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 solar panels.

The crypto space has always been criticized for its energy consumption and irresponsible use of power. Due to this, several prominent blockchains, such as Ethereum, have moved away from energy-intensive verification modes to more environmentally friendly options over the years, making crypto and blockchain more appealing to the energy-conscious public.

Among the projects that are making an effort for the environment is SunContract. Solar Contract is an energy trading platform that operates at the intersection of blockchain and renewable technology. After releasing its first whitepaper in 2017, the startup conducted a successful ICO and launched the world’s first nationwide P2P energy trading marketplace.

Having consolidated its position in Slovenia, SunContract has acquired electricity licenses in Croatia and Estonia to expand its reach in line with its vision of becoming a global energy market. SunContract is also developing new disruptive services, the latest of which is the world’s first Personal Power Plant (PPP). NFT Marketplace 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. This facility, built in 2011 and generating electricity consistently since then, boasts a peak power of 517 kW and consists of 2112 solar panels.

Overview

Company: Solar Contract

Token Ticker: SNC Token

Blockchain: Ethereum

Sector: Renewable Energy

Business model: Tokenization of solar panels into NFTs

SunContract NFT Marketplace

At 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 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 reap the benefits of a specific solar panel, addressing the challenges faced by those committed to the green transition who want to invest in the cleanest energy sources.

Benefits

• This NFT purchasing service will allow the holder of an NFT to own their renewable energy source, which is harnessed 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 receive income in SNC tokens from the energy produced, resell the NFT, or use the energy for their home or business (this functionality has not yet been introduced in countries where SunContract holds energy permits or licenses, starting with Slovenia, Croatia, and Estonia, with more to come). This is how owners can reap the benefits of this ownership.
• O SunContract NFT Marketplace makes the investment in solar panels liquid and tradable.
• This new blockchain-based energy service simplifies the process and provides opportunities for communities to become more deeply involved in the transition to green energy.
• NFT holders can monitor the energy of their “Personal Power Plant” simply by using their smartphone.
• Users who will directly use the generated energy do not need to have a physical solar power plant on their own roof. Solar energy is also available for use by those who do not have their own roof.
• The NFT owner does not need to worry about the maintenance and insurance costs of the solar panels associated with their NFT.
• The profits from the sale of NFTs will be used to set up other farms and their tokenization. This is how more renewable energy is provided and used instead of fossil fuels.
• This is one of the first connections of an NFT token to real assets using blockchain technology, and is the first of its kind in the energy sector worldwide.

How it works and the role of SNC tokens

SunContract’s first tokenized solar farm in Višnje.

Each NFT in the SunContract project connects to a solar panel that actively generates clean, renewable energy on a daily basis. With their collection of NFTs, users can make 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 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 as SNC tokens after a 20 percent deduction for expenses for insurance and maintenance of the solar panels. Settlements are processed daily with a 7-day delay.

Those SNC Tokens provide users with multiple options. Users can utilize these tokens to purchase more NFTs or pay their electricity bills (in countries where this is supported). Users also have the option to cash out SNC tokens and either cash out or hold 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 by the underlying solar panel will be sold on your behalf through SunContracts’ P2P energy marketplace in exchange for SNC tokens. After deducting the related operations and maintenance fees, these SNC tokens will be deposited into your wallet on the SunContract platform.

Level 2: This stage of the project will consist of enabling NFT holders in countries where SunContract has acquired energy permits or licenses (for now Slovenia, Croatia and Estonia) to directly use the energy produced by their NFT-linked solar panels for personal consumption 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 this an easy and liquid endeavor, as these NFTs can be bought and sold at any time on the platform.

Collections

Three collections have been released so far, with the first and largest being SunGenesis. SunGenesis, SunContract’s inaugural NFT collection, showcases real-world solar panels from the village of Visnje in Slovenia that generate 517 kW of renewable energy.

The second and third collections are SunVista—Eclipse and SunVista—Actum. Each sold out in a matter of days. The final mini collection, SunVista—Primoridum, is coming soon.

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

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

Interested users can request exclusive NFT alerts at NFT webpage.

Major milestones and achievements

In 2017, SunContract released 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 retail peer-to-peer energy marketplace.

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

In 2021, they updated the platform to support energy self-sufficient villages.

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

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

Plans

Solar Contract is actively expanding into new markets, establishing companies and starting operations in other countries. The project is exploring the integration of NFT technologies and investigating potential markets. Plans include expanding its reach into 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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