CAPELLA- REVOLUTIONISING THE ENERGY INDUSTRY THE GREEN WAY
Climate change and its devastating effects are no longer news to most people in the world today especially those living in places where the effects are already seen and felt - the consequences of about 75% of our energy needs coming from fossil fuel burning and nuclear sources. The greenhouse effects being observed which are by-products of this massive amount of atmosphere pollution by the greenhouse gases are a real and present danger that government and civil society groups the world over are crying out loud against and tirelessly trying to increase awareness about as well as trying to reduce their continuous escalation by making efforts to reduce the use of these fossil fuels by seeking for alternative energy sources.
Governments all over the world are also faced with the heavy task of carrying out renewable energy schemes in order to help gently edge the world away from a fossil fuel era. unfortunately, this has not proven to be an easy task as apart from the huge capital needed, their little or no incentive for people to switch from their sources to other sources.
Before the advent of renewable energy and the clean, safer, sustainable and cheaper energy it brings, the human race was faced with the decision of either to let go of its present humongous need for energy and its various applications and save the world or maintain the status quo and enjoy its present comforts at the detriment of the planet we live in. Thankfully, the advent of renewable energy has presented a third option; use cleaner and more sustainable forms of energy, spend less doing so and still have access to equal energy generation potential (if not more).
WHY THINGS NEED TO CHANGE
The dire need for a shift in the present energy generation system stems from not just the environmental effects but also from the economic and social effects. The world over, the task of energy supply is largely restricted to a collection of large multinational energy companies who then use the power within their reach to determine the dynamics of the market and hence, the price consumers have to pay to enjoy the supply of energy to their respective locations.
For example, in Africa where I live- Nigeria in particular, the problems of high tariffs and epileptic power supply caused by unequal distribution of electricity from the national grid as well as poor transmission and distribution capacity are still very real challenges faced with more and more companies going out of business because of poor power supply and exorbitant cost of generating their own power using fuel-powered generators. So my discovery of CAPELLA, a project aimed at widening the renewable energy market by making it more lucrative for producers, providing more competitive prices for energy consumers and cutting down drastically wastages faced in the energy sector filled me with a sense of hope that at last the solution to the myriad of problems facing our power sector is finally here.
BRINGING IN THE CAPELLA SOLUTION
So how does CAPELLA aim to do this?
CAPELLA is hoping to make production and purchase of renewable energy a lucrative and easily conducted business by use of evolution in technology to do the following:
ENCOURAGE PRODUCTION: with the knowledge of its potential profitability, local consumers can decide to turn to producers and suppliers of renewable energy by first producing their own energy needs using various renewable energy sources available and then selling off the excess to potential consumers on the platform created by CAPELLA, an AI-powered App known as the “matrix” thereby making them “producers.” Upon take off, for every 1 kWh of renewable energy received, the consumer pays 1 Capella to the smart contract contained in the platform which in turn rewards the prosumer by minting of new coins to pay them for the energy supplied. Therefore, more and more prosumers will be willing to join this network as they are enticed by the fact that they can produce their own power without relying on an energy company and also get paid for the excess produced.
REDUCE WASTAGE: the use of “smart meters” that calculate the specific energy needs as well as the amount of energy consumed by each consumer and relates this information to the producer makes the whole process more efficient. Also, excess energy produced can be stored by a network of prosumers brought together by the platform in a central location to be sold or used at a late time.
INFRASTRUCTURE MANAGEMENT: matrix also comes with the function of monitoring energy grids giving information about their health status and efficiency so as to aid both prosumers and their customers take the best course of action. Using Big Data analytics, the platform also helps predict the weather forecast for the prosumers enabling them to plan ahead for events that could affect the energy supply chain, thereby, reducing the impact and possible losses.
TRANSPARENCY: this is a very important advantage of using the Capella platform as by taking advantage of the blockchain technology, security is ensured as all transactions once confirmed are very nearly impossible to alter. this creates an open atmosphere and trsut in all users of the platform in that they are not taken advantage of or cheated in any way. Also, records of transactions of energy supplied and purchased can be easily tracked, obtained and confirmed.
USE OF FUNDS
SUMMARY
In summary, what CAPELLA aims to do is bring reliable, sufficient and cost-effective renewable energy to the doorsteps of consumers at the click or tap of a button. Looking at the impressive list of brilliant minds with many years of experience in their respective fields that make up the CAPELLA team, I am filled with confidence that they are capable of this herculean, though, lofty task and I sincerely hope they are given all the needed support towards this by governments, multinationals, civil society groups and just about anyone that has the interest of this lovely planet of ours at heart. This project does not only benefit the populace by increasing income generation, fostering business and creating more jobs thereby reducing incidences of unemployment, closing companies, and escalating crime rates, but also reduces the burden of energy generation from governments that generate electricity for its citizens such as that of my country, Nigeria.
The gradual movement of the world technology towards finding more efficient ways of doing things just as the Capella project is trying to achieve is a very welcome development to balance the current imbalances widely seen in different sectors of the world.
FOR MORE INFORMATION
To check out and learn more about this wonderful revolutionary project, here are some of the links through which they can be reached:
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