The future of energy is solar energy, and SolarLux is here to assist entities that produce and champion solar energy in getting more benefits through SolarCoins

In one conversation, Ursus Negenborn, the co-founder of Hong Kong-based SolarLux spilled about how the company ushers the solar-based future with SolarCoins currency.

With operation in few countries including Southeast Asia in particular Thailand, SolarLux has been a shotgun for companies that exist to make the environment more sustainable with solar energy. The company provides itself to be the advisor of how best to acquire SolarCoins, solar energy-generated blockchain.

What is SolarCoins

“It’s a game changer,” said Negenborn. In SolarLux’s site, the explanation about SolarCoins’ concept is broken down as blockchain-based tokens issued into circulation when solar energy is verified to have been produced.

In doing the transaction, SolarCoins are available among peers with them being collected, verified, and summarized in blocks – creating the SolarCoin blockchain. Just like the classic blockchain, SolarCoins become the decentralized, incorruptible, and auditable record of solar energy produced.

“The main idea is to reward solar producers with this additional incentive. This makes it the first energy-referenced currency ever existed,” explained Negenborn.

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The low carbon blockchain token (SLR) is exclusively granted to solar installation owners. This, in turn, provides cash value and has the potential to reduce solar financing cost within the solar industry and beyond.

The SolarCoin Foundation rewards solar energy producers with blockchain-based digital tokens at the rate of 1 SolarCoin (SLR) per 1 Megawatt Hour (MWh) of solar energy produced. The additional and independent rewards can be claimed retroactively back to January 1, 2010, and can be claimed on an ongoing basis for future production.

The blockchain system can be utilised by almost every sector, from government subsidies, feed-in tariffs, green certificates, tax incentives, carbon credits, the list goes on.

Global energy heroes

SolarCoins, as it has been explained before, will reward whoever produces solar power and in result helping to avoid CO2 emissions.

Today, SolarCoins have cash value and are already used for payments. It can also be swapped into any other currency.

With its noble and effective mission, the network is still relatively small now. Some first industry players are starting to adopt SolarCoin, and this where SolarLux enters the picture.

“With almost everything being regulated with blockchain for more transparency, we started almost four years ago, and my co-founder, Thomas, was the one who brought me in,” said Negenborn, who has a full-time job as a corporate lawyer.

Negenborn highlighted Thomas Chrometzka, who happened to have the experience in the solar energy industry for ten years. “For him, it came naturally, and when he invited me, I just thought it’s a great idea, given my law background,” Negenborn added.

At the time the light bulb was lit, both Chrometzka and Negenborn noticed that the SolarCoins’ premise could use some help, especially with infrastructure and creating a network around it.

“So we just thought we could professionalise the service, given that Thomas understands how solar energy distribution work and myself to give law assistance. We proceeded to have a functioning platform to fully support SolarCoins, and reached to players in the energy industry,” explained Negenborn.

To date, their lists of clients include the Dubai-based Acwapower that leads in water energy, Germany-headquartered SMA that specializes in photovoltaic system technology, and Bangkok-based Symbior Solar that provides a one-stop solution for development, financing, implementation, and operation of state of the art solar PV installations in Asia.

“Partnering with these companies, we are able to tap into smaller players who are currently within their networks and extend SolarCoins’ benefit to these solar energy providers as well,” said Negenborn.

Unblock the Road

Negenborn further explained that SolarLux is at a full-support to essentially guide solar energy companies and producers to claim their SolarCoins.

“We realized that even though blockchain is everywhere and almost everybody has understood how it works, there’s still fear for the unknown parts of it. Like how it works, the implication, as well as the utilisation,” said Negenborn.

SolarLux provides assistance in advising these companies on how to get a start in SolarCoins and claim what is already theirs.

“I personally feel that by doing this, we are helping out the otherwise not well informed solar energy providers, and knowing that there’s a system made for them to be rewarded for their environmental work,” said Negenborn.

When being asked if this is a passion project for both co-founders, Negenborn emphasized the fact that it is. “Definitely, but it’s not at all a side job. Our first impulse in creating SolarLux was nothing to do with money. We measure our success by the growth we can see in the ecosystem. It was worth it.”

Anyone producing solar energy can come to SolarLux for a discussion. “Usually people see us in convention or read about us from somewhere,” Negenborn explained.

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SolarLux then will calculate the energy the entity has produced, and they will be eligible to receive SolarCoins backdated to 2010. But in this stage, it will be up to the solar producers to continue registering themselves for SolarCoins’ wallet, or leave it all in SolarLux’s hand.

SolarLux gives technical perspective to facilitate basic understanding and legal framework within the SolarCoins ecosystem, and this is especially effective in a certain country where the companies don’t have local expertise that can hook them with SolarCoins.

If the solar producer decided to go along with SolarLux’s service, SolarLux will take care of their documents, registration, SolarCoins’ introduction, and wallet setup.

With this approach, SolarLux fills the gap in the market and becomes the connector for the solar producers and the cryptocurrency. The mission now is for SolarLux to building the SolarCoin ecosystem, making SolarCoin the first energy backed global currency.
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Image Credit: SolarLux

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