Why Blockchain is the Future of Renewable Energy.

SunContract is committed to transforming the renewable energy space using a blockchain-powered peer-to-peer energy trading platform. In this article, you can read our interview with Gregor Novak, co-founder of Sun Contract.

Novak will discuss the latest advances in the industry, the impacts of global energy volatility, and ways SunContract is leveraging cutting-edge technologies such as artificial intelligence, machine learning and touchless tokens to enhance its products.

Explore our discussion to learn how SunContract is leading the energy industry's innovation at every turn, rather than just participating in the transformation.

Interview with Mr. Gregor Novak, Co-Founder of SunContract

Can you share any recent events or milestones that SunContract has achieved in the past year?

In the year In 2017, SunContract pioneered the first white paper on the peer-to-peer energy marketplace, setting a global precedent. This initiative followed a successful initial coin offering (ICO) for the peer-to-peer energy marketplace that ended on August 1, 2017.

On April 1, 2018, we launched the world's first retail peer-to-peer energy market nationwide, attracting our first customers mostly from the blockchain community. This is a milestone with more than a thousand blockchain enthusiasts early adopters becoming pioneers on the platform.

Entering 2019, SunContract expanded its operations by establishing an office in Estonia. Here, we are licensed to act as a cryptocurrency wallet custodian. This strategic move was critical to our growth and better digital asset compliance.

In the year In 2021, we took a major step forward by improving our platform to support energy self-sufficient villages. This upgrade demonstrates our commitment to sustainable and community-based energy solutions.

Over the past two years, we have made significant progress in expanding our services. We have obtained an energy license and launched an energy market in Croatia, and are also laying the foundations for operations in Estonia. In addition, we have established an office in Malta to adapt to the new European regulatory framework that will come into force from December 2023. MCA is critical to our expansion as it allows us to comply. After obtaining the necessary approvals in Malta, extend this regulation to all European countries.

How will global energy trends impact SunContract's strategy and operations in 2023 and early 2024?

In the year Global energy trends in 2023 and early 2024 have a positive impact on SunContract's strategy and operations. With the growing demand for low energy consumption, our services are more relevant than ever. We are committed to supporting this change by providing innovative solutions that enable communities to manage their energy needs autonomously. These trends align well with our pioneering role in the industry, reinforcing our commitment to supporting the global transition to green energy.

What new technologies or innovations is SunContract researching or planning to integrate into its services?

With a strong focus on integrating advanced technologies such as AI and machine learning, SunContract continues to grow. These technologies play a vital role in our back end services. Our system relies heavily on predictive analytics for different energy production sources such as solar, hydro and wind, as well as consumption patterns and energy management.

We work deeply on developing these predictive capabilities that are fundamental to our work. However, our next significant breakthrough involves the adoption of blockchain innovations in peer-to-peer energy management, particularly non-fungible tokens (NFTs). Although NFTs are not a new concept, their application in the power sector presents a unique opportunity.

We plan to use the ERC-721 token standard to issue NFTs each representing real-world solar panels. These tokens can be traded on the new SunContract NFT marketplace. This initiative is a major step in our journey to transform the energy sector with cutting-edge technology and adding value to every solar panel to make it globally accessible and liquid.

Are there any new markets or regions that SunContract is targeting for expansion in 2024?

Absolutely, SunContract is actively expanding into new markets. We have established companies in Estonia and Croatia and obtained energy licenses. We are exploring the rollout of peer-to-peer energy services and the integration of NFT technologies in these markets.

SunContract is exploring opportunities in various international markets. We have recently begun to explore the potential of the Japanese market. Our future plans include not only expanding our reach in Europe but also considering expansion into other international regions. This strategic approach reflects our commitment to global growth and the adaptation of innovative energy solutions to different markets.

What are the biggest regulatory challenges facing SunContract and how is the company addressing them?

SunContract must comply with both local and international regulations. This means that we consistently comply with different energy regulations that vary from country to country. In addition, SunContract must comply with crypto regulation by using blockchain and other crypto assets in addition to energy.

Currently, in the European Union, this is mainly managed by the markets in the Crypto-Assets regulation (MiCA), which will be implemented from December 23 of this year. SunContract is actively working to obtain all necessary licenses for EU countries. When considering new markets like Japan or others we may enter, our approach is always to fully understand and respect their unique regulations.

Whether in existing markets or future expansions, our commitment to regulatory compliance is unwavering. We recognize the importance of compliance with domestic and international legal frameworks to ensure seamless integration and operation of our services globally.

How is SunContract contributing to global sustainability goals, particularly in terms of renewable energy and reducing carbon emissions?

SunContract inherently contributes to global sustainability, particularly by aligning with the United Nations' Sustainable Development Goals (SDGs) 7, 11 and 13. Our initiatives and activities are designed to address all three dimensions of sustainable development: economic, social and environmental. Our energy marketplace is a testament to this holistic approach.

SunContract's core philosophy is to promote self-reliance and sustainability among individuals, companies and communities. This ethos is not only consistent with the United Nations' Sustainable Development Goals, but also actively promotes the use of renewable energy and the reduction of carbon emissions. By focusing on these areas, SunContract plays a critical role in advancing global efforts toward a sustainable and environmentally responsible future, particularly in clean energy and sustainable cities and communities.

What strategies is SunContract using to encourage more consumers to adopt solar energy and participate in the energy market?

SunContract actively engages with various communities to promote the adoption of renewable energy, particularly solar energy. Our approach includes reaching out to groups inclined towards sustainability and technological innovation, such as blockchain enthusiasts, young professionals, IT communities and art circles. By targeting these diverse groups, SunContract aims to stimulate participation in our energy marketplace. Our goal is to encourage these communities to embrace sustainability and self-reliance, thereby fostering wider adoption and use of renewable energy sources.

Can you discuss recent or upcoming partnerships or collaborations of interest to SunContract?

SunContract is actively collaborating with various EPC companies or solar or heat pump installers. This partnership will allow energy installers to use SunContract's services, allowing their customers to participate in peer-to-peer energy trading and other related activities. Our market entry strategies vary by region.

For example, we are talking to local companies in Japan who are interested in partnering with SunContract. The aim is to promote and integrate our innovative services into the Japanese market. Similarly, in the UK, we are talking to partners who have expressed an interest in collaborating with us.

We are excited to share more details, and formal announcements regarding these partnerships will be made as deals are finalized. These partnerships help expand our reach and influence in various global markets.

How is SunContract positioning itself in the increasingly competitive renewable energy market?

SunContract differentiates itself in the renewable energy market with a unique and competitive business model. We liken ourselves to the ‘Energy Uber' of providing energy services to a wide range of consumers. This approach effectively covers both the B2C (Business-to-Consumer) and B2B (Business-to-Business) sectors, including both individual and business customers. Our model allows anyone to access and use SunContract's services, whether they are private individuals, businesses or industrial organizations. This flexibility and inclusiveness are key to our strategy to stand out in the competitive renewable energy landscape.

How is blockchain technology evolving in the SunContract platform, and what are the benefits for your users?

SunContract is fundamentally built on the Ethereum blockchain technology, which forms the core of the platform. This technology provides unparalleled transparency to our users. They can view all their transactions and activities on the platform, ensuring complete visibility and automation of processes.

The use of blockchain creates inherent trust in the system as all transactions and transactions are securely recorded and verified. This aspect is a significant benefit to our users by instilling trust in our services.

Beyond personal benefits, blockchain technology also improves community engagement. It enables multi-stakeholder engagement that aligns with SunContract's sustainability and innovation business models. You can support and support SunContract in regions where we are still establishing our services.

With blockchain integration, SunContract has positioned itself as a global player. The addition of the NFT Marketplace is set to make this accessible, making our services globally accessible. The role of blockchain in our platform is not only the basis of technology; It's the gateway to expanding our community and enhancing the user experience globally.

How does SunContract incorporate customer feedback into service improvements and innovations?

SunContract actively engages with various communities on various social media platforms including LinkedIn, Telegram, Facebook and others to gather customer feedback. This valuable resource is fed back into the Research and Development (R&D) department. By doing so, we ensure that the feedback is analyzed and effectively used to improve our services and operations.

Our community plays a vital role in our continuous improvement process. Our current services are not only excellent judges, but also a source of ideas for new offerings. The community is also instrumental in testing new services, providing real-world insights that guide our innovation efforts. This collaborative approach with our users is fundamental to SunContract, as it helps us tailor our services to meet our customers' needs and preferences.

How has the SunContract P2P energy trading market evolved over the past year and what are the key benefits it offers to consumers and energy producers?

SunContract's peer-to-peer (P2P) energy market has shown impressive growth since its nationwide launch in Slovenia in 2018. It is expanding exponentially every year. The marketplace currently has a turnover of around 20 million euros and continues to grow rapidly. This growth is largely due to the tangible benefits recognized by our customers.

One of the key advantages of our marketplace is the elimination of middlemen. This aspect results in consumers generally paying lower prices compared to traditional utility providers. On the other hand, energy producers get more value from their output. They enjoy more flexibility, having the option to use their labor themselves, share it with relatives, or sell it at a better price in the marketplace.

This flexibility is a great advantage for consumers and producers, allowing them to control their energy use and sales. This empowerment is the primary reason why our users appreciate our services and is the driving force behind the growth of the market.

How is the SNC token currently being used in the SunContract platform, and are there any new functions or uses for the token that you would like to introduce?

The SNC token is the base token of the SunContract platform and plays a vital role in all our transactions. It is a pure utility token, necessary for the functionality of our system, and does not represent any security or commodity property. This distinction is critical for our users to understand.

As SunContract expands geographically into new markets, introducing new services and adding new customers to our energy platform, the utility of the SNC token will increase. This expansion is a significant driver of token economics, which can be seen in performance metrics such as liquidity and market value, on platforms such as CoinMarketCap and other similar aggregation portals.

Regarding new functions, we are continuously introducing new energy services based on the SNC token service, strengthening its status as our main utility token. A prime example is our energy marketplace, where NFTs, particularly those representing solar panels, are processed using only SNC tokens. This SNC token ensures that SunContract's ecosystem supports all our services, from existing peer-to-peer operations to the upcoming NFT marketplace and other services we plan to launch, possibly later this year.

Given the volatile nature of cryptocurrency markets, how does SunContract ensure stability and reliability in the evaluation and use of SNC Token for power trading?

Our SNC token, which is listed on international exchanges, is subject to market fluctuations like any other cryptocurrency. The value is influenced by demand and response patterns as well as broader market trends driven by major cryptocurrencies such as Bitcoin. However, we have implemented certain measures when it comes to the stability and reliability of using the SNC token for peer-to-peer power trading.

We have ensured that the design of the peer-to-peer energy marketplace, its services and daily settlements are not affected by the volatility of the SNC token. This means that for customers using the SNC token to pay their energy bills, exposure to the volatility is a choice rather than a necessity. For those who choose not to hold SNC tokens, the fluctuations will have no effect on their energy settlements on our platform.

Therefore, while the price of SNC Token may fluctuate in the wider market, its use for daily energy trading settlement on our platform remains intact, ensuring stability and reliability for our users in this particular context.

Are there new features or expansions planned for the P2P energy trading market in 2024?

Certainly, SunContract will be actively pursuing expansion in 2024. We recently entered the Croatian market, which marks the extension of the peer-to-peer energy trading market to the new EU. This expansion is initially focused on the Croatian market for 2024.

In addition, we plan to introduce our Estonian peer-to-peer energy marketplace service, which may be later in the year. This expansion strategy demonstrates our commitment to expanding our reach in the EU and offering innovative energy trading solutions to a wider audience.

How does SunContract's platform facilitate the integration of various renewable energy sources such as solar, wind and hydro into a P2P marketplace?

Since its inception, the SunContract platform has been designed to support a variety of renewable energy sources, including solar, hydro, and cogeneration or combined heat and power, as exemplified in Slovenia. Our platform uses advanced AI services to accurately predict the output from these various renewable sources, making them suitable and efficient to integrate into our energy marketplace.

Importantly, SunContract is exclusively dedicated to renewable energy sources. In keeping with our mission of promoting and facilitating sustainable and environmentally friendly energy solutions in our peer-to-peer energy marketplace, we do not dive into other forms of energy.

How has the P2P energy trading marketplace improved user experience, especially for those new to blockchain technology?

In enhancing the user experience on the SunContract platform, we have taken a two-pronged approach. The first level is designed for simplicity, providing users with no prior knowledge of blockchain and crypto assets. For these users, the platform is straightforward, allowing them to engage in energy trading without having to understand the complexities of blockchain technology.

On the other hand, for more advanced or crypto-savvy users, we offer the ability to delve deeper into blockchain functionality. We have integrated Blockchain Explorer into the SunContract platform, a complete platform where these users can view and track all their crypto transactions on the platform.

Our goal is to provide simplicity for the general public who are primary energy users, while also providing advanced features for users to explore deeper blockchain capabilities. This approach ensures that the platform is accessible and user-friendly to all, regardless of their experience with blockchain technology.

Can you share more details about the upcoming NFT marketplace? How will it integrate with the existing P2P energy trading platform?

The upcoming NFT marketplace on SunContract offers NFTs that represent digital ownership of a pre-built and fully functional solar panel without physical installation. These NFTs will have a lifetime of up to 15 years depending on the issuer. This marketplace will be fully supported and integrated with our existing P2P-powered marketplace, which is the foundation of SunContract's operations. All transactions involving solar panels represented by these NFTs are processed through our P2P energy marketplace.

There is a symbiotic relationship between the NFT marketplace and our P2P platform. The NFT Marketplace opens the opportunity globally for users to purchase one or more NFTs and create their own Private Power Generation (PPP). If a user lives in a country where SunContract P2P services are available, they can use the power from PPP directly.

For users outside of SunContract's P2P operating regions, while they cannot directly use the energy from the NFT-represented solar panels, they can still control the PPP very well. The generated power is sold through SunContract's P2P marketplace in the country where it operates, with the revenue provided to the user in SNC tokens. These tokens can be stored in the user's personal wallet on the platform and can be used or withdrawn as desired.

This integration not only provides a new way to engage with renewable energy, but also bridges the gap between traditional energy trading and the growing world of digital assets. It solves the limitations of users, individual solar potential infrastructure or country of residence, to participate, support and transition to green energy.

How will the introduction of NFTs impact the way energy assets are owned, traded and managed on the SunContract platform?

The introduction of NFTs on the SunContract platform is set to dramatically change the ownership, trading and management of virtual energy assets. By introducing solar panels into NFTs, we are making these assets globally tradable, which is a big change from traditional models. This digital representation not only makes solar panels more flexible and accessible, but also introduces a tokenized form of liquidation by default.

Customers will have the freedom to easily buy or sell these NFTs, allowing them to increase or decrease PPP as needed. This represents a major shift in the renewable energy industry, as it accelerates the global adoption of renewable sources. So far, many individuals around the world have not been able to participate in the green transition. With NFTs, entering and exiting the renewable energy market will be significantly easier, providing a simpler method for anyone to buy or sell these digital assets.

Overall, the integration of NFTs into the SunContract platform is set to make renewable energy more accessible, flexible and user-friendly, increasing the interest and viability of green energy investment for a global audience.

What is your vision for SunContract over the next five years, and what key milestones are you aiming to achieve?

Looking ahead, true to our sunny name I wish SunContract a very bright and promising future. Our main goal is to become a global energy marketplace (GEM) by expanding into different markets around the world. This expansion aligns with our original vision and builds on our existing offerings. Currently, we have a thriving P2P energy market, and we plan to introduce more energy services that support sustainability and self-sufficiency.

Over the next five to seven years, I believe SunContract has the potential to deliver significant growth, success and added value to our community. One of our major developments has been establishing SunContract as a ‘unicorn' in the industry.

Summary: The changing landscape of renewable energy.

As we conclude our conversation with Gregor Novak, it is clear that SunContract is actively changing the landscape of renewable energy.

SunContract offers a future where everyone has access to clean, affordable and sustainable energy while working towards the goal of establishing a global energy marketplace.