AUSTIN, Texas--(BUSINESS WIRE)--Swytch, a blockchain-based solution for accelerating a sustainable and equitable energy future, today announced a joint development agreement with HST Solar, the leading end-to-end solar platform. Under the terms of the agreement, HST will provide Swytch with proprietary data and analytics for forecasting production capacity and efficiency for solar installations. This data will also allow for developers to run different financial scenarios for an existing or planned installation.
The data arms Swytch with the ability to help users identify which locations will provide the best returns on investment and, therefore, how to maximize monetary returns and Swytch rewards. This gives holders of the Swytch Token access to otherwise costly information. In turn, HST will gain visibility from a wide array of Swytch network participants and be able to refine the quality of their models using Swytch network data. This will further enhance HST’s position as the leading purveyor of high-quality data that will maximize the efficiency of solar installations.
“The transition toward sustainability and a renewable energy power infrastructure has strong tailwinds and Swytch will make them even stronger,” said Rudy Roy, Cofounder of HST Solar. “Solar power has become the cheapest form of electricity in the world with record-breaking projects being built. We are excited that this partnership will help us showcase how HST can help a blockchain-based solution leverage our 25GW+ of solar modeling experience.”
HST Feasibility is the world’s #1 ground mount solar data and development platform, automating and optimizing the development and engineering workflows for firms that include Total, Enel, Eon, Nextera and Avangrid. HST offers a secure API framework and architecture around the software to allow applications that incentivize renewable energy production to achieve Energy Data, Payback Time, LCOE, IRR, and more data.
“The most progressive businesses want to implement solar energy with highly optimized design and functionality,” said Evan Caron, Swytch Co-Founder and Managing Director. “Our partnership with HST Solar is a natural fit, as it enables a more data-driven approach, informing users of the Swytch platform where and how they should operate to boost revenue streams.”
Swytch uses blockchain to bring together data, networks, and incentives for the world to finally adopt renewable energy at scale. The Swytch platform consists of an ERC20 token to facilitate exchange of production data rights, a Proof-of-Production protocol to verify data directly from the source, and an open-source “oracle” to aggregate data and allocate incentives based on actual environmental and economic impact. As the Swytch network grows, so too will the value of the underlying data, maximizing the collective potential of its participants to drive exponential change in how energy markets are structured and function.
Swytch is a blockchain solution for accelerating a sustainable and equitable energy future. The Swytch platform includes token-based incentives, open-source data aggregation, and unique blockchain protocols to secure and verify energy production data.
Swytch fills the gaps in today’s marketplace for verified renewable production and data sharing. By utilizing an ERC20 compliant utility token, Swytch will incentivize investments in sustainable assets. In addition, the data aggregation and protocol layers will also revolutionize the way information is collected and shared in the renewable energy market. Applications in infrastructure include grid-scale, residential, and storage systems across all sources of renewable energy (wind, solar, hydro, etc.).
From large-scale industrial power infrastructure to small residential installations, Swytch Tokens can be generated through the production of renewable energy. Swytch and its partners are building out the technologies and community necessary for ensuring data and tokens can be freely exchanged within the network. The Swytch platform was created by the Token Commons Foundation, a non-profit foundation based in Zug, Switzerland.
About HST Solar:
HST Solar is pioneering a new way to reduce the cost of photovoltaic power through the industry’s only end-to-end solar design and engineering platform. After users input site data, boundaries, and company-specific inputs, our cloud-based platform allows contractors and developers to design and engineer high performance solar projects using multi-dimensional optimization techniques previously not applied to the industry. Combining automation and optimization techniques, our HST Inside™ is the industry’s only algorithm-based PV system design software that can build and compare hundreds of permutations of PV system designs, using a proprietary search function to search through the best global solution for a system design. To do this it pulls data from extensive module, inverter, wiring and other component databases and puts them into proprietary combinations. The result it yields can be 20%-40 reductions in the cost of solar power.