Cryptocurrency mining could become the new face of energy storage. Here’s how
www.weforum.org
Renewable energy generation often breeds excesses that ends up being wasted rather than consumed. On a sunny or a windy day, when solar panels or wind turbines generate power that exceeds users’ demand, if the grids are overloaded, clean energy is abundantly wasted Today, it is mostly cheaper to was
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- Renewable energy generation often breeds excesses that ends up being wasted rather than consumed. On a sunny or a windy day, when solar panels or wind turbines generate power that exceeds users’ demand, if the grids are overloaded, clean energy is abundantly wasted
- Today, it is mostly cheaper to waste excess renewable energy than to store it in typical Li-ion batteries.
- Embracing new approaches, such as mining cryptocurrencies with excesses of renewable energy that have been generated, has tremendous potential to address financial and technical gaps.
- It can convert waste to value and reduce financial risks.
- The returns of cryptocurrency mined in this way could stimulate a wider range of additional investments in renewable assets.
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