A Spanish energy-tech company is testing a new way to pay for cleaner power, and it could transform how renewable projects get funded around the world.
Turbo Energy has launched a pilot program, as reported by Cointelegraph, to tokenize financing for solar-plus-storage systems. Starting with an on-site installation at a supermarket, the project will use the Stellar Development Foundation's blockchain to raise capital. The goal is to make sustainable energy more accessible and easier to build.
Along with Stellar, Turbo Energy is developing the pilot with digital-asset firm Taurus. Here's how it will work: Instead of relying on traditional lending or large institutional investors, blockchain tokens let many participants fund a project by purchasing fractional shares of the debt. Each token represents a contribution toward the installation — in this case, Turbo Energy's Sunbox solar-plus-battery system — which generates cleaner power under a long-term power purchase agreement.
If the model works, it could streamline financing for commercial and industrial solar projects. That matters because upfront cost is one of the biggest holdups for businesses that want to switch to clean energy. But this opens the door to a wider pool of investors.
The pilot is an example of energy as a service, which is now valued at more than $74 billion and expected to double by 2030, according to Grand View Research. With EAAS, customers don't have to buy or maintain equipment; instead, they simply pay for the clean electricity they use.
This is an interesting pivot within the crypto industry, which has been heavily criticized for its environmental footprint. While proof-of-work models like bitcoin use massive amounts of electricity — often tied to dirty energy sources — moves like this show some innovation toward eco-friendly strategies.
We've seen similar efforts in the industry, such as Argo Blockchain mining crypto with hydropower and Soluna building data centers near renewable energy farms. In fact, the Cambridge Digital Mining Industry Report found that bitcoin now uses 52.4% of its energy from sustainable sources, up from 37.6% in 2022.
Reactions from those involved in the project have been enthusiastic. "We are combining real-world solar storage infrastructure with blockchain technology to create a pathway for new revenue streams and wider access to sustainable investments," said Mariano Soria, CEO of Turbo Energy, per Stellar.
"We see it as our responsibility to ensure that blockchain innovation benefits real economies and real communities," added Lamine Brahimi, co-founder and managing partner of Taurus.
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