Zero Carbon Project

The Zero Carbon project, they have vision to sort out the drastic climate change around the globe with the utilization of blockchain. Nowadays the renewable energy source has been in the top priority when it comes to tackling and varying the climate but the problem is they are of very high price so thus it effects the carbon emission.

Problem this solution is Zero carbon Project. The project is of two major part, one is it provides at low rate of price but turn consumer to zero carbon energy. Second one is the Zero carbon tokens which the customer will get as a gift for using zero carbon energy across the the market.

About the Project:

As the name suggests it is more of a project than anything else with its central focus being on climate change and what can be done to tackle it as quickly as possible. Of course, blockchain technology can be used in a number of industries and spheres, such as elections and healthcare, so the idea of using it in order to benefit the climate is certainly not too far removed from what has already been done before.

In order to help, they are looking at using blockchain technology to help individuals to obtain renewable energy sources that are at a substantially lower price to make things appear to be far more sustainable than before. The hope is that, by encouraging more people to switch to renewable energy sources, that it will have a knock-on effect for the climate and environment in general.

The main thing is that it is a zero carbon energy source, so this can even come from fossil fuels which is a bit of a surprise when you think about it. However, the main aim is in reducing costs and moving people towards energy resources that are indeed better for the general climate.

The main point of Zero Carbon Market

is to equalize the competition between producers of carbon-free energy and those who use fossil fuels. For this purpose, a system of compensatory payments for produced carbon dioxide (so-called international carbon credits) was created. The funds collected are subsequently channelled to various carbon reduction projects in other parts of the world.

The use of the platform will reduce the price to $ 0.01 per 1 KWh of electricity for its members. For comparison, the cost of renewable energy today is 5–8 US cents per 1 KWh.

Why will sellers of energy seek to participate in the Zero Carbon Market?

It would seem that they have solid losses: they are forced to sell electricity cheaper or pay extra for the use of fossil fuels in energy generation. However, the project developers believe that these costs will be compensated by saving money spent on finding, attracting and retaining customers. Another important factor is the possibility of participation in combating climate change on the planet.

How Zero Carbon Works:

With international carbon credits, suppliers of Zero Carbon energy are able to compete with one another through an offset of carbon emissions. This is cost effective as offsetting the carbon emission is usually more affordable than renewable energy. Interesting to note is that Zero Carbon is a little cheaper than fossil fuels, and far less expensive than the cost of renewable energy. Through intense competition provided for by the Zero Carbon project among its ever-growing number of suppliers, price reductions are being made to cover up for an extra cost that may suffice. The chain of activities of the Zero Carbon is very simple and straightforward. First Zero Carbon energy offers are being submitted, after which comparisons are being made using online switching system and online reverse auction system for household and business supplies respectively. When this is done, consumers are left to choose the best option before completing a direct contract with the supplier.

Zero Carbon solution:

The Zero Carbon project powered by the blockchain technology is committed to tackling climate change by switching consumers to Zero Carbon Energy through a competitive Zero Carbon market where carbon is offset by international quotas. The Zero Carbon Energy will be cheaper when compared with the current renewable and fossil fuel contracts, this will be achieved by leveraging international carbon credits and an intense market competition. Not only does Zero Carbon Project tackle climate change, consumers could save more by switching to Zero Carbon Energy compared to renewable energy and fossil fuel sourced electricity. Energy suppliers will benefit from a large consumer base who are ready to make the switch to Zero Carbon Energy. Suppliers of Zero Carbon Energy can source their energy from renewable sources or from fossil fuel but they will have to pay a premium in order to offset the carbon emissions using international carbon credits.