Globally, more than 8 out of ten people believe that the world should be fully powered by renewable energy. In 2018, the energy technology thus far developed is capable of this very possibility, and yet most of our energy still comes from natural gas and coal.
In 2017, just three percent of global energy usage came from renewable sources. Environmental concerns may encourage us to “go green” but reality doesn’t make that a viable option for everyone. Regulated markets allow power companies to exercise a monopoly over energy generation, distribution, maintenance, and most importantly, billing. On it’s own, clean energy influence holds very little sway over big energy, but that could all change with blockchain. The same tech behind cryptocurrency, blockchain has made some big moves across nearly every industry, and our energy needs are next in line. Taking the same decentralized structure of cryptocurrency and applying that to energy consumption has the potential to completely revolutionize the way we think about power and interact with renewable sources.
As digital and energy technologies grow, so too does the synergy among them. Take a look at this infographic for more on the current state of renewable energy, the influence of blockchain in the industry, and how it can help consumers stand up to big energy and take the power back into their own hands.