Project DAEDALUS

Project DAEDALUS - Reaching the Sun with Solar Coins and Smart Solar Panels

The feasibility study looks at how to exploit cutting edge ICT, Internet of Things (IoT), Cryptography and Fintech enabling technologies to transform energy access with "affordable" rooftop solar energy and "behind the meter" energy storage. Solar PV provides excellent low carbon alternative to back up diesel generators for cheap, non-stolen electricity and will improve the supply of clean, affordable and resilient energy to South Asian countries. We will build a system test-bed at University of Hertfordshire (UH) "Smart Lab" to show how we can improve energy security and reduce cost though decentralised database systems based on blockchains and distributed ledger technology linked to our patented smart solar panels. We have a potential Indian partner standing by.
Problem statement: Many communities in developing countries suffer from poor grid infrastructure which can be mitigated with rooftop solar energy located close to the point of consumption. Ongoing fraud and theft costs must be reduced for schemes to be financially viable; strong asset management and improved security against cyber-attacks can help. Distributed rooftop solar PV also mitigates local energy distribution problems and grid stability bottlenecks. Smart solar panels increase resistance to cyber-attacks and provide strong asset management to reduce cost of theft and fraud. This will benefit aid agencies, investors, operators and owners.
Project outputs: (i) System test-bed with demonstration hardware and software applications linked to the cloud. (ii) We will demonstrate how new kinds of cryptocurrency such as SolarCoins can complement income from selling electricity to reward investors or repay loans. This may offset the disappearance of feed-in-tariffs. (iii) Our demonstrator will help financiers, businesses and government departments further understand investment opportunities arising from these fast moving technologies. (iv) During the project we will explore opportunities and cultural barriers for in-country deployment to replicate our test-bed with local partners.