If the title is confusing you, don’t worry. I mean it in literal sense. Yes, you can generate passive crypto income from the Solar Panel setup installed at your home premises.
Most of you should know already that some countries including the U.S. are paying home owners for extra electricity produced by their Solar power systems. For most people it means “Zero” electricity bills. But that’s not all. Now, you can earn some crypto money from it as well.
Solar energy is currently the cheapest fuel in most countries. Which means, it’s only a matter of time before almost everyone on the planet might deploy a solar power system at their homes. It reduces the electricity production cost significantly and also offers a greener way to produce electricity.
So, now, the question remains. How to earn crypto from Solar power?
Solarcoin initiative was launched in 2014 with the mission to incentivize solar electricity production by rewarding the people who install it at their homes. Long term objective is to reduce the production cost and effectively make it Zero.
The current cost of Solar energy production in most countries is around $12/MWh. When the value of the Solarcoin will exceed the production cost, that’s when we can expect the Solar energy to be totally free.
How to Enroll for Solarcoin incentive?
There’s a procedure to it. Simply put, you have to register and file a claim for your home solar installation. Once approved, you will be able to earn the cryptocurrency directly in your digital wallet.
Here are the steps to do it:
- The first step is filling a claim for your Solar installation. Usually it can be done from your Solar monitoring company’s platform. If your company does not verify Solarcoin then you can reach email@example.com. This will let Solarcoin enroll the company you’re using currently.
- Once you have made the claim, it’s time to download an Ethereum-compatible wallet to create your digital wallet that acts like a bank account. Most people have found success with MetaMask.
- The monitoring system sends the generation statistics to the SolarCoin organization. The organization then pays you 1 SolarCoin per 1MWh.
That’s it. An important thing to know is each claim is reviewed before a grant is initiated. Once approved, you will keep receiving the crypto coins for life (as long as your solar system works).
You can obviously exchange your Solarcoins for other crypto currencies or you could convert them to cash. That’s totally up to you.
You can pick any exchange that supports Solarcoin. As of now, CarbonSwap is the main exchange where you can trade your Solarcoins. However, more exchanges are expected to list the coin in the near future.
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