Rowan Renewable Energy was the brainchild of the founder and CEO David Duckworth. originally Rowan wanted to reward people for sustainable living, but the team found it impossible to quantify the value of recycling a plastic bottle to recycling a bed mattress.
But part of the above project, Rowan wanted to encourage UK homeowners to get rooftop solar installed.
This is where the gap in the market is in the UK.
On 1st April 2019 the UK regulators stopped the solar incentive scheme (called FIT) for new solar owners. Whereas before the scheme had offered residents in the UK a healthy return for feeding you excess energy onto the grid, you where sold panels with a 'good return' and 'pay for themselves' sales pitch. Now with returns being a maximum of 0.055p per KW/h. Your panels will never pay for themselves. Even if you are on the FIT tariff, it takes from 3-12 months to receive payment for your energy.
If you own a large solar farm you can receive a certificate (called REGO) of origin for your energy meaning you can sell it as green/renewable. You are also entitled to what known as a Renewable obligation Certificate or RoC. These are assets uncoupled from energy produced and are sold to businesses that need to offset their carbon footprint.
With stricter carbon targets being announced and hefty fines being promised these certificates are going to become very valuable - above and beyond the £47.70 they already cost.
\in UK residential renewables market is the inability to track the energy coming onto the grid from rooftop assets. This makes the REGO and ROC market inaccessible. Plus to be eligible for the ROC and REGO scheme you need to produce 1MW/h of energy. Residential house, of course, do not do that
Rowan Energy with the support of their own custom-built low-carbon blockchain has formed relationships with meter reading businesses. Utilising the latest technology Rowan can track the source of energy from rooftop solar and create our own tokenised certificates, and because we don't need to prove to our customers that their energy green (they can see where their energy is being produced in real-time from the chain and our dashboard. We can sell the ROCs and REGOs.
The blockchain and infrastructure also enable the peer to peer trading platform where we give customers to buy their energy directly from other solar owners, the trade is automated and across public exchanges, and the best bit is the energy providers get paid instantly for their energy.
All transactions are to be paid in rowan Token and also RWN is used to by and sell the energy and the buy/sell and moving of certificates. This will create a huge demand for the token, with every energy customer needing to reload the wallet to pay for their energy.
Thank you so much for reading my pitch. I welcome any questions or AMA session,