Your SolarCoin economy

Nick G
Nick G in SolarCoin
Mar 17 · 4 min read

Economies are people. Five years ago, when we launched SolarCoin, our economic vision was simple: by growing the number of people claiming their free reward, a useful $10–20 economic incentive for solar energy can emerge. The theory is that currencies are protocols with emergent value.

The research presented below appears to bear this out. With 2.8 GW of the worlds 500GW of facilities participating in our program, there is 1 SolarCoin given out for every 200 MWh of energy generated globally. Our goal is 1:1 reflecting 100% participation.

The World installations receiving free SolarCoin:

Total nameplate capacity 2,837,038 KW (2.83 GW) Count 5,514 Median 10 KW Average 515 KW Largest 160,000 KW Smallest .10 KW Stdev 3,584.7 KW <5 KW: 1,314 5-20 KW: 2,073 20-100 KW: 1,126 100-500 KW 344 500 KW-1 MW 289 1 MW & above 368

Economies can be defined by the currency protocol used for exchange, such as the US dollar economy. Below is a summary of the SolarCoin economy over 5 years.

Currency protocol demand = people

Participants in the SolarCoin economy are mostly solar energy producers who have claimed their SLR, although as an open ecosystem others can buy their way in. Early on, miners were required before the low carbon Proof of Stake algorithm was mature enough for use. While measuring the entire economy is impossible, we can use the number of claimants as a proxy for size. Claimant growth can be tracked in the blockchain.

These figures are from a new reporting system which eliminates duplicate addresses and multiple systems. Note q1 2019 data is from March 15th. The final figure will likely be slightly larger.

3,100 unique SolarCoin participants have claimed §13,505,491 SolarCoin in 73 countries, reflecting 13.5 TWh of energy generated and incentivized. For user uptake context all of the smart contract platforms (Eos, Ethereum, Tron etc.) combined see roughly 90,000 daily users.

A full table of # of claimant’s / country will be posted in the solarcoin_group slack

How currency protocols work

SolarCoin works like every other currency. Every person contributes to the value of protocol just by holding, using or recognizing its value even if they received it for free.

Here is what value looks like for traditional currency protocols in a network. Each additional protocol participant supports $500-$15,000 in market cap. Traditional economics refers to this as M0.

Extracted from: Network Capital: Value of Currency Protocols Bitcoin & SolarCoin Cases in Context

Supply

Circulating supply data is taken from the blockchain.

The early Proof of Work (POW) period for Solarcoin saw high inflation. This was quickly curtailed. The 33m SolarCoin issued are assumed to reflect solar energy generated prior to 2010.

The mix of supply (currency issued into circulation) and demand (new participants) as measured by claimants combine to form the economy. Price from CoinMarketCap tells the rest of the story.

SolarCoin was not immune to the 2017 hype period of crypto.

SolarCoin’s $ value/user (node) supports the Network Capitalism’s network protocol theory

From a tiny economy with a few hundred participants to a still small but 10 times larger economy with a few thousand and market capitalization (M0) of $2.5 million, it appears the $/node is in line with the Network Capital theory of currency as a protocol.

Our job at SolarCoin is to add more people generating solar energy and claiming their SLR. We plan to do this primarily through monitoring platforms like SMA Sunny Portal, whose 260,000 users are now starting to sign up. Our goal is to make the next 10x leap in claimants as quickly as possible. Tell your solar energy generating friends to claim their free SolarCoin here.

Note: This is not a recommendation to buy or sell securities. The data being provided has been created on a best efforts basis for accuracy and may be subject to revision.

SolarCoin

News from the SolarCoin Foundation and community

Nick G

Written by

Nick G

Co-founder www.solarcoin.org 71 countries, renewable energy reward. Blockchain advisor to govts, ministers, G20, UNEP, UNFCCC, UNDP, Fortune 500 etc.

SolarCoin

SolarCoin

News from the SolarCoin Foundation and community