Rowan Energy Blockcahin
Building Community Fed Green Energy Companies
We want to turn the energy market on its head, with a blockchain-driven decentralized energy community. We wanted to build a new kind of blockchain that is truly decentralized. Within our energy community, our customers validate the energy transactions and are rewarded for their contribution to the community. We want to achieve this whilst at the same time encourage people to buy green energy and also have solar installed to produce their own green energy. Using a custom-built Proof of Authority (POA) blockchain our members will be able to trade their electricity with other consumers peer to peer and in almost real-time. Our energy supply is generated primarily by our own customers, any extra energy requirements will be bought wholesale from other renewable sources, giving us the buying power of a large customer base allowing us to negotiate excellent deals. In the UK current feed-in tariffs vary between 0.03p per KW/h to 0.055p per KW/h. Other energy companies have to buy REGO (Renewable Energy Guarantees of Origin) Certificates in order to sell their solar-generated energy back to the grid. But by tokenising the process our customers can see in almost realtime where their energy is coming from. This gives us a saving of 15p per MW/h, plus by tracking our energy back to the renewable source we can also tokenise ROCs (Renewable Obligation Certificates) bringing in an extra £47.70 per MW/h. These savings can be passed back to our customers. Peer to peer trading between our customers takes place automatically by our infrastructure matching sellers with buyers of energy based on their location. Picking the closest producer to the consumer making the energy truly local. This gives maximum returns to the producer with payments also being made instantly a vast improvement to the current system that can see solar owners rewarded for their energy in up to 6 months. All these transactions happen using Rowen tokens with consumers buying tokens to buy their energy from local rooftop producers. The more customers we sign up, the more the demand for our tokens. Rowan has built its own Proof of Authority blockchain. We decided to go down this route in order to build a low powered and therefore low-carbon solution. We wanted to have control of the software side in order to scale the chain as we need, and not relying on the developers of other public chains. This is also now an asset that makes Rowan more valuable. It's also attractive to other Energy Suppliers to use as it's private and meets carbon targets.