FUERGY isn’t limiting itself to being just another player in the global energy industry. Sure, we are creating something that current energy companies should fear, but we’re not just an energy company — we are developing a platform that will fundamentally change the way electric energy is produced.
Electric energy today
Nowadays, electric energy is produced in a highly centralized fashion. Utility companies generate electric energy through power plants and are allowed to set the conditions to the customers, forcing them to accept whatever price they are offered. Renewable energy sources such as solar and wind allow a much more democratic distribution of energy generating capacities: rarely can a community come together to finance its own coal burning power plant, but the same is often done for wind farms or solar generators. On an even smaller, grassroots scale, roof-mounted solar PVs offer the ultimate decentralized source of electric energy.
Due to a number of current issues, renewable energy does not offer a complete solution to the energy needs of most households that install them. However, imagine if you could reduce your household’s consumption via an AI that optimizes your energy usage, and then you could share the excess energy you have to other people. This is how FUERGY will make renewable energy an affordable and smart option for everyone. This is how we will spark the next green revolution and fundamentally change the way energy is generated.
The FUERGY solution
Our solution makes the best use of cutting-edge technologies while utilizing already-built public electricity grids. FUERGY is an IoT-enabled hardware device that connects your solar (or other renewable) with your home battery (or other energy storage). The device then connects to the FUERGY network and you become a participant in the new energy ecosystem, in which you are free to trade, share or receive green energy with any other FUERGY user. FUERGY does not require the construction of any additional electricity grids as it can run solely on the existing infrastructure.
All transactions are made via the blockchain, as its decentralized ledger adds a layer of security and transparency that could not be achieved through other means.
Imagine the entire FUERGY network is a global virtual grid that acts as a free marketplace for energy. Every owner of a FUERGY device is perceived as an individual node within the network. Each FUERGY user is represented within the blockchain and can trade green energy with other users. The minimum requirement to be a FUERGY user is the ownership of a working FUERGY device.
Microgrids and energy communities
Community-building will be supported via the creation of virtual microgrids. While the entire FUERGY network can be considered as a global virtual grid, users can also create smaller virtual microgrids between themselves, irrespective of the distances between them. Within a virtual microgrid, users can efficiently share electric energy between each other, utilizing FUERGY’s AI to create optimal trading patterns based on the predicted behavior of all devices within the microgrid.
FUERGY also supports the construction of physical microgrids by its users. In this case, all the advantages of virtual microgrids apply in addition to the removal of transmission fees (paid for the use of a public grid).
Incentivizing green energy production
Being environmental is a choice that is often undertook by those better off. Higher-income regions such as Western Europe and North America tend to contain more people willing to recycle, invest in renewables or do other environmentally-friendly lifestyle choices. However, this is only a tiny portion of the world’s population. The rest would certainly like to undertake similarly earth-friendly choices in their day-to-day lives, but can’t because it is uneconomical.
FUERGY is going to spark the next green revolution by bridging the gap between economical and ecological. We are going to make renewable energy the smart choice for people around the world by leveraging new technologies and providing a platform where they can efficiently trade the energy they create.
In addition to this, the FUERGY Foundation will reward users with 1 FUERGY token for every 1 Megawatt of green energy that they produce. This Green Energy bonus token will be rewarded in addition to standard payment for the sale of energy on the FUERGY platform. By 2030, we plan to complete the redistribution of Green Energy bonuses in tokens. The FUERGY hardware and software platform will then be released to third parties, massively increasing the number of FUERGY users worldwide. The number of entities involved in the FUERGY ecosystem will create a scarcity of tokens with a resultant increase in demand.
