Project aim: Cryptocurrency as an energy container
One of the key problem in renewable energy utilization is the variability of energy generation by power sources: solar panels produce most during the day, in the summer, and closer to the equator; wind turbines are dependent on the wind. Currently the grid is not equipped to accommodate fair energy to payments exchange with private energy collectors such as households.
One way to convert excess of generated energy to funds is using it to power devices that mine cryptocurrencies in proof of work based networks. Later, obtain cryptocurrencies can be traded in central (CEX) or decentralized (DEX) exchange to a convenient currency and used to purchase the energy elsewhere. This is already a trend since in the last quarter of 2021, an estimated 58.5% of energy used for mining came from renewable sources [source].
