Please describe your proposed solution.
Surplusmap.com locates surplus energy and connects power producers and power consumers. This is super important if we are to meet any of the green energy targets and also empower those that have access to local resources to use them effectively.
We are struggling in the USA and Europe to utliise the full capacity of our renewable energy due to grid congestion and lack of infrastructure. This will only get worse as the production of electricity become more and more decentralised.
This problem is compounded in countries across Africa where the electricity grid is underfunded and needs huge investment.
Along with our platform for project development of new sites, building datasets to help in identification of resources we plan to use Cardano to enable a payment system for this micro production of electricity.
We plan to link power producers who have excess energy to other local users that they may not be aware of, or facilitate new business where there is reliable excess power being produced. Where there are multiple inputs from various power producers there will need to be a decentralised system that can facilitate transactions and administer payment.
This is where NFTs and Cardano come in.
NFTs or tokens will be minted whenever a power producer connects to the SurplusMap platform and provides electricity.
These NFTs of tokens will be stored in a smart contract that will be drawn upon by a power consumer and paid for directly. This will produce a full decentralised and local marketplace, potentially off the main grid. Further these tokens can be traded on secondary markets giving wider access to a solution to a very local problem.
Please describe how your proposed solution will address the Challenge that you have submitted it in.
The impact will be huge across Africa. It will enable every landowner or building owner to monetise the excess power that is produced from solar panels or other form of renewable energy.
It will enable small business, schools or new business to utilise locally produced, sustainable energy.
It will create millions of Cardano users.
What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
We have a lot of experience in the industry and are enthusiastic blockchain supporters. One of our team has submitted papers in other industries that have been accepted. We do have a strong developer team in place already.
As with all good products we need to explore the idea further and develop a proof of concept that can generate further funding. This funding could be formally through investors or through the sales of tokens or related cNFTs.