Energy Efficiency Testing with NFT

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

The crypto space has always been under fire for its energy consumption and irresponsible use of it. For this reason, several prominent blockchains, such as Ethereum, have moved away from energy-intensive verification modes in favor of more environmentally friendly options over the years, making cryptocurrencies and blockchains more attractive to an energy-conscious public.

Among the projects that take action for the environment is SunContract. SunContract is an energy trading platform operating at the intersection of blockchain technology and renewable energy sources. After releasing its first whitepaper in 2017, the startup conducted a successful ICO and launched the world’s first domestic P2P energy trading market.

After strengthening its position in Slovenia, SunContract acquired electricity licenses in Croatia and Estonia to expand its reach, fulfilling its goal of being a global energy marketplace. SunContract is also developing new groundbreaking services, the latest of which is “Personal Power Plant” (PPP), the world’s first NFT marketplace for real solar panels.

The project’s first tokenized solar farm is located in the village of Višnje near Ajdovščina in Slovenia. Built in 2011 and generating electricity continuously since then, the facility boasts a peak power of 517 kW and consists of 2,112 solar panels.

overview

Company: SunContract

Token symbol: SNC token

Blockchain: Ethereum

Sector: Renewable energy

Business Model: Tokenizing Solar Panels into NFTs

SunContract NFT Market

In the SunContract NFT marketplace, each NFT represents a specific solar panel of a solar farm, and the holder of the NFT is entitled to the benefits of owning a specific, underlying solar panel.

Owning an NFT token enables the creation of a “Personal Power Plant,” a unique concept introduced by SunContract. This allows individuals to benefit from a specific solar panel, solving the challenges faced by those involved in the green transition who want to invest in the cleanest energy sources.

Benefits

• With this NFT token purchasing service, NFT token holders will become owners of their own renewable energy source, obtained in the cleanest way possible: from the sun.
• By purchasing an NFT, anyone can own a digital asset representing a real-world solar panel that generates electricity. The owner can receive revenue in SNC tokens from the energy produced, resell the NFT, or use the energy in their home or business (this functionality has not yet been rolled out in countries where SunContract holds energy permits or licenses, starting with Slovenia, Croatia, and Estonia, with others coming soon). In this way, owners can enjoy the benefits of this ownership.
• SunContract’s NFT marketplace makes investing in solar panels liquid and tradable.
• This new blockchain-based energy service simplifies the process and empowers communities to engage more deeply in the green energy transition.
• NFT holders can monitor the energy from their “Personal Power Plant” using their smartphone.
• Users who will directly benefit from the generated energy do not need to have a physical solar power plant on their roof. Solar energy is therefore also available for use by those who do not have their own roof.
• An NFT owner does not need to worry about the maintenance and insurance costs of the solar panels associated with their NFT.
• The proceeds from the sale of NFTs will be used to establish other farms and tokenize them. This way, more renewable energy is provided and used instead of fossil fuels.
• This is one of the first connections between an NFT token and a real asset using blockchain technology and the first of its kind in the energy sector in the world.

How it works and what role do SNC tokens play?

Each NFT in the SunContract project connects to a solar panel that actively generates clean, renewable energy every day. With the NFT collection, users can create their own “Personal Power Plant.” All underlying solar panels are maintained and insured to ensure optimal performance, and the project manages any necessary replacements.

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

The company’s revenue from sold energy is paid directly into user wallets as SNC tokens after deducting 20% ​​of the cost of insurance and maintenance of solar panels. Settlements are processed daily with a 7-day delay.

These SNC tokens provide users with a variety of options. Users can use these tokens to purchase more NFTs or pay their electricity bills (in countries where this is supported). Users also have the option to withdraw their SNC tokens and withdraw cash or keep them for future benefits. Users can sell some or even all of their NFTs if liquidity is needed.

Project Phases

Phase 1: The energy generated from the primary solar panel will be sold on their behalf through the SunContracts P2P energy marketplace in exchange for SNC tokens. After deducting the fees related to operations and maintenance, these SNC tokens will be deposited into their wallet on the SunContract platform.

Phase 2: This phase of the project will involve allowing NFT holders in countries where SunContract has obtained energy permits or licenses (Slovenia, Croatia, and Estonia, for now) to directly use the energy generated by their NFT-connected solar panels for personal use at home or in their businesses. This approach aims to democratize renewable energy and make it accessible to everyone, including those living in apartments. It also makes it an easy and seamless endeavor, 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 of which is SunGenesis. SunGenesis, SunContract’s inaugural NFT collection, showcases real solar panels from the Slovenian village of Visnje that generate 517 kW of renewable energy.

The second and third collections are SunVista—Eclipse and SunVista—Actum. Each sold out within a few days. The last mini collection, SunVista—Primoridum, will be out soon.

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

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

Interested users can apply for exclusive NFT alerts on the NFT website.

Key Milestones and Achievements

In 2017, SunContract published the first white paper on the peer-to-peer energy market and then successfully conducted an initial coin offering.

In 2018, the company launched the first nationwide peer-to-peer retail electricity market.

In 2019, SunContract expanded its operations to Estonia, obtaining a license to operate as a cryptocurrency wallet custodian.

By 2021, they had modernized the platform to support villages that had become energy self-sufficient.

The company recently expanded its services to Croatia, launched operations in Estonia and opened an office in Malta.

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

Plans

SunContract is actively expanding into new markets by establishing companies and starting operations in other countries. The project is exploring the integration of NFT technology and exploring potential markets. Plans include expanding its reach into Europe and other international regions, with the goal of establishing SunContract as a “unicorn” in the industry.

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