KWHCoin Launches Energy Token Reward System Empowering 2.5 Million Customers in NC Electric Cooperatives
The need for energy efficiency and reward programs is particularly acute for low- and moderate-income households in North Carolina. Nationally, the energy cost burden is more than double for low-income households compared to median households, and low-income residents in North Carolina face some of the highest burdens in the country.
KWHCoin has launched an energy token reward system designed to incentivize energy efficiency and renewable energy generation among cooperative members. More than 2.5 million people across 93 of North Carolina’s 100 counties are served by local electric cooperatives.
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“Our focus globally and domestically is on the edges of the grid so developing energy efficiency and reward programs for cooperatives in the state is a primary focus as part of our United States electrification strategy,” says KWHCoin CEO Girard Newkirk.
KWHCoin will integrate the renewable energy data of cooperative partners on its blockchain providing transaction security, energy tracking and a token reward system. North Carolina’s electric cooperatives are in pursuit of innovative technologies to better serve their customers and reward sustainable behaviors.
“Working with the cooperatives gives us the ability to offer our rewards system, energy tracking and bolster energy efficiency within cooperatives. This is a perfect example of applying blockchain technology as a management and decentralized solution to reduce energy poverty while incentivizing more solar deployment to the grid,” says COO Monica Shepard.
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