Nigerian Startup Onewattsolar Will Help Africans Pay For Solar Energy Using Blockchain
The Onewattsolar startup, based in Lagos, Nigeria, came up with a way to allow thousands of Africans to pay for solar energy using blockchain tokens without having to pay for a solar system infrastructure that is funded through financial sponsors.
The goal is for customers to buy tokens in local naira currency using platforms from third-party technology financial companies.
On a traditional service using fossil fuels, energy consumption is around 70 Nigerian naira ($ 0.19) per kilowatt. But the blockchain system is 50 percent cheaper than diesel. Instead, the OneWattSolar systems will include solar panels and an integrated internet router that will automatically collect energy usage data, which is charged monthly for a fee, as you go.
Although the startup has only been eight months in the making, it is part of GoSolar Africa, a renewable energy company that has been operating in Africa since 2010. It is planned that in January 2019, the first 1000 systems will be launched, which will be fully commissioned.