Our iteration of web3 for renewable energy

As the power grid moves from a top-down centrally managed system to a bidirectional market with many more assets at the grid edge, coordination becomes key. As the blockchain technology matures, it becomes more versatile to the point that it can be replicable in any geography and can realistically offer borderless interactions. Despite the numerous potential benefits of blockchain solutions already in the power sector, new applications with user-friendly interfaces are needed. Our purpose has always been to utilize to the best of our ability the data obtained from renewable systems and automatize, standardize, and support predictive maintenance to reduce downtime, human interaction and inform changes across organizational levels.

As we transition towards a web3 era, our secondary motivations will be to expand outlets for data-driven renewable energy economy. In lieu with the current market systems relating to voluntary carbon markets, our focus will be to introduce eco-friendly green activities and allow individuals to participate directly or indirectly in the energy transition. Opportunities can rise in efforts to connect players in the traditional energy market and industry with individuals who wish to engage in clean energy - to localize as well as decentralize and democratize energy and expand to outer boundaries of the energy grid. M2M connections that add data autonomously to the ledger in real-time can form the basis for creating energy certification or proof of actions across value chain and across various iterations of voluntary carbon-neutral activities.

Lastly, STO and its application to the renewable energy processes will remain a viable option to be elaborated upon, pending further clarifications to regulatory requirements and standards. Our hope is that these incremental investments to technological maturation and optimization of energy-blockchain integration can spur more individual-level interactions and participation in the otherwise relatively secluded industry sector. This foundation and vision will hope to be translated to new innovative services to be released in the coming months.

Use-cases

1. redi dr

redi dr is a simulation-to-earn web3 platform that transforms real-world renewable energy data into digitalized forms of solar power economy for participants in the redi ecosystem. As a web3 experience that is open to everyone, even those who do not actually own and/or participate in the traditional RE ecosystem, have the ability to operate a digitalized clone of actual solar power plants to optimize strategies to gain rewards during the period of simulation.

Specifically, dr incorporates actual renewable energy data that is consolidated within the redi infranet blockchain ecosystem, and transforms them into digital solar assets to be selected by users who wish to experience the daily operations and management of solar power productions in a decentralized space. Users can engage in the everyday activities to oversee and optimize daily power production, which in many markets around the world, the energy produced in solar power can be sold, traded, and transmitted in the daily energy market for the highest monetary value - the more energy produced, the higher the returns. Some of the actual economic activities that are mirrored within the dr simulation includes:

• real-time tracking of day-to-day solar energy production

• assessment of solar output efficiency (historical & regional comparative analysis)

• on-site mechanics and periodic technical due diligence

1. NFT, staking, and buyback

Our unique approach in redi dr is the introduction of REC-NFT, which translates to the digital format of the Renewable Energy Certifications that is distributed to renewable energy participants in the traditional energy trading markets. REC-NFT is our method to reward users for participating in the abstract renewable energy trading market that is the redi dr. While the points are accumulated through active participation, users have the ability to exchange the points into REC-NFT, and thereby use the NFT with various options allowed to them such as in staking and buyback features. NFT, staking, and buyback options are evidently the mediating mechanisms that connect traditional energy trading methodologies to the web3 interactive features that are so common and natural to web3 participants.

1. marketplace

As with the features available in the traditional monitoring systems, redi dr also mirrors the points system and particularly its features for exchanging redi points with fiat. Specifically, the redi dr offers a separate level of redi token transactions by allowing a marketplace feature to buy and sell the REC-NFT aforementioned. This method is the pinnacle of allowing for the digitalized interaction between web3 participants by using traditional methods of solar economics.