The energy efficiency market has reached a value of $241 billion in the past 10 years. The term ‘energy efficiency’ refers to the ability of a physical system to obtain a given result through lower-efficiency systems. This also helps to increase the yield and thereby allows for saving energy and reducing operating costs.
Over 68% of the energy that is currently used in the world is not covered by an energy-efficient standard, in fact, the system within which it is used can be made more efficient. EFFORCE is an energy-saving trading platform that makes it easy for any economic entity to implement solutions on their energy systems.
EFFORCE[1] solves the major issues faced by the energy efficiency market such as the initially high costs of accessing a complex energy-efficient system, the need for technical knowledge in order to monitor the energy savings that are achieved, the uncertainty on the payback period of the investments, and the inability of one of the parties in evaluating the actual achievable savings.
What is EFFORCE?
EFFORCE is a blockchain-based energy-saving trading platform that brings together those who want to improve the energy efficiency of their buildings and industrial processes along with a pool of contributors who are interested in being repaid in tokens. These tokens represent the energy savings that are achieved by efficiency improvement projects.
EFFORCE aims to make the energy efficiency market accessible for everyone alike and link financial partners with those in need of investments for improving their energy efficiency. This is made possible through Energy Service Companies or E.S.Co.
Energy-saving that is financed by the contributor is tokenized and used or sold to energy-intensive consumers who can thus stop paying their bills.
How does it work?
The EFFORCE system has 3 major elements that facilitate its working:
- Contributors:
