WATTECO

Title of the project or solution

Watteco.

Company owner of the project or solution

Developed by Watteco SCCL.

Categorization of the project or solution in the energy sector

Energy communities.

Description of the project or solution

To encourage energy communities, startup Watteco SCCL has designed an app to help finance renewable energy installations that will later become energy communities.

To do this, they have developed a system based on crowlending, which is the financing of a project through small loans from investors.

The system works as follows, first an investor invests in a project in his locality a flexible amount and entirely at the investor's discretion.

With this and other investments the owner of the facility, carries out the same and begins to produce renewable energy.

At this point, the Watteco platform begins to track the energy that the owner saves from taking from the network, and that comes from his installation, looking for the savings in Kw/hi consequently the economic savings

As a result of this economic saving, a fraction of the investment is returned to the various investors, thus achieving a system of periodic and reliable capital return.

This return comes in the form of a token, "a digital currency", which can be exchanged or paid with in the various establishments that accept this currency.

So, we find a situation where there is a three-way benefit, firstly the investor obtains an investment with a very secure return, the owner obtains financing for his project and independence from the electricity grid, and finally the latter benefits in the form of a reduction in the stress to which the system is subjected.

Role of blockchain technology in the project or solution

In this case the blockchain acts in two independent ways. First, it acts as a digital notary, storing the information of investors and owners, and through the so-called "smart contracts" returns capital to investors automatically by generating tokens.

On the other hand, the blockchain brings security to the entire system, as well as transparency knowing that the data cannot be manipulated.

TRL (Technology Readiness Level) of the project or solution

The platform is at a TRL stage of 8.

It has been tested in real environments with positive results and the application is available on the market, but the offer within it is not very large, since it is only possible to use it in most municipalities.

In the coming years it is expected that there will be an expansion in the form of a greater range of municipalities, because as already mentioned it is an alternative that brings benefits to all parties.