Why Blockchain Is the Future of Renewable Energy

SunContract is devoted to changing the renewable resource area with its blockchain-powered peer-to-peer energy trading platform. In this short article, you can read our interview with Gregor Novak, the co-founder of SunContract

Novak talks about the current developments in the market, the impacts of international energy characteristics, and the methods which SunContract is improving its items with making use of advanced innovations like expert system, artificial intelligenceand non-fungible tokens.

Explore our discussion to discover how SunContract is leading the energy market’s development at every turn, instead of simply participating in its change.

Interview with Mr Gregor Novak, co-founder of SunContract

• Can you share any current advancements or turning points SunContract has attained in the previous year?

In 2017, SunContract originated the first-ever white paper on a peer-to-peer energy market, setting an international precedent. This effort was followed by an effective Preliminary Coin Offering (ICOfor the peer-to-peer energy market, which was finished on August 1, 2017.

On April 1, 2018, we released the world’s very first retail peer-to-peer energy market on a nationwide scale, attracting our preliminary consumer base mainly from the blockchain neighborhood. This early adoption by over a thousand blockchain lovers marked a considerable turning point, as they were the leaders on our platform.

Moving into 2019, SunContract broadened its operations by developing a workplace in Estonia. Here, we got a license to run as a cryptocurrency wallet custodian. This tactical relocation was essential for our development and compliance in the developing digital possession landscape.

In 2021, we took a considerable advance by updating our platform to support energy self-dependent towns. This improvement shows our dedication to sustainable and community-driven energy services.

Over the previous 2 years, we have actually made considerable development in broadening our services. We got an energy license and introduced the energy market in Croatia, while likewise preparing for operations in Estonia. We developed a workplace in Malta to line up with the upcoming Markets in Crypto-Assets Regulation (MiCA), a brand-new European regulative structure set to be suitable from December 2023. Compliance with MiCA is vital for our growth, as it allows us to embrace and extend this policy throughout European nations once we protect the requisite license in Malta.

• How have international energy patterns in 2023 and early 2024 affected SunContract’s technique and operations?

The international energy patterns throughout 2023 and early 2024 have actually favorably affected SunContract’s technique and operations. With an increasing need for lower energy usage, our services are more appropriate than ever. We are devoted to supporting this shift, providing ingenious services that allow neighborhoods to autonomously master their energy requires. These patterns line up well with our pioneering function in the market, enhancing our dedication to supporting the worldwide shift to green energy.

• What brand-new innovations or developments is SunContract checking out or preparing to incorporate into its services?

SunContract is constantly developing, with an eager concentrate on incorporating innovative innovations such as AI and artificial intelligence. These innovations play a vital function in our backend services. Our system greatly counts on predictive analytics for numerous energy production sources like solar, hydro, and wind, in addition to for intake patterns and energy management.

We are deeply taken part in improving these predictive abilities, which are essential to our operations. Our next considerable stride in peer-to-peer energy management includes accepting blockchain developments, especially non-fungible tokens (NFTs). While NFTs are not an unique principle, their application in the energy sector provides a special chance.

We prepare to use the ERC-721 token requirement to release NFTs, each representing real life photovoltaic panels. These tokens will be tradeable on the brand-new SunContract NFT marketThis effort marks a substantial action in our journey to reinvent the energy sector with innovative innovation and including worth to each photovoltaic panel in a soalr farms, which end up being worldwide simple accacable and liquid.

• Exist any brand-new markets or areas that SunContract is targeting for growth in 2024?

Definitely, SunContract is actively broadening into brand-new markets. We have actually developed business and gotten energy licenses in Estonia and Croatia. In these markets, we are starting the rollout of our peer-to-peer energy services and checking out the combination of NFT innovations.

SunContract is likewise checking out chances in numerous international markets. We have actually just recently started to examine the capacity in the Japanese market. Our future strategies consist of not just widening our reach in Europe however likewise thinking about growth into other global areas. This tactical technique shows our dedication to international development and the adjustment of our ingenious energy services to varied markets.

• What are the greatest regulative difficulties dealing with SunContract, and how is the business resolving them?

SunContract needs to follow both regional and international guidelines. This indicates we regularly abide by differing energy guidelines, which vary from nation to nation. Furthermore, as SunContract needs to comply next to an energy likewise to crypto guideline making use of blockchain and other crypto properties.

Presently, in the European Union, this is mainly governed by the Markets in Crypto-Assets guideline (MiCA), which is set to be implemented from December 23 of this year. SunContract is actively working to obtain all required licenses for EU nations. As we think about brand-new markets, such as Japan or others we might get in, our technique is constantly to completely comprehend and abide by their particular guidelines.

Our dedication to regulative compliance is steadfast, both in existing markets and in any future growths. We comprehend the value of lining up with regional and worldwide legal structures to guarantee the smooth combination and operation of our services worldwide.

• How is SunContract adding to international sustainability objectives, especially in regards to renewable resource and minimizing carbon emissions?

SunContract naturally adds to international sustainability, especially lining up with the United Nations’ Sustainable Development Goals (SDGs) 7, 11 and 13. Our efforts and operations are developed to deal with all 3 measurements of sustainable advancement: financial, social, and ecological. Our energy market is a testimony to this extensive method.

The core approach of SunContract is to promote self-sufficiency and sustainability amongst people, business, and neighborhoods. This principles is not just in consistency with the UN’s sustainability objectives however actively promotes using renewable resource and the decrease of carbon emissions. By concentrating on these locations, SunContract plays an essential function ahead of time worldwide efforts towards a more sustainable and ecologically accountable future, especially in the worlds of tidy energy and sustainable cities and neighborhoods.

• What methods is SunContract utilizing to motivate more customers to embrace solar power and take part in the energy market?

SunContract is actively engaging with different neighborhoods to promote the adoption of renewable resource, especially solar power. Our method consists of connecting to groups that are currently inclined towards sustainability and technological developments, such as blockchain lovers, young experts, IT neighborhoods, and even creative circles. By targeting these varied groups, SunContract intends to motivate involvement in our energy market. Our objective is to motivate these neighborhoods to welcome sustainability and self-sufficiency, promoting a more comprehensive approval and usage of renewable resource sources.

• Can you go over any current or approaching collaborations or partnerships that are considerable for SunContract?

SunContract is actively teaming up with numerous EPC business or solar or heatpump installers. This collaboration makes it possible for energy installers to use SunContract’s services, consequently permitting their clients to take part in peer-to-peer energy trading and other associated activities. Our market entry techniques differ throughout various areas.

In Japan, we are in conversations with recognized regional business interested in partnering with SunContract. The objective is to present and incorporate our ingenious services into the Japanese market. In the UK, we are in talks with possible partners who have actually revealed interest in working together with us.

While we aspire to share more information, official statements relating to these collaborations will be made as soon as arrangements are settled. These cooperations contribute in broadening our reach and effect in numerous global markets.

• How is SunContract placing itself in the significantly competitive renewable resource market?

SunContract distinguishes itself in the renewable resource market with its distinct and competitive company design. We place ourselves comparable to an ‘energy Uber,’ providing energy services straight to a vast array of customers. This technique incorporates both specific and service customers, successfully covering both B2C (Business-to-Consumer) and B2B (Business-to-Business) sectors. Our design enables anybody, whether they are personal people, business entities, or commercial companies, to gain access to and take advantage of SunContract’s services. This versatility and inclusivity are crucial to our method in standing apart in the competitive renewable resource landscape.

• How is blockchain innovation developing within SunContract’s platform, and what advantages does it give your users?

SunContract is essentially constructed on Ethereum blockchain innovation, which forms the core of our platform. This innovation provides our users unrivaled openness. They can see all their deals and activities on the platform, making sure total presence and automation of procedures.

Using blockchain imparts a natural rely on the system, as all deals and systems are safely tape-recorded and proven. This element is a substantial benefit for our users, cultivating self-confidence in our services.

Beyond specific advantages, blockchain innovation likewise improves neighborhood engagement. It enables more stakeholders who resonate with SunContract’s perfects of sustainability and ingenious company designs to get involved. They can support and promote for SunContract in areas where we are yet to develop our services.

With the combination of blockchain, SunContract has actually placed itself as an international gamer. The addition of an NFT market is set to even more this reach, making our services internationally available. The blockchain’s function in our platform is not simply a technological structure; it’s an entrance to broadening our neighborhood and improving the user experience on an international scale.

• How does SunContract include client feedback into its service enhancements and developments?

SunContract actively engages with varied neighborhoods on different social networks platforms, consisting of LinkedIn, Telegram, Facebook and others to collect consumer feedback. This important input is then carried back to our Research and Development (R&D) department. By doing so, we guarantee that the feedback is examined and used efficiently to boost our services and operations.

Our neighborhood plays an essential function in our constant enhancement procedure. They are not just the very best judges of our existing services however likewise an abundant source of concepts for brand-new offerings. In addition, the neighborhood contributes in checking brand-new services, supplying real-world insights that direct our development efforts. This collective method with our users is basic to SunContract, as it assists us to customize our services to satisfy the progressing requirements and choices of our clients.

• Can you explain how SunContract’s P2P energy trading market has progressed over the previous year, and what are the essential advantages it uses to customers and energy manufacturers?

The SunContract peer-to-peer (P2P) energy market has actually seen impressive development given that its creation on a nationwide scale in Slovenia in 2018. Beginning decently, it has actually broadened substantially each year. Presently, the market boasts about 20 million EUR in profits and continues to proliferate. This development is mainly due to the concrete advantages acknowledged by our consumers.

Among the essential benefits of our market is the removal of intermediaries. This element leads to customers typically paying lower costs compared to those used by conventional energy service providers. On the other hand, energy manufacturers get more worth from their output. They take pleasure in higher versatility, having the alternative to either utilize the energy themselves, share it with family members, or offer it at much better costs on the market.

This versatility is a considerable advantage for both customers and manufacturers, empowering them to take control of their energy use and sales. This empowerment is a main factor our users value our services, and it is a driving force behind the marketplace’s development.

• How is the SNC token presently being used within the SunContract platform, and exist any brand-new performances or usages for the token that you’re preparing to present?

The SNC token is the fundamental token of the SunContract platform, playing a crucial function in all our deals. It is a pure energy token, vital for the performance of our system, and does not represent any security or product property. This difference is essential for our users to comprehend.

As SunContract broadens geographically into brand-new markets, the intro of brand-new services and the increase of brand-new consumers to our energy platform naturally increase the energy of the SNC token. This growth is a considerable motorist of the token’s economics, can be examined by efficiency metrics like liquidity and market price, observable on platforms like CoinMarketCap and other comparable aggregation websites.

Relating to brand-new performances, we are continually presenting brand-new energy services that depend on energy of SNC token, enhancing its status as our core energy token. A prime example is our energy market, where deals for NFTs, especially those representing photovoltaic panels, are carried out utilizing SNC tokens just. This guarantees that the SNC token remains essential to SunContract’s environment, supporting all our services, from existing peer-to-peer operations to the upcoming NFT market and other services we prepare to introduce, perhaps within this year.

• Offered the changing nature of cryptocurrency markets, how does SunContract guarantee stability and dependability in the appraisal and usage of the SNC token for energy trading?

Our SNC token, being noted on worldwide exchanges, goes through market changes, just like any other cryptocurrency. Its worth is affected by need and action patterns, in addition to wider market patterns led by significant cryptocurrencies like Bitcoin. When it comes to the stability and dependability of utilizing the SNC token for peer-to-peer energy trading, we have actually executed particular steps.

In the style of our peer-to-peer energy market, we’ve made sure that the services and everyday settlements are not impacted by the SNC token’s volatilityThis suggests that for consumers utilizing the SNC token to pay their energy costs, direct exposure to its volatility is an option instead of a requirement. For those who decide not to hold SNC tokens, the variations have no effect on their energy settlements performed on our platform.

While the SNC token’s worth might change in the larger market, its use for day-to-day energy trading settlements on our platform stays untouched, guaranteeing stability and dependability for our users in this particular context.

• Exist any brand-new functions or growths prepared for the P2P energy trading market in 2024?

SunContract is actively pursuing growth in 2024. We have just recently went into the Croatian market, which marks the extension of our peer-to-peer energy trading market into a brand-new EU jurisdiction. This growth is at first concentrated on the Croatian market for 2024.

We are preparing to present our peer-to-peer energy market services in Estonia, possibly later on in the year. This growth technique shows our dedication to expanding our reach within the EU and providing our ingenious energy trading options to a broader audience.

• How does SunContract’s platform help with the combination of different renewable resource sources, such as solar, wind, and hydro, into the P2P market?

Given that its beginning, the SunContract platform has actually been created to support a varied variety of renewable resource sources, consisting of solar, hydro, and cogeneration or integrated heat and power with high effectiveness (CHP), as exhibited in Slovenia. Our platform uses sophisticated AI services to precisely forecast the output from these different sustainable sources, making them suitable and effective for combination into our energy market.

Notably, SunContract stays dedicated specifically to renewable resource sources. We do not endeavor into other types of energy, remaining real to our objective of promoting and helping with sustainable and eco-friendly energy options through our peer-to-peer energy market.

• How has user experience been boosted in the P2P energy trading market, particularly for those brand-new to utilizing blockchain innovation?

In boosting user experience on the SunContract platform, we’ve embraced a dual-level method. The very first level is developed for simpleness, dealing with users who might not have any anticipation about blockchain and crypto properties. For these users, the platform is uncomplicated, allowing them to take part in energy trading without requiring to comprehend the intricacies of blockchain innovation.

On the other hand, for advanced or crypto-aware users, we provide the capability to dig much deeper into blockchain performances. We’ve incorporated a Blockchain Explorer within the SunContract platform, total with an online forum where these users can see and trace all their crypto deals on the platform.

Our objective is to keep simpleness for the basic population, who are the main energy customers, while likewise offering innovative functions for users who want to check out more thorough blockchain abilities. This technique makes sure that the platform is available and easy to use for all, no matter their experience with blockchain innovation.

• Can you share more information about the upcoming NFT market? How will it incorporate with the existing P2P energy trading platform?

The upcoming NFT market on SunContract will provide NFTs that NFTs represent already-built and fully-functional photovoltaic panel’s digital ownership without physical setup. These NFTs will have a life time span of as much as 15 years, based upon company information. This market will be completely supported and incorporated with our existing P2P-energy market, which forms the structure of SunContract’s operations. All deals including the photovoltaic panels represented by these NFTs will be carried out through our P2P energy market.

There’s a cooperative relationship in between the NFT market and our P2P platform. The NFT market opens the chance for users internationally to develop their Personal Power Plant (PPP) by buying one or several NFTs. If a user lives in a nation where SunContract’s P2P services are readily available, they can straight make use of the energy from their PPP.

For users outside SunContract’s P2P functional areas, while they can’t straight take in the energy from their NFT-represented photovoltaic panels, they can still master their PPP. The energy created is offered on the SunContract’s P2P market in the operating nation, with the earnings granted to the user in the kind of SNC tokens. These tokens can be conserved in the user’s individual wallet on the platform and can be utilized or withdrawn as preferred.

This combination not just supplies an unique method to engage with renewable resource however likewise bridges the space in between conventional energy trading and the developing world of digital properties. It resolves the restriction of the users, regarles of individual solar possible facilities or nation of inhabitance, to be included, assistance and make money from the green energy shift

• How will the intro of NFTs affect the method energy properties are owned, traded, and handled on the SunContract platform?

The intro of NFTs is poised to substantially change the ownership, trading, and learning of virtual energy possessions on the SunContract platform. By tokenizing photovoltaic panels into NFTs, we are allowing these properties to be traded internationally, which is a considerable shift from standard designs. This digital representation not just makes photovoltaic panels more versatile and available however likewise presents tokenized type of it which is liquid by default.

Clients will have the flexibility to quickly purchase or offer these NFTs, permitting them to broaden or lower their PPP as required. This represents a significant improvement in the renewable resource market, as it speeds up the adoption of sustainable sources on a worldwide scale. Previously, lots of people worldwide have actually been not able to take part in the green shift. With NFTs, getting in and leaving the renewable resource market ends up being substantially more simple, providing a streamlined technique for anybody to purchase or offer these digital properties.

In general, the combination of NFTs into the SunContract platform is set to make renewable resource more available, versatile, and easy to use, boosting the appeal and usefulness of green energy financial investment for an international audience.

• What is your vision for SunContract in the next 5 years, and what crucial turning points are you intending to accomplish?

Looking ahead, I picture an extremely intense and appealing future for SunContract, real to our bright name. Our main objective is to end up being an international energy market (GEM), broadening into different markets worldwide. This growth lines up with our preliminary vision and will build on our present offerings. Presently, we have a prospering P2P energy market, and we prepare to present extra energy services supporting sustainability and self-sufficiency.

Over the next 5 to 7 years, I think SunContract has the prospective to attain substantial development, success, and included valuees for our neighborhoods. Among our essential turning points is to develop SunContract as a ‘unicorn’ in the market.

Conclusion: altering the landscape of renewable resource.

As we pertain to an end of our conversation with Mr. Gregor Novak, it appears that SunContract is actively altering the landscape of renewable resource.

SunContract provides an appealing check out a future where everybody will have access to tidy, cost effective, and sustainable power as it pursues recognizing its objective of developing a worldwide energy market.