ImpactPPA launched this week, bringing the blockchain to renewable energy finance.
The platform and tokenization model allows SmartPPA users to fund and deploy clean energy solutions by using the crowd and blockchain to manage and track and track generation data with NRG, its new energy token.
A two-token model is being used. MPAQ is a base token used by community members to fund projects. NRG is purchased by energy consumers and is directly coupled to clean renewable energy generation.
ImpactPPA said its SmartPPA provides approximately 16 per cent of the world’s population without a reliable energy source. Users create their own power purchase agreements which are submitted to the blockchain platform for approval and funding.
“The SmartPPA reduces cost and improves efficiency by removing the existing layers of legacy banking and NGO decision making, dramatically reducing the time it takes to get from project funding to energy production,” ImpactPPA said in a statement.
“By leveraging the Ethereum blockchain and smart contracts, anyone in the world can now participate in establishing renewable energy production with secure, transparent transactions.”
“Clean energy production has been stymied by the old, traditional system of energy finance, and with the rise of the blockchain and decentralization we can now take the control of energy projects out of the hands of an old bureaucratic system and empower individuals and communities, leading to lasting positive change,” ImpactPPA CEO Dan Bates said.
“Off-grid, distributed solutions are the future of renewable energy production and a huge step forward in mitigating climate change. ImpactPPA is leading the way with our scalable model, leveraging the most groundbreaking technologies available today.”