Exploring energy efficiency through NFTs

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SunContract, a blockchain-based energy trading platform, is pioneering the world’s first NFT marketplace for real-world solar panels.

The cryptocurrency industry has always been criticized for its energy consumption and irresponsible use of energy. For this reason, several leading blockchains, such as Ethereum, have over the years moved away from energy-intensive verification methods to more environmentally friendly options, making cryptocurrencies and blockchains more attractive to the energy-conscious public.

Among the projects that make an effort for the environment is SunContract. Solar contract is an energy trading platform operating at the intersection of blockchain and renewable technologies. After publishing its first whitepaper in 2017, the startup conducted a successful ICO and launched the world’s first nationwide P2P energy trading marketplace.

After consolidating its position in Slovenia, SunContract has acquired electricity licenses in Croatia and Estonia to expand its reach, in line with its goal of becoming a global energy marketplace. SunContract is also developing new disruptive services, the latest of which is the world’s first Personal Power Plant (PPP) NFT Market for real-world solar panels.

The inauguration of the project solar farmwhich has been tokenized, is located in the village of Višnje near Ajdovščina, Slovenia. The facility, built in 2011 and producing electricity continuously since then, has a peak capacity of 517 kW and consists of 2,112 solar panels.

Preview

Business: Solar contract

Token symbol: SNC Token

Blockchain: Ethereum

Sector: Renewable energies

Business model: tokenization of solar panels into NFTs

SunContract NFT Marketplace

In the SunContract NFT MarketplaceEach NFT represents a specific solar panel from the solar farm, and the NFT holder is entitled to the benefits of the particular underlying solar panel.

Owning an NFT token allows you to create a “Personal Power Plant”, a unique concept introduced by SunContract. It allows individuals to benefit from the advantages of a specific solar panel, thus addressing the challenges faced by stakeholders engaged in the green transition and wishing to invest in the cleanest energy sources.

Benefits

• This NFT purchasing service will allow the holder of an NFT to become the owner of their renewable energy source, exploited in the cleanest way possible: from the sun.
• By purchasing NFTs, anyone can own a digital asset representing a real solar panel that produces electricity. The owner can earn income in SNC tokens from the energy produced, resell NFTs, or use the energy at home or in their business (this feature has not yet been introduced in countries where SunContract has energy permits or licenses, starting with Slovenia, Croatia, and Estonia, with more to come). This is how owners can enjoy the benefits of this property.
• THE SunContract NFT Marketplace makes investing in solar panels liquid and tradable.
• This new blockchain-based energy service simplifies the process and offers communities the opportunity to engage more deeply in the green energy transition.
• NFT holders can monitor the energy of their “personal power plant” simply by using their smartphone.
• Users who directly exploit the energy produced do not need to have a solar power plant on their own roof. Solar energy is therefore also available to those who do not have their own roof.
• The NFT owner does not have to worry about the maintenance and insurance costs of the solar panels associated with his NFT.
• The profits from the sale of the NFT will be used to create more farms and tokenize them. This is how more renewable energy will be provided and used instead of fossil fuels.
• This is one of the first connections of an NFT token with real assets using blockchain technology, and it is the first of its kind in the energy sector globally.

How it works and the role of SNC tokens

SunContract’s first tokenized solar farm in Višnje.

Each NFT in the SunContract project is tied to a solar panel that generates clean, renewable energy daily. Through their collection of NFTs, users can create their own “personal power plant.” All underlying solar panels are maintained and insured to ensure optimal performance, and the project handles any necessary replacements.

The energy produced by the underlying solar panels is sold on the SunContract P2P energy marketplace.

The company’s revenue from this sold energy is deposited directly into users’ wallets in the form of SNC tokens after a 20% deduction of expenses for insurance and maintenance of solar panels. Settlements are processed daily with a 7-day lag.

These SNC Tokens Users have several options to choose from. They can use these tokens to buy more NFTs or pay their electricity bills (in countries where this option is supported). Users also have the option to withdraw SNC tokens and cash them out or hold them for future benefits. Users can sell some or even all of their NFTs if they need liquidity.

Project Phases

Phase 1: The energy generated by the underlying solar panel will be sold on their behalf through SunContracts’ P2P energy marketplace in exchange for SNC tokens. After deducting operating and maintenance costs, these SNC tokens will be deposited into their wallet on the SunContract platform.

Phase 2: This phase of the project will allow NFT holders in countries where SunContract has acquired energy permits or licenses (currently Slovenia, Croatia, and Estonia) to directly use the energy produced by their NFT-linked solar panels for their personal consumption at home or in their business. This approach aims to democratize renewable energy and make it accessible to everyone, including those who live in apartments. It also makes it an easy and liquid activity, as these NFTs can be bought and sold at any time on the platform.

Collections

Three collections have been launched so far, the first and largest being SunGenesis. SunGenesis, SunContract’s first NFT collection, features real-world solar panels from the Slovenian village of Visnje, which generate 517 kW of renewable energy.

The second and third collections are SunVista-Eclipse and SunVista-Actum. Each sold out within days. The last mini-collection, SunVista-Primoridum, is coming soon.

Each NFT in all collections features an image representing heroes and different universes from an exciting story that will be revealed in future Solar Panels NFT collections. This is the world’s first tokenization of a story into an NFT. Each NFT offers benefits related to real-world solar panels and grants ownership of a part of the story. The catch is that the full story will remain top secret, forcing the community to embark on an adventure to uncover its secrets.

New collections will also be introduced, further expanding the opportunities for individuals to participate in sustainable energy initiatives.

Interested users can request exclusive NFT alerts on NFT Web Page.

Key milestones and achievements

In 2017, SunContract published the first white paper on a peer-to-peer energy marketplace, followed by a successful initial coin offering.

In 2018, the company launched the first nationwide peer-to-peer retail energy marketplace.

In 2019, SunContract expanded into Estonia, acquiring a license to operate as a custodian of cryptocurrency wallets.

By 2021, they have upgraded the platform to support energy-autonomous villages.

Recently, the company expanded its services to Croatia, laid foundations in Estonia and opened an office in Malta.

In 2024, the NFT marketplace with the first tokenized solar farm was launched.

Plans

Solar contract SunContract is actively expanding into new markets, establishing companies and starting operations in other countries. The project is exploring the integration of NFT technologies and studying potential markets. Plans include expanding the reach in Europe and other international regions, aiming to establish SunContract as a “unicorn” in the industry.

Users interested in SunContract’s solution to democratize access to renewable energy can visit its website and social media channels for more information.

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