Meet Solarcoin: An Economic Subsidy Coin For The Solar Community

Solarcoin is a cryptocurrency created by the Solarcoin foundation, a group of people that wanted to support the adoption of solar energy all around the world. They thought about the worst impediments that solar adopters could face and decided to start a blockchain based initiative to help adopters cope out with costs, and they devised a plan that would last 40 years to propel solar energy adoption all around the world.
According to their whitepaper, the highest cost of adopting solar energy is that of the hardware and panels required for the initial installation. So they devised a model of work to subsidize this cost by handing down a value of Solarcoins over time that equates to 15% of the power generated.  Each SolarCoin is worth 1MwH of electrical generation. And while the coin is directed to the small generators, big companies can also collect their share to incentivize the adoption and the construction of more solar installations.
Solarcoin uses a system that rewards the generator of solar electricity by reviewing its generation bi-yearly and then reimbursing his correspondent fee. The project actually is a work in progress, because the rewards are too low now to be even considered a subsidy. The team behind this project expects that when it really takes off, the Solarcoin reward will be enough to make a simple homeowner or residential and industrial complexes choose solar energy over other alternatives.
To own Solarcoins you will need to have their official wallet that you can download from their website. You can also have it on an exchange and then trade it to obtain your subsidy. Actually, the most prominent exchange that lists Solarcoin is Bittrex. So if you really believe in solar energy and want to bet on its success in the near future, you can buy Solarcoins. The price at the time of writing is of this article is of $0.40 dollars, but during the last December, it reached peaks of over $2. Summarizing, Solarcoin constitutes a great initiative to help generalize solar energy usage around the world, even if it still too early to measure its success. To know more about it, visit their official website here.

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