The energy industry has always been an industry with centralized authorization and operation. While conventional fossil fuel generates cheap electricity for us, it also causes severe and even irreversible pollution and damage to the environment. In recent years, the world’s international powers have begun to realize the problems caused by the consumption of conventional fossil fuels, such as global warming and pollution, many governments have issued policies to promote the development of renewable energy projects. As a result, the renewable energy industry has made great progress and development, and the cost to construct renewable energy projects is decreasing gradually. Because of this, more renewable energy power projects were built than conventional fossil fuel power projects. In 2016, 60% of the newly-add global power capacity came from renewable energy. Although renewable energy has made some achievements recently, there are still some problems that need to be solved during development. First, comparing to conventional fossil fuel power plants, the initial capital demand for renewable energy projects is relatively high. Most renewable energy producers want to decrease the initial equity investment and do project financing to make more profit. With the gradual decrease of government subsidy for renewable energy projects, investors enhance the requirement of project financing. Therefore, renewable energy producers are competing fiercely for the investment, making it difficult to obtain the project financing. Meanwhile, in the model of traditional financing, some financing institutions like banks are conservative, and they don't know the industry technology and standard of renewable energy very well, so comparable to a conventional fossil fuel power generation project, a renewable energy project is more difficult to get financial support. High initial financing requirements at the beginning of projects can become one of the most insurmountable barriers to build renewable energy projects. On the other hand, investors with the capital have created the demand to make more investments in renewable energy projects, but they can't find the investment channel. Information asymmetry exists between the investor and the renewable energy producer. For some middle and small size investors, even if they have the channel to invest in renewable projects, they don’t have the ability to screen and evaluate the project. Then for middle and small size investors, if they invest in renewable energy projects, they can only obtain the return of the investment through using the electricity generated by the project or obtaining the currency of the project location. Because of this limitation, the investors are normally concerned about whether or not they can obtain the expected return on investment in the future. The limitation of geography and fiat currency become the main obstacle to investing in renewable energy projects. Third, because the electricity generation of renewable energy project is unpredictable and fluctuates from time to time, it is difficult for power grid operator to balance the power generation and load when a large number of renewable energy projects are connected to the grid. Inadequate experience in managing renewable energy grid connections and lack of smart grid technology causes power utility companies a lot of issues to deal with. EtainPower aims to solve the predicament and challenges of the global electric power system: EtainPower is building up a blockchain based renewable energy trading platform. Through blockchain and smart contract technology, EtainPower will tokenize the renewable energy revenue and help renewable energy producer complete project financing. EtainPower will build a decentralized, fair and transparent financing environment, reduce financing cost while improving efficiency for project financing, and therefore promote the development of renewable energy. EtainPower will build the effective channel for global investors to access and invest in renewable energy projects, EtainPower will conduct due diligence to ensure project quality and the investor’s benefit. Project investor can either change the energy token to the EtainPower token or electricity or use the energy token to purchase various services within the EtainPower ecosystem. Furthermore, EtainPower will make use of AI technology to optimize renewable energy grid connection, create smart grid technology to ease the adoption of renewable energy, and enhance the elasticity of the power grid. EtainPower puts ample effort on reforming the traditional centralized electric power sector, connecting renewable energy producers, investors, consumers and power grid operators in the global range to build up a totally new AI energy ecosystem driven by the blockchain.
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