A GreenCoin is a digital asset that represents a free-market carbon offset emission credit. The GreenCoin ecosystem is a network of renewable users we call Producers. GreenCoin grows by adding Producers to the network. Producers include home PV solar installations such as the one I have installed.
Solar energy creates a carbon offset versus the amount of carbon generated by generic electrical production. In the GreenCoin ecosystem, this is captured by awarding new GreenCoins daily to Producers that are part of the GreenCoin ecosystem. The GreenCoin Foundation utilizes the Producer’s meter reading to calculate the GreenCoin award and distributes the coins daily. This effectively creates a private, market-based incentive credit system. GreenCoin does not rely on government-issued incentive credits, or punitive Cap & Trade or carbon taxation systems to produce and operate these incentives. The value of the incentives is determined by the open-market as market players buy and sell credits among themselves.
Let’s take a look how this works for a solar Producer.
The array creates metered energy, which is fed into the grid and reported in kilowatt-hours. A Producer enters this number periodically into their personal GreenCoin page. The coins are paid daily so this is the most productive frequency to enter the data.
The GreenCoin Foundation aggregates the production data daily and issues all of the newly minted coins to the Producers pro rata to their relative carbon emission offset productiveness. The coins received are received from the GreenCoin Foundation payout that is equal to the Producer’s relative carbon dioxide offset for that day.
Please go to grcoin.com. There you can:
* Sign up as a producer
* Enter meter data
* Download a wallet client for your operating system of choice
* Get help on a variety of technical issues such as wallets, exchanges and links to help forums.
We hope to see you soon on the GreenCoin website and remember:
* Signing up is free
* Receiving coins is free, there is no cost to you
* Once delivered, the credits are yours. They are digital assets which are considered personal property.
So if you are a solar Producer we encourage you to sign up today, and receive your free GreenCoins!
