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The 411: Investment Opportunity - Utilizing Cryptocurrency to Buy and Sell Energy
Found on: https://www.startengine.com/power2peer
It’s time for a new approach. At Power2Peer, we believe that everyone deserves access to clean, reliable sources of energy. Across the country, demand for sustainable energy systems is constantly growing, as blackouts become more frequent each year. Globally, billions of people remain in the dark, dependent on poorly maintained infrastructure. Worse still for the environment are the billions more who rely on carbon-intensive fuel sources to power their lives.
Between the surging potential of renewable energy sources like wind and solar to address these issues, and the revolutionary power of blockchain technology to decentralize, we identified an opportunity to harness the force of the free market for the good of all. So we developed a way to bring solar power to the people: an adaptive solar microgrid system with blockchain-enabled peer-to-peer trading. With decentralized power, communities—and those who invest in them—win. While energy blockchains are not a new concept, we believe the following points of differentiation show how Power2Peer’s approach differs from other energy blockchain platforms:
- Disruptive business model which decentralizes power ownership – an Airbnb of power systems – connecting solar power producers with consumers using blockchain smart contracts and an easy-to-use mobile app – “P2PConnect”
- Blockchain technology enabling the first ever Secure Software Defined Adaptive Controller for creating resilient solar power systems
- Use of advanced Photonic Solar Conversion technology for building the most efficient solar microgrids (18% -> 28%)
- Decentralized power granting energy independence for individual solar power owners
- Creating jobs and improving the local economies of underserved and depressed regions by building an energy economy for all.
Power2Peer is combining blockchain technology with adaptive (“smart”) and super-efficient solar microgrids to create a marketplace where energy can be bought and sold by anyone. Rather than sending energy back to the grid at a fixed rate, solar producers can sell energy to their neighbors at fair market value. With this decentralized solution, individuals and communities will enjoy a more resilient grid, lower energy costs, and a lower carbon footprint. By taking a small fee from each transaction and for connecting microgrid networks, Power2Peer will demonstrate a business model that is sustainable financially and environmentally, stimulating local economic growth along the way.
Power2Peer has developed a Minimum Viable Product - the P2PConnect App for the demonstration of integrating an Ethereum blockchain platform with a front-end mobile user interface and a back-end software-defined smart controller which in turn connects to solar microgrids. The P2PConnect App is a functional demonstration only and not a working product yet.
The resilient software-defined controller software platform secured with the blockchain transaction engine is the invention of Power2Peer. We have filed an application for a provisional patent for this technology which we believe will become an important component of resilient solar microgrids.
Power2Peer is also building a solar microgrid in Burlington, MA, to demonstrate the operational efficiency of the proposed "blockchain-enabled resilient solar microgrid."
The demonstration plot will employ 60 solar panels divided into four subgrids of 15 panels connected with a junction box which will use IoT sensors for the generation of power from each subgrid. The junction box will send information to the software-defined network controller for real-time reconfiguration of power grids to demonstrate the effectiveness of the microgrid. The demonstration project will be completed by September 30, 2018.
For us, Power2Peer is more than just business–it’s personal. Our team comes from India and Nepal and has connections to Nicaragua, countries that have in recent years been devastated by natural disasters and the resulting power outages. We know all too well the human costs of our aging electricity infrastructure. We are committed to bringing about an equitable, environmentally friendly solution and encouraging everyone to participate.
And so we turn to you, StartEngine investors. Join our team, and help us empower people to take control of their energy. It’s time for the grid to enter the 21st century. Invest today and help us bring solar power to the people.
A Sustainable Business Model
Power2Peer has the potential to realize ecological and economic sustainability simultaneously.
We will do this by creating a marketplace for clean power, allowing us to generate revenue through small transaction fees for trading energy on the blockchain, the connection of microgrid systems, the sale of solar power, and ElectroToken trading.
Our financial estimates indicate that we will be cash positive and generate up to 63% net profit by the end of the life cycle of one of our systems. If we hit our initial deployment goal of 28 cities generating 1 MW each, there will be a cumulative profit of $76 million over five years with a cumulative cost of power with the subsidy (COGS) of $840,000 and a cumulative cost of installation and operational expenses of $44,140,000.
At the same time, we calculate that our systems will eventually reduce nearly 600,000 metric tons of emissions by more fully utilizing and expanding the usage of solar. To put this into perspective, according to 2016 statistics, US electricity generation is responsible for 1.8 million metric tons of carbon.
Together we can make a big difference while building an economically viable company and reducing carbon emission to save our environment from catastrophe.
Our Brainpower
Power2Peer is powered by some of the top talent in the renewable tech industry.
Dr. Nish Sonwalkar, our founder and Chief Evangelist, was captivated with solar technology as a child growing up in India. He has since devoted over 25 years to the development of innovative technologies, eventually becoming the Principle Research Scientist at MIT before founding Power2Peer.
He is supported by a diverse and experienced team with backgrounds in energy, blockchain, mechanical engineering, and communications. Many of us come from countries and regions without resilient sources of power. As such, we understand intimately the stakes of this work. And we are driven to make our solution a reality.
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