energy agencies agree that Blockchain technology has the potential to radically change the energy sector. Energy companies can also leverage on this technology to boost sales, cut costs, improve customer service and enhance transparency. As the energy sector becomes increasingly digitized, Blockchain technology can play a significant role in managing this complex system.
Blockchain has the potential to be applied in multiple ways in the energy industry. Firstly, the transparent nature of Blockchain technology can help enhancing the auditing process of energy companies.
Secondly, the use of smart contracts in the energy sector creates the capability to instantly switch from one utility provider to another. This deepens competition within this industry and may lead to a reduction in energy prices.
Thirdly, Blockchain technology can also be used to enhance data privacy in the energy sector. Privacy of users and their identities can be concealed using Blockchain technology.
Fourthly, Blockchain technology can play a critical role in the management of energy networks. This can be done by merging multiple energy trading platforms into one whole network. Doing this may save money for the energy companies and this may trickle down to the consumers thorough a reduction in energy costs.
This technology can also play a significant role in the management of smart meters and data storage in the energy sector. The technology will also form the backbone of localized Peer to Peer energy trading.
Blockchain technology can enable energy consumers to trade energy at a peer to peer level. They effectively become suppliers. This is especially possible with renewable energy sources such as wind and solar. Households may tap into this energy and produce energy. This excess energy can then be sold at a P2P level to other households. This will lead to an increase in energy production and consumption within local economies.
Blockchain technology may also help companies promote their energy products in a more customized manner. For example, using Blockchain and AI technologies, an energy company can monitor energy patterns for their consumers and offer them products that suit them. The companies may offer their consumers discounts or other value additions that may suit them.
Blockchain tech may also enable automatic billing for consumers and power producers using smart meters in the energy industry.
HOW ROWAN ENERGY CAN INCREASE YOUR SOLAR PANEL PROFITS
Rowan Energy is dedicated to increase your solar panel profits of rooftop prosumers can earn and therefore encouraging the adoption of residential solar again.
Rowan has developed a platform that takes certified meter readings and issues two certificates from that data. Each certificate is stored on our custom-built low powered (therefore low-carbon) blockchain. Each certificate states the source of the energy, the meter ID and the grid reference of the generation along with the time and date it was generated.
The first certificate is allocated to the Energy company who can use the certificate as a Guarantee of origin. In fact, we the end customer buying the energy can look on a dashboard and see where the energy is coming from in real-time. Bringing transparency to the generation and source of energy.
The second certificate is allocated to the residential producer. This certificate is to be certified and with a click of a button can be offset from their energy bill, sold to business to offset their carbon footprint or even donated to charity at a single click of a button.
Because of the nature of our tokenized certificate, we can fractionise certificates. This means we can assign 1000th of a certificate for every 1KW produced and they are minted in real-time, adding liquidity market increasing owners solar panel monthly profits.
Solar owners will also host a small Raspberry Pi miner device in their home that is either integrated into their battery storage or a standalone unit. For validating transaction on our blockchain they will earn 1 RWN token every day for being a part of our mining pool.
The consumer can see where their energy is coming from in real-time reassuring them it’ truly green and the prosumer will be able to generate a second income from their excess energy more than doubling what they can get now. Energy companies are encouraged to adopt the solution as they will make significant savings on sourcing and buying REGOS.
ROWAN ENERGY’S LONG – TERM VISION AND PLANS
In light of all these developments in the energy sector, we see that the future is green. Global economies and enterprises should rise to this occasion and demand a shift in the way we power our industries. Rowan energy is at the forefront of this striving to not only Increase your solar panel profits but so much more. This project is a green energy platform that seeks to leverage on Blockchain technology to achieve energy sustainability through the use of renewable energy.
The vision of Rowan Energy platform is to achieve sustainability through adoption of green energy whilst also increasing montly proftis for solar panel owners. At the same time, the platform seeks to set up an energy market that will empower its community by allowing them to trade energy at a P2P level
The project operates through a Proof of Authority validation mechanism. Proof of Authority is an algorithm mostly used by utility companies. It works by assigning special status to members on the Blockchain and granting them permission to generate blocks. Members in the network assign their trust to specially authorized nodes in the network. When majority of these nodes sign a block, then it is assigned onto the network, With Rowan Energy, this algorithm basically allows each member of the community to be actively involved in the network by validating transactions and also generating renewable energy within the community. This energy can then be sold to other members within the community. Selling green energy, say from your solar Panel, at a P2P level will not only enable small scale Prosumers earn income from the sale, but also helps in reducing the overall costs of energy as midstream power suppliers(brokers) will be cut off from the market. This will lead in reduction in power costs. Secondly, use of Blockchain in the energy industry promotes transparency as one can see and validate the source of energy they are consuming..
Allowing members of the community to validate these transactions helps to promote trust and transparency within the community. Members who validate the transactions that take place in this community will be rewarded with Rowan tokens. These tokens will enable community users to offset some of their energy costs.
Rowan community is also actively engaged in building decentralized applications for the energy industry. Doing this helps deepen Blockchain usage in the energy industry and takes us closer to achieving energy sustainability.
The power of numbers in the community makes it possible for members in the community to purchase green energy from one another. The community is also better placed to purchase energy from other green sources in bulk and at huge discounts and increase your solar panel profits.
This project is managed by a solid team of professional with extensive knowledge and technical know-how in the energy and Blockchain industries.
Phase 1 – Rowan Energy Blockchain
Rowan Energy Blockchain is the world’s first community-supported Green Energy Blockchain. Our blockchain is super low powered (therefore low carbon) Proof of Authority consensus mechanism, where each of our members takes a role either validating the energy transactions or generating renewable electricity and selling it back to the community, this phase will Increase your solar panel profits and will act as a benchmark to move onto the the next phase.
Phase 2 – Rowan Renewable Energy Certificates (REC)
A REC is a renewable energy certificate is an asset-backed token that represents 1KW/h of energy generated by rooftop solar. The blockchain shows who, where, when and how the electricity is generated. These certificates are used to offset your carbon footprint and represent 0.5KG of carbon.
Phase 3 – Rowan Energy
Rowan Energy is the world’s first Community Fed Green Energy Company. Using existing infrastructure, we enable owners of rooftop solar to sell their generated energy to other consumers peer to peer bringing in the best returns possible for solar and the cheapest green energy on the market. Fully traceable back to the source, our energy is truly green and reported in real-time.
CAN ROWAN ENERGY INCREASE YOUR SOLAR PANEL PROFITS – CONCLUSION AND OVERVIEW
It is incumbent upon us to demand from our governments a policy shift into green energy. Recent climatic events across the globe point that our current energy sources are unsustainable and injurious to our global ecosystem.it is upon us to do more. Fortunately, extensive research has been carried out on renewable energy generators and it has been proven that the world can be sustained through renewable energy sources.
As a result, we are seeing more countries adopting these sources to power their economies. Rowan energy is a project that ever solar panal owner needs to be aware of, if you own solar panels you need to familirise yourslef with this revolutionary model to increase solar panel profits for homeowners is at the heart of everything they do! Click here If you woul like see Rowan energy most recent press release
Hopefully, you have enjoyed today’s article. Thanks for reading!
Have a fantastic day!
Live from the Platinum Crypto Trading Floor.
Earnings Disclaimer: The information you’ll find in this article is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgement and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will not be held liable for any damages you incur.