Jem Energy offers blockchain tokens to solar tech buyers

Jem Energy has launched a reward scheme offering blockchain tokens to customers who purchase equipment for generating and storing solar energy.

The renewable energy company has teamed up with the blockchain platform Energi Mine whose Energi tokens can be put towards energy bills, used to claim discounts on electric vehicle charging or exchanged for cash.

Jem Energy sells and installs thermodynamic and photovoltaic solar panels and battery storage systems.

“At the moment the technology behind solar energy is progressing rapidly, as are the new battery technologies that underpin renewable energy,” said Jem Energy director James Rodwell.

“Therefore, given that we now have the ability to easily retrofit existing solar systems and energy infrastructure that is many years old, the incentivisation that Energi Mine can provide will succeed in nudging people towards making this active change.”

Energi Mine created the tokens to provide financial incentives for businesses and consumers to save energy.

The company’s chief executive, Omar Rahim, said: “The first step in the fight against climate change starts with the promotion of renewable energy options to consumers.”

He continued: “People require financial – as well as ethical – incentivisation in order to alter their entrenched behavioural practices and our partnership with Jem Energy provides exactly this.”

“We have already seen that the government’s debasement of the feed-in tariff has had a negative effect on the use of renewable energy: rates of solar panel installations have plummeted to a seven-year low in spite of the cost of installations falling by over 70 per cent.

“Therefore, we need to replace this lost incentivisation so that people can make a financially prudent decision in turning to renewables.”

The firm also recently partnered with Simply EV – a maker of electric vehicle charging equipment.