There’s something for everyone in the cryptocurrency family. Whether you’re a seasoned investor, a beginner, a risk lover or even an environmentalist, there’s something for everyone. Today, ethical and responsible cryptocurrencies are springing up all over the world. SolarCoin is one of them. With climate change making headlines, several cryptocurrencies are going green.
SolarCoin is one of these less polluting cryptos. With the aim of developing the production and use of solar energy, the foundation is innovating in this area. Its concept is innovative: SolarCoin finances the energy transition. Created in 2014, the cryptocurrency pays solar energy producers in tokens. After installing your photovoltaic panels and completing a few administrative formalities, users are paid according to their production. SolarCoin will support you throughout the installation of your photovoltaic equipment.
So, are you ready to take the plunge?
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Presentation of SolarCoin in a few key figures
SolarCoin share price in euros
solarcoin price
Source : CoinMarketCap
The current price of SolarCoin
Since the beginning of 2021, the price of SolarCoin has risen slightly twice. The first came at the beginning of March and took the price of Solar Coin from €0.01 to €0.08. The second, which took place in April, was similar, in that the value of SolarCoin rose by €0.08 to €0.09. Since then, the price of SolarCoin has fallen, and now remains at around €0.003. See the price of other cryptocurrencies
SolarCoin price history
Since 2014, the price of SolarCoin has fluctuated constantly.
2014: At the end of March, the price of the token was around €0.007. The value of SolarCoin changes fairly little over 12 months, but ends the year at around €0.01.
2015: This year will be like 2014. With a January value of €0.004, the token had a price of just over €0.01 in December.
2016: While the price of SolarCoin remained around €0.01 in January, its value peaked in the middle of the year, reaching €0.2 in June. It finally fell back to around €0.07.
2017: During the year, the price of the token underwent several variations. In January, it was around €0.06, before rising sharply for the first time in June to €0.2. There was a second rise in November, this time to around €0.6. By the end of the year, the value of Solarcoin had fallen back to around €0.5.
2018: This growth trend continues in 2018. This is even the year when the token will reach its historic peak in value. After starting January at around €0.5, the price of SolarCoin passed the €2 mark. Its value fell almost immediately to around €0.3. A new peak was recorded on 20 February, with a price of €0.8, but the value took a downward slope after that. In fact, it falls until it reaches 0.02 euros at the end of December.
2019 : The value of SolarCoin remains fairly stable throughout the year, starting at €0.02 and ending at €0.01.
2020: The same applies to 2020, with the SolarCoin price hovering around 0.1 for 12 months.
SolarCoin stock market listing
Today, 1 SolarCoin token is worth around €0.003. In the last 24 hours, this price has fallen by more than 2%. SolarCoin’s market capitalisation is estimated at €230,167. CoinMarketCap thus ranks SolarCoin 2077 among the world’s cryptocurrencies. In reality, this cryptocurrency is more dependent on solar activity than on the stock market itself.
What factors cause the value of SolarCoin to fluctuate?
There are a number of different reasons why a cryptocurrency’s price fluctuates. Many of these factors are common to all cryptos, while others are more singular. If you want to invest in SolarCoin, we advise you to consider the following points:
The law of supply and demand
Like all cryptocurrencies, the price of Solar Coin depends largely on its scarcity, in other words on supply and demand. The more demand there is for SolarCoin, the more its value will rise. Conversely, the more available the cryptocurrency, the more its price will fall.
The reward for mining
It’s best to offer miners an attractive reward! The higher the reward, the more miners the cryptocurrency will attract. This will considerably increase the efficiency of its network and, as a result, attract new users who will be captivated by its performance.
Media influence and reputation
All types of media have an impact on a cryptocurrency’s reputation. People trust the media and their behaviour can be influenced by news about a particular token. The publication of interviews with experts or well-known people in the cryptocurrency world, for example, have great potential to influence the market. Generally speaking, it is reputation that will have the greatest influence. SolarCoin therefore has every interest in looking after its reputation to attract a large number of users.
Regulations and laws
Laws can vary from one country to another. However, these have a real impact on cryptocurrencies and could severely restrict them in some cases. While cryptocurrencies are independent of states and central banks, they may nevertheless be subject to a number of rules that can change from one government to another.
The global economic and financial situation
These are the main factors to be taken into account when assessing the profitability of your future investment in SolarCoin.
SolarCoin forecasts and future
SolarCoin price forecast for 2021
Solar energy is increasingly attracting all kinds of players, from investors to businesses. Although this type of energy is on a roll, forecasts for SolarCoin are not particularly unanimous.
Indeed, Wallet Investor believes that SolarCoin is a bad investment over a one-year period, as the value of the token is likely to fall in 2021. Similarly, it does not advise inexperienced investors to take the plunge into the SolarCoin adventure, which is rather specific and insecure. However, it is important to understand that this analysis is based on the possibility of profit and return on investment. Some people might have different priorities, but it’s still important to note that betting on SolarCoin can be risky.
TradingBeasts, on the other hand, tends to recommend this cryptocurrency. The site considers it a good investment for 2021. It predicts an increase in the price of the SLR token by the end of the year, from $0.0049524 (around €0.041) to $0.0083118 (around €0.068). TradingBeasts is therefore proposing a more favourable projection.
These different interpretations for the future may seem contradictory. But in reality, they are complementary. It is important to take several analyses into account before investing in the token.
Long-term predictions for the SolarCoin price
Like the predictions for 2021, long-term estimates differ. According to WalletInvestor, the negative trend for SolarCoin will continue in the coming years. The site even predicts a significant drop in 2022 in particular. TradingBeasts, on the other hand, predicts a brighter future for the SolarCoin Foundation. The positive trend for the value of the SolarCoin token in 2021 also applies to 2022 and beyond.
SolarCoin’s plans for the future
The SolarCoin Foundation is bursting at the seams with projects, which some may find over-ambitious. Initially, almost 97.5 billion SLR tokens were created. Since 2014, more than 10,000 solar panel installations have been registered, out of a target of…. 1 million! So there’s still a long way to go.
All about SolarCoin
Origins of the SolarCoin project
With the aim of boosting the consumption of renewable energy, the Solar Coin Foundation has developed a virtual currency project. It is also part of a growing trend: the collaborative economy. François Sonnet and Nick Gogerty are at the head of this ambitious project. The result is the SolarCoin cryptocurrency, which, among other things, enables solar panels to be multiplied by acting as a subsidy. Analyst Corey Honeyman of Greentech media research in Boston told Wedemain:
“it could be an incentive (to produce green energy) for all homeowners”.
Notable features of SolarCoin
SolaRcoin is a cryptocurrency that entered the market in 2014. It is based on blockchain technology, which gives it a decentralised nature, as is the case with many of its competitors. On the other hand, it differs from other cryptocurrencies in that the project is part of a more environmentally-friendly approach.
SLR, the SolarCoin token
Solar Coin uses the SLR token, which is the network’s native token. The maximum number of SLR tokens in circulation is 64,810,697.
The SolarCoin wallet
Like many reputable cryptocurrencies, SolarCoin has its own wallet, where you can store your precious SLR tokens.
SolarCoin, greener than most cryptocurrencies
SolarCoin pushes the creation of green energy, more specifically solar energy. It does this by incentivising the production of clean energy and paying owners of photovoltaic panels. In exchange for 1 MWh of solar energy, producers are offered 1 SolarCoin. Unlike Bitcoin or other cryptocurrencies, this cryptocurrency is based on very tangible, real assets, whereas Bitcoin is based on intangible assets. As a result, the ecological impact of Solar Coin also differs from that of Bitcoin.
Why do cryptocurrencies pollute?
The impact of cryptocurrencies on the environment is increasingly being denounced, even by the first converts to these assets. This is due to several factors:
Blockchain technology. To ensure full transparency for their users, cryptocurrencies use a public ledger, acting as a repository for transactions recorded on the network. This is the famous blockchain.
Mining. Mining consists of creating blocks to validate transactions made on the platform. Companies or individuals who mine generally receive a reward for their work. But mining is not a trivial activity: it requires high-performance computers capable of solving complex equations and validating blocks. This practice can attract a lot of users, as it is very lucrative. Following this logic, many people have set up mining farms (or pools), grouping together several miners. The environment suffers the direct consequences of this phenomenon.
Advantages and disadvantages of SolarCoin
To conclude this presentation, here are the main strengths and weaknesses of this cryptocurrency to consider:
The advantages of investing in SolarCoin
A “green”, environmentally-friendly cryptocurrency, unlike most of its competitors
SolarCoin allows you to make a quick return on your photovoltaic installations
An efficient, fast and high-performance grid
Financial compensation for solar energy producers
The possibility of paying directly in SolarCoin at certain energy suppliers
Disadvantages of investing in SolarCoin
A cryptocurrency whose value is unlikely to take off
Too specific and specialised a market
An initiative that some investors consider too ambitious
Solar panels electricity
How does SolarCoin work?
Initial operation of SolarCoin
Like many cryptocurrencies, SolarCoin uses the blockchain. SolarCoin works in a similar way to a loyalty scheme. If you own solar panels, you can register directly with the foundation. Once you have entered your installation details and supporting documents (such as invoices, etc.), you will be able to access your dedicated wallet. SolarCoin will then pay you your tokens every 6 months, depending on your solar energy production.
Towards a change in the way SolarCoin works
At the start of the venture, the SLR token operated with a Proof of Work system to ensure rapid redistribution of tokens to users. At the end of 2014, the cryptocurrency switched to a more environmentally friendly Proof-of-Stake-Time (PoST) process. In exchange for a few SolarCoins tokens, users can contribute to the security of the network. The change of algorithm makes the cryptocurrency particularly powerful. It is, for example, 50 times more efficient than Bitcoin mining, according to Coinswitch, which is no mean feat!
Very special cloud storage
SolarCoin uses cloud storage. So there’s no need for a physical data centre. This makes SolarCoin the first cryptocurrency based on storage provided by satellites.
What is SolarCoin used for?
This asset has all the advantages of a traditional cryptocurrency, but on top of that it combines other very valuable aspects.
Limiting fossil fuel consumption
Unlike other cryptos, it pollutes little and contributes to the development of solar energy. By funding producers of this energy, the SolarCoin Foundation is contributing to the energy transition. It’s a strong and commendable project, which structures a long-term vision on the part of the foundation.
Making the most of your solar panel installations
If you have chosen to install solar panels at home, registering your installation on the foundation’s website is a very good way of making your equipment profitable. For your part, you don’t have to meet any specific targets. If your panel produces less over a certain period, you will be paid less, but this will not affect your credibility with the network.
SolarCoin partnerships
Developing a network of partners is a major challenge for any self-respecting cryptocurrency. It not only helps to perfect the expertise and spread the word about the cryptocurrency, but also to share knowledge. As a result, the choice of collaborations is also a major issue if the reputation of a token, for example, is not to be tarnished. In the case of the SolarCoin Foundation, several partnerships have been established at different times during the project’s existence.
SolarCoin and Alesia
A partnership was concluded with the French company Alesia in 2018. Alesia is a marketing agency specialising in renewable energy. The aim of this partnership is above all to extend SolarCoin to a brand new market: the French market. Alesia has facilitated the adoption of SolarCoin by owners of photovoltaic panels. On Alesia’s side, the company is to support solar energy producers in their integration into the SolarCoin network. For the cryptocurrency, the aim was to develop the creation of solar energy, in particular via blockchain technology.
SolarCoin and Solo Energy
Also in 2018, the SolarCoin foundation collaborated with Solo Energy, with a view to expanding the development of solar energy. Solo Energy is a company that produces so-called virtual power plants. These are not located in a specific place, but are a vast network made up of batteries and electric vehicles. The whole system is linked by software called Flexigrid and redistributed according to need. As part of its partnership with the SolarCoin Foundation, Solo Energy is contributing as an affiliated contributor. In practice, Solo Energy is facilitating access to the foundation for users of its own network. This is clearly in line with the crypto’s long-term objectives of increasing the use of green energy, particularly renewable energy.
SolarCoin and SMAP Energy
SMAP Energy has also joined the SolarCoin network as an affiliate. SMAP Energy is a company whose aim is to reduce the energy impact of data on the internet. As part of the collaboration, SMAP Energy provides digital services and helps customers install solar panels.
These various collaborations certainly give rise to a sharing of experience for each company, but they also have the aim of improving a company’s image. Contracts with the foundation’s partners provide it with expertise. Such projects also help to renew the foundation’s objectives.
Switching from a blockchain supported by SolarCoin to another, based on Ethereum
A change in line with SolarCoin’s objectives
SolarCoin recently decided to abandon its own blockchain after 7 years of use. With a view to improving performance, the Foundation has chosen a blockchain supported by Ethereum. As we have seen, SolarCoin’s objectives over the next 40 years are very ambitious. It is therefore important to offer a blockchain that can meet users’ requirements. The Ethereum network makes this possible. What’s more, this solution retains the very essence of the foundation, i.e. the solar energy that powers the creation of SLR tokens. More specifically, the Energy Web Chain has been chosen to address this issue. This uses a Proof of Authority algorithm.
Ethereum (ETH) in a nutshell
Ethereum is the second most popular cryptocurrency in the world. Like virtually all cryptocurrencies, Ethereum uses blockchain technology to operate. What makes this cryptocurrency special is its use of “Smart Contracts”. These make it possible to carry out transactions that are not controlled by third parties.
How can I get SolarCoins in 2021?
Exchange platforms
It is perfectly possible to exchange SLR tokens for other tokens. Similarly, you can buy SLR tokens directly on sites such as Bittrex, Livecoin, Bleutrade and Coinexchange.
Become a solar energy supplier
You can obtain SLR tokens via your own photovoltaic installations. After registering your installation on the official website, you can receive the number of tokens corresponding to your production in your SolarCoin wallet.
Can I mine SolarCoin?
It is possible to mine SolarCoin. This is also the case for many cryptocurrencies. However, mining with SolarCoin is a little different, given the cryptocurrency’s ecological values. In practical terms, one SolarCoin token is mined for one megawatt-hour (MWh) of solar energy. Logically, the sunnier the region where the miner is located and the more powerful its solar energy creation system, the faster the tokens will be supplied.
Why and how should SolarCoin tokens be used?
Why use SolarCoin tokens?
There are several reasons why the SolarCoin token is unique.
An environmentally friendly cryptocurrency: SolarCoin tokens are unlike any other. They are produced far more ethically than most cryptocurrencies. They have less of an ecological impact, as well as financing green energy.
A recognised cryptocurrency: SolarCoin is officially recognised by the International Renewable Energy Agency (IRENA). It is the first cryptocurrency in the world to be certified in this way by a non-governmental organisation.
A low-energy blockchain: SolarCoin stores its blockchain in a cold storage space that requires no additional cooling.
How can I use SolarCoin tokens?
Exchanging your SLR tokens
First of all, you can exchange your SLR tokens for other tokens. You can do this on various platforms such as Bittrex or Lykke.
Paying directly in SolarCoin
You can also pay in SLR at shops that accept this payment solution.
Shops that accept SLR in France
In France, you can pay your electricity bill with SolarCoin tokens at ekWateur, for example. This supplier focuses on renewable energy. It is also the first in the field to accept cryptocurrency transactions. What’s more, SolarCoin drastically reduces the amount of storage space required by keeping only a certain number of transactions, in particular those that provide the amount of the reward awarded to each energy producer.
Our opinion on SolarCoin: is it too late to invest?
Between innovation and sustainability, SolarCoin is an attractive cryptocurrency. Predictions about its future may differ, but there’s no denying the innovative nature of the project. Demand for solar energy is likely to explode in the coming years, and that’s all to SolarCoin’s advantage. There is real potential around this cryptocurrency, but it may be more difficult for new investors to seize it. So it’s not too late to invest in SolarCoin, even if the return on investment is unlikely to be as impressive as with Bitcoin, for example. It’s a question of betting on another project, with other values such as respect for the environment and more responsible energy consumption. An initiative like this could well attract new investors and even new producers of solar energy. The fact that any individual can join the network makes it much more efficient and accessible. In view of the current climate challenges, a cryptocurrency of this kind is of real interest.
To add a ray of sunshine to your wallet, what better way than with SLR tokens?
