SunContract is a blockchain-based energy P2P trading platform with more than 11.000 active users in Slovenia. It offers direct selling of renewable energy without the need for intermediaries, as well as advanced functions like monitoring one’s energy data on a daily, weekly, or monthly basis. It is possible to fund the platform via a SEPA transfer or by buying SNC tokens.
The company has so far partnered with local communities by equipping retiree homes with solar panels. They expect that their investment will pay off in approximately 8 years (with government subsidies on renewables even earlier) while providing the buildings with energy for prices between 800 and 900 EUR per kilowatt. The future vision of the company is to expand to more countries and enable citizens of different countries to sell their energy across borders.
THE NEED FOR DECENTRALIZATION
The energy transition needs to accelerate if we wish to properly tackle global warming. One of the obstacles are centralized energy systems. As in other industries, it is likely that consumers will push for disruption which could result in P2P energy trading becoming a key catalyst for change in the future energy landscape as per Deloitte Netherlands. The International Renewable Energy Agency (IRENA) confirms this in its latest report on P2P trading by emphasizing that not only does P2P trading make renewables more accessible but also makes better use of their resources and keeps communities more resilient to outages. It also has the potential to reduce user’s energy bills through monetisation of excess energy, as well as from benefiting from low-cost energy supply on the buyers’ side.