What are we waiting for? While renewable energy technology has improved exponentially, the transition to renewables has not kept pace.

Swytch tokens — using blockchain technology — can help change that.

First, let’s talk about what Swytch tokens do.

Swytch tokens serve multiple purposes:

1. To incentivize renewable energy production

2. To compile, track and share data associated with renewable energy production

Anyone who owns Swytch tokens has access to that data. Swytch tokens may also be used in a similar manner to voluntary RECs.

What are RECs?

REC stands for Renewable Energy Certificate — also known as Renewable Energy Credits.

Renewable energy is a big deal; people and companies want to be able to prove that they produced it or contributed to its production.

An REC represents proof that 1 MWh of electricity was generated from an eligible renewable energy resource — like a wind farm or solar panels — and fed into the power grid.

Renewable energy has environmental and social benefits. People and/or companies that own RECs can claim to be responsible for those benefits.

The issue is that the current REC markets are fragmented. The markets don’t cross state or country lines. They aren’t efficient for getting the world to where it needs to be by 2040 in terms of renewable energy adoption.

Swytch tokens have many uses, one of which is replacing RECs.

Unlike RECs (and other incentive programs) Swytch doesn’t allocate tokens on a 1:1 basis per unit of energy produced.

Instead, Swytch uses an “Oracle.” An “Oracle” finds and verifies real world occurrences and submits this information to the blockchain.

The Swytch oracle allocates a certain amount of Swytch tokens based on the environmental and economic impact of the renewable energy produced.

So, where does renewable energy have the most economic and environmental impact?

The issue with current renewable energy validation technology is that it doesn’t give us enough data to accurately answer that question. That’s why we need better data. That’s why we need Swytch.

Once Swytch gives us new data on renewable energy, what can we do with it?

The Swytch oracle will produce a geo-stamped Swytch token when renewable energy is produced. Swytch token owners will know when, where, how much, and by whom renewable energy was produced — information that is recorded and validated on the blockchain.

Swytch tokens can tell us what type of solar output occurs at certain longitudes and latitudes. They can tell us how much output to expect from wind farms in different parts of the world. Anyone who owns Swytch tokens can tap into this wealth of data.

This valuable data can help drive investment decisions. Just think — Swytch token owners will have access to data telling them how much energy output they can expect get from a wind farm in Location A, and how that output compares to Location B.

Limiting technology is a major obstacle in the path to global renewable energy adoption. Swytch addresses this issue by verifying renewable energy production with 100% accuracy on an immutable blockchain ledger. Companies and consumers who use Swytch will become much more efficient in how they distribute and use renewable energy.

Our mission is clear, the need is obvious, and the solution is sound. Register here to be among the first to help accelerate the Swytch to a sustainable and equitable energy future.

If you’d like to speak directly with the Swytch team and community, join us on our Telegram channel.