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International Conference on Innovative Applied Energy    

E-Proceedings ISBN: 978-1-912532-05-6

14-15 March 2019, Oxford, United Kingdom



Tokenizing Data for Solar Home Systems: Challenges and Applications



Veronica Garcia

Bitlumens, Gotthardstrasse 26, 6300 Zug, Switzerland



Paper Abstract

This paper describes the application of blockchain technology in solar home systems (SHS) and photovoltaic (PV) microgrids for data attestation, verification and ultimately transparency. Smart grid deployment is supported by the digitalization of the electricity system for the achievement of goals on the “grid edge” such as the integration of electric vehicles (EV), renewable technologies and energy storage. The deployment of such systems relies on an efficient data infrastructure which cannot be compromised by any single entity while supporting authenticity, customer privacy and commercial secrecy. Blockchain infrastructures can be applied to off grid solar systems, also to promote financial inclusion in rural communities. SHS are popular in rural communities and their evolvement is particularly noticeable in Sub-Saharan Africa (SSA). However, in Latin America there are a large number of Non-Conventional Renewable Energy Resources (NCRES) which can be exploited to address energy security and power reliability. This paper focuses in the economies of Honduras, Nicaragua and Panama as potential areas for off grid polycrystalline Photovoltaic (poly-Si PV) system deployment.

Solar technologies can be paid using a Pay-as-You-Go system leveraging on the latest state of the art digital technologies. Load profiles will appear in a peer to peer (P2P) network along with the Know your Customer (KYC) of each user applying a private and a public blockchains. Users can receive microcredits and remittances for PV installations through Bitlumens tokens to unlock the devices and electrify their houses. In addition, a peer to peer network will allow users to trade their surplus power capacity.  

Currently, little attention is given to test the value of a token in a closed economy to provide electricity and a financial track record to its users. This paper develops a simple partial equilibrium market model to capture the economic forces that could influence the token demand in primary and secondary markets. As a whole, in order to provide conditions for the tokenization of data while having transactions on the blockchain, more attention should be given to valuation methods to identify cost reductions of payment and settlements while analyzing how users can have access to their data in a transparent and yet secure way.

Paper Keywords
Blockchain, tokens, PV, Renewable technology, fintech
Corresponding author Biography

Veronica Garcia was an investment consultant at Credit Suisse and UBS for Latin American Asset Managers. After finishing her graduate studies at the ETH in Zurich she joined IBM Research Lab. She also worked as a consultant for the World Bank, IADB and Castalia. Her research focused on renewable technologies and on quantififying investment needs to reach the country targets for renewable power generation. In 2017 she founded BitLumens which brings solar power and water to rural areas in developing countries using Internet of Things (IoT) and blockchain technology.

The International Conference on Innovative Applied Energy (IAPE’18)