Blockchain solar PV investment fund comes together with energy storage platform
Solar DAO, a digital, autonomous, closed-end, utility-scale PV project investment fund, has announced its partnership with Powerchain, decentralized platform for energy storage, which allows prosumers to buy, store and sell energy.
While a great number of blockchain endeavors in the solar arena focus on already established power generation systems and distribution networks, only a handful of projects so far look to both optimize and expand the market by engaging new investors.
Russian blockchain project, Solar DAO is enabling people with budgets as modest as $1 to become co-owners of solar projects. It is based on a crowdfunding model, which allows users to finance the construction of solar PV plants around the world, circumventing technical and other barriers.
With an established project pipeline, Solar DAO is now looking to solidify its foothold in the solar market through a partnership with Estonian blockchain project, Powerchain, a decentralized network for energy storage.
In addition to promoting renewables, the partnership aims at connecting Solar DAO plants to the Powerchain network of distributed batteries.
The Powerchain platform is based on an energy storage as a service business model. It is open to any individual or company, which can assume any role in the system, ranging from generators, storage capacity providers to consumers, or act simultaneously in several roles (for example, storage members can also have a system installed to generate electricity).
The Powerchain network is built on the equipment of platform users and open to any type of storage systems. All potential users that add their storage systems to the network will in return gain a certain number of POWEC tokens, depending on the size and type of the battery.