April 5, 2024

Ec³ joins the peaqosystem

peaq

Community

What’s happening?

Ec³, a DePIN for green energy storage that lets people and businesses earn rewards for using solar power, taps peaq as its layer-1 backbone.

Why is that important?

The carbon offsets market is expected to grow to more than $1.6 trillion by 2028, and Ec³ opens this market for everyone while promoting a more sustainable paradigm for the energy industry.

What does this mean for the community?

Ec³ will enable the peaq community to contribute to a global shift toward sustainable energy and join a distributed solar power while driving up the network activity — and value being created — on peaq.

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A DePIN for an energy paradigm shift

The carbon offset market is expected to grow to $1.6 trillion by 2028 as businesses look to become more sustainable. The world grows greener, and green initiatives, from reforestation projects to sustainable energy grids, can expect troves and troves of investment. But what about the everyday people doing their part with things like solar panels?

If you happen to be one of those, or just live in a sunny area, don’t worry — Ec³’s got you covered. Ec³ is a decentralized physical infrastructure network (DePIN) for green energy storage. It enables people using green energy to earn token rewards while helping businesses offset carbon emissions. Yes, you guessed it right, that’s basically turning a humble solar panel on a residential home or a mom-and-pop store next door into a carbon credit generating machine. And the best thing is, this machine will run on peaq.

Ec³ is tapping peaq as the layer-1 backbone for its DePIN of community-run solar-powered batteries. At the core of it will be the EC Cube, a device that can monitor green energy usage and upload it on-chain. By connecting it with a solar-charged battery, people and businesses can create Web3 certificates confirming their use of sustainable energy, while earning token rewards. These certificates can be sold as carbon offsets, unlocking this market for everyone.

As part of the integration, Ec³ will set up the protocol and the interface that will enable people and businesses to easily connect their EC Cubes with peaq. It will also enable the EC Cubes to upload the electricity use data on peaq, signing it with their self-sovereign peaq IDs, and enable the app to retrieve this data for reward generation. Ec³ will set up its reward mechanism on peaq and launch its token natively on the layer-1 network for DePINs.

“We believe that the future of energy is green and decentralized. The DePIN model is perfect for bringing this vision to life — and peaq, thanks to its Modular DePIN Functions like peaq ID and its DePIN-friendly economics, is the best place for a DePIN like Ec³. We are excited to be moving ahead with this integration.”

— Felix Guo, the founder of Ec³

“Moving to a more sustainable energy paradigm is crucial for the world’s long-term future. The distributed model has a lot to offer to the sustainable energy industry, and we’re excited to see Ec³ champion this push as it brings Web3 solar power carbon offsets on peaq.”

— Till Wendler, co-founder of peaq

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