THE BLOCKCHAIN-BASED RENEWABLE ENERGY PLATFORM

kingdavid-7 (8)in #ethereum • 6 years ago

This platform provides comprehensive solution to the numerous problems we are faced with in the electrical power sector, it primary goal is to eradicate all cumbersome loads of inconveniences caused by absenteeism of adequate power supply in the industrial sector, educational and religious sector. The overview of this electrical power supply provider “Etainpower” powered by blockchain is to assure that domestic and industrial needs for electric power are met. It intends to enhance the stability of electrical power supply and eliminate the problems we are faced with in the electric power sector. Let scrutinize conventional fossil fuel as a source of power generation, conventional fossil fuel generates cut-rate electricity for humanity; it also causes irreversible pollution and harm to our environments. Recently, the world’s international powers have begun to realize these problems caused by the consumption of conventional fossil fuels, such as global warming and pollution, governments have issued polices to enhance the improvement of renewable energy projects; hence the reason for “Etainpower” as an ultimate solution to the aforementioned problems.

WHAT IS ETAINPOWER?
EtainPower is a blockchain based renewable energy financing platform, powered by Artificial Intelligence through blockchain technology and smart contract, EtainPower is aiming to tokenize the renewable energy revenue. It also offers tremendous supports towards the acquisition of renewable energy productions to complete the project financing. EtainPower will build a decentralized financing ecosystem with an aim to reduce the financing cost while enhancing efficacy for project financing and thereby promote the development of renewable energy financing.

SOME COMMON PROBLEMS IN THE ELECTRIC POWER SECTOR
Even though renewable energy has made rapid development in recent years, it still face some critical issues like, project difficulties for a renewable energy producer, lack of investment channels and risk of return for the investors and current power grid facilities need to upgrade.

WHAT ARE THE SOLUTIONS TO THESE PROBLEMS?
Etainpower power have the ultimate solutions to these problems. The Etainpower leadership teams has decades of experience in renewable energy and power grid design and management inspired by decentralization, transparency, and democracy of blockchain. Etainpower embarked on a mission to solve the financing difficulty of renewable energy projects. Using innovative Artificial Intelligence (AI) and other technologies, Etainpower is working to optimize the connecting systems between renewable energy sources and the power grids. By minimizing the impact of frequency fluctuation and improving the safety and stability of grid operation, Etainpower eliminate the impediments that stand of the way of renewable energy project development. Also, the problems can be solved can be solved through the application of energy token, diversify investment return and power grid intelligence.

PROJECT DEVELOPMENT
Etainpower will launch its pilot project in Antigua and Barbuda as a proof of concept. Antigua and Barbuda is a sovereign country of the Americas, located between the Caribbean Sea and the Atlantic Ocean, and is made up of two major islands and some affiliated Islands. See the map below;

THE DEVELOPMENT OF THIS PROJECT WILL TAKE PLACE IN THREE STAGES.
• First Stage (Through Q1 2019): The first stage is to launch the blockchain based renewable energy financing platform.
• Second Stage (Q2 2019 – Q1 2020): At this stage, Etainpower team will focus on platform optimization to launch a series of application services for PPS holders. During this period, the first batch of renewable energy projects financed on the platform will complete construction and commence generating electricity.
• Third Stage (Q2 2020 & beyond): At this very stage, Etainpower will commence working with power utility companies to upgrade existing power grids. Utilizing Blockchain, Artificial Intelligence and Smart Grid with improved efficacy, transparency and equity between parties.

ETAINPOWER APPLICATION OF ECOSYSTEM
According to the project plan, EtainPower ecosystem will include services other than renewable energy project financing. The first services available on the EtainPower platform are listed below. Early PPS holders can use PPS to pay for these application services. In the future, as the platform is more widely adopted, the ecosystem will expand to include more application services based on the demand of users.

P2P Power Trading
Peer-to-peer power trading will enable PPS holders to directly purchase electricity from nearby renewable energy producers at lower than market price. PPS holders can transfer PPS to renewable energy producers through the EtainPower platform, and the smart contract will ensure that PPS holders are delivered the electricity service they purchase. The benefit for renewable energy producers is the ability to sell any overgenerated electricity to the end user directly, reducing transaction costs to increase return on investment.

Electric Vehicle Rental
PPS holders can rent electric vehicles on the EtainPower platform, which will manage the entire process from online booking, vehicle pick-up and return, and rental payment. This decentralized process does not require any human assistance from the car rental company, so PPS holders can complete the whole process all by themselves. After the car is returned, the smart contract will automatically complete the transfer of PPS for payment.

Electric Vehicle Charging
This application allows PPS holders to charge their electric vehicle at any charging station within the EtainPower ecosystem. The EtainPower platform will manage the meter reading, data collection and token transaction.

Power Transaction for Conventional Power Utility
EtainPower will install power terminal controllers for PPS holders to monitor their electricity consumption. When purchasing electricity, transactions will be automatically completed between PPS holders and power utility through a smart contract. The first services available on the Etainpower platform are shown in the figure below.