EmPOWRing Renewable Energy: Power Ledger, Blockchain, and a Sustainable Future

POWR is the tradable token coming from Power Ledger, a blockchain venture that is democratizing renewable energy.

What is Power Ledger?

Power Ledger enables peer-to-peer energy trading. If your house has solar panels, their platform lets you sell your excess energy to your neighbors, and get paid as soon as your power hits their home. You won’t have to deal with billing them every 60 days like a traditional energy company — chances are, you’ll have no idea who the buyer even is. Hello, passive income.

Power Ledger is all about getting the public more involved in renewable energy growth. As an added bonus, their token holders get to invest in wind, solar, and battery farm development projects.

It’s like if Uber and Kickstarter had a baby, and that baby is saving the planet.

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Why was it created?

Today, households with solar panels can sell their excess energy to a utility company, which then sells it to others at a profit. The energy goes back to the grid, and could travel pretty far before it reaches its final destination.

So the seller is losing money, and the utility company is losing energy.

Power Ledger snips out the middleman and lets solar panel owners sell their energy to the customers nearest to them — so the energy doesn’t have to travel as far.

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Where does POWR get its value?

POWR is the fuel of the Power Ledger ecosystem, and is essential in accessing their platform. The company has an additional token, Sparkz, which has a fixed price tied to the local fiat, and is used in the energy transactions.

As solar panels become more ubiquitous, many homes are becoming energy self-sufficient, leading them to ditch utility companies, their grids, and their high fees. With Power Ledger, utility companies can purchase POWR, convert it to Sparkz, sell Sparkz to their customers, and onboard them onto the Power Ledger platform. That way, they can offer cheaper energy, while keeping customers on the grid. This boosts demand for POWR.

POWR is also the token used to invest in renewable energy development projects around the world. As more individuals and entities get in on these projects, demand for POWR will rise.

How can I buy POWR?

Buy Ethereum or Bitcoin on Coinbase, then exchange it for POWR through Binance.

 

Written by Crypto 101 contributor Roni Rose

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