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Africa explores the use of blockchain technology to develop clean energy

Time : 25/05/2022 Author : jrzlmg Click : + -
        Polaris smart grid online news: due to the lack of traditional infrastructure, Africa is generally trapped in the slow and backward power industry, which greatly hinders the economic growth of the region. As one of the regions with the highest solar radiation in the world, Africa's solar home system and micro grid are regarded as positive solutions to change the development of the power industry in the region. In order to promote the implementation of solar power generation in a clean and affordable way, the blockchain technology has been widely praised. In May, the African continent launched two renewable energy trading platforms based on blockchain technology, aiming to introduce decentralized finance based on encryption into Africa, solve the problem of rural power financing, and accelerate the electrification process in Africa.
        The industry generally believes that the release of funds from the global cryptocurrency market can not only create a new source of funds for the development of clean energy in Africa, but also well disperse investment risks. In early May, engieenergyaccess, a subsidiary of French Enge group, and energyweb, a non-profit blockchain organization, announced that a blockchain trading platform called "solar crowdfunding" was officially launched in Africa. The platform aims to provide financing and related financial services for clean energy projects in sub Saharan Africa by using blockchain technology. Stefan Zelazny, director of software and it of engieenergyaccess, said that the problem of financing in backward areas can be solved through decentralized financing crowdfunding platform.
        "At present, at least 580 million people in sub Saharan Africa still do not have access to electricity, but almost all of them have no bank accounts. We use blockchain technology to connect these people with renewable energy project developers. The former can use clean energy, and the latter can also increase income. This can enable backward areas to use green power in an affordable manner.". The initial financing target of the solar crowdfunding blockchain platform is US $100000, and the financing scale will continue to expand as the number of projects increases. Engieenergyaccess will use the funds raised to deploy solar home systems in sub Saharan Africa, especially in Rwanda, Zambia and other countries with particularly low electrification rate.
        The fund-raising is mainly used for the purchase and installation of solar power generation devices. Consumers will gradually repay this amount through the "lease to own" mode. Through the blockchain technology, they will bear the cost at a very low installment rate. For investors participating in crowdfunding, they can obtain energyweb tokens, and the tokens held in their hands are expected to bring 10% investment return in one year. In late May, sinanenergy, a South African blockchain startup, announced the launch of a carbon credit token blockchain platform. The platform aims to mark, record and verify the carbon credit lines generated by the company's own power stations, and then trade these lines in the global market. The funds obtained from the transaction will be invested in a distributed power generation project in northwest South Africa.
        Sinanenergy disclosed that the power station is located in an area with high intensity solar radiation and high wind speed in the North Cape Province of South Africa. The construction of its distributed power grid will also start in the near future. At present, it has obtained the construction and operation license and signed the relevant power purchase agreement. "We have experts in renewable energy technology, blockchain architecture, carbon market and sustainable development, and can provide professional support for the operation of this carbon credit token blockchain platform." Mohamed Madhi, CEO of Sinan energy, said, "it is expected that the platform operation results will be released in the fourth quarter.
        ”Some people in the industry pointed out that at present, the carbon credit transaction is mainly handled by the over-the-counter transaction broker, lacking transparency and centralized pricing. The entire transaction process is long and the intermediate cost is high. By monetizing the carbon credit line and opening up the two-way circulation on and off the carbon credit chain, the liquidity of carbon credit can be improved, so that relevant participants can conduct transactions directly on the chain, which improves the transparency and transaction efficiency to a certain extent, and also reduces the transaction renewal fee. In fact, the main challenge faced by small and medium-sized solar projects in Africa is the lack of financing. The platform launched by sinanenergy can not only provide credit for global carbon credit transactions, but also provide a new financing solution for African solar project operators.
        At present, crowdfunding projects that use blockchain technology to help economically backward or energy deficient areas to carry out clean energy projects are very popular in Africa. Sunexchange, a South African solar energy leasing company, also belongs to this category. The company uses small crowdfunding to provide point-to-point solar energy leasing services for African schools and hospitals. "Our small crowdfunding can be as small as investing in a single battery panel." Abraham Cambridge, CEO of sunexchange, said, "through the blockchain trading platform, all parts of the world can pay for the sunshine of Africa, which has greatly helped Africa reduce energy poverty.
        ”。 Blockchain can also promote cross industry integration, including the integration of power grid and Internet, and the integration of power and telecommunications. On this basis, the production, storage, transmission, trading, use and management of electric power will become more intelligent and environmentally friendly, and renewable energy, smart grid, energy Internet, etc. can also be easier and faster to implement. Technavio, a global technology research and consulting company, pointed out that from 2021 to 2026, the scale of block chain technology in the energy market is expected to increase by $915.5 million, with a growth rate of 66.37% in the forecast period. At present, renewable energy is becoming the main force of energy trading blockchain applications.
        In May, the Philippines disclosed that it would explore the application potential of blockchain technology in the power market. The power grid and other infrastructure in the country are relatively weak and prone to large-scale blackouts. Therefore, the country has been striving to develop microgrid and enhance power supply reliability. Iemop, an independent power market operator in the Philippines, said that a pilot project had been launched in May. The decentralized characteristics of the blockchain can support users in different power markets to conduct point-to-point direct power transactions, and can also sell the remaining electricity to other consumers while ensuring the balance of power supply and demand. However, the high cost of implementing and maintaining the blockchain technology is still the biggest challenge affecting the promotion of the technology in the energy and power fields.
        PwC estimates that by 2030, blockchain technology will add $1.76 trillion to the global economy. With the global acceleration of low-carbon transformation, more and more fossil fuel companies begin to increase investment and development of renewable energy. The application of energy trading blockchain provides a stronger impetus to this trend. Special statement: Polaris reprints the content of other websites for the purpose of transmitting more information and not for profit. At the same time, it does not mean that it agrees with its views or confirms its description. The content is for reference only. The copyright belongs to the original author. If there is any infringement, please contact us to delete it. Yesterday, the State Grid Corporation issued the notice on Further Strictly Controlling Power Grid Investment (State Grid Office [2019] No. 826).
        The paper puts forward the investment and construction idea of "three prohibitions, two prohibitions and two no longer". I personally believe that this is not only a document, but also a sign of the overall development strategy transformation of State Grid Corporation. As the largest power grid enterprise in the world, the State Grid Company needs a huge amount of procurement for investment and construction every year.
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