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Commercial Blog

Spirit Energy Now Accepts SolarCoins: Air Miles for Solar Electricity

Erica Charles Sep 28, 2018 4:00:00 PM

We hear more and more about Blockchain technology.  The technology creates a transparent public ledger that records series of transactions, facilitating a fast, low-cost, trusted transfer of value without the involvement of traditional intermediaries.  

Already used in the financial sector, it’s only a matter of time before Blockchain hits the energy sector in a major way, particularly with the explosion of micro-generation of electricity, the ending of solar subsidies, and the advent of smart meters.

With Octopus Energy claiming to have paid customers to use excess electricity at night on four occasions in the last 12 months, real time peer-to-peer trading of electricity is surely just around the corner. Other potential applications include authentication of renewable generation and trading of emissions permits.

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Topics: Is Solar a Good Investment?, SolarCoin