Ideally, solar-generated electricity could power bitcoin mining in the future. It would be the perfect marriage of clean solar-generated electricity powering bitcoin mining internationally. The concept sounds great, but one analysis of this ‘ideal marriage’ says it does not work today because the large energy needs of bitcoin miners makes it inefficient. If it succeeds in the future, it would represent a lucrative new revenue stream for solar installers such as Solar Integrated Roofing Corp. (OTC PINK: SIRC).
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Solar’s New Revenue Stream Offering Alternative Clean Electricity To Power Cryptocurrency Mining Ma Work In The Future; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Expands Its National Footprint In Solar
“Some say solar power is the future of cryptocurrency mining, but this can be disputed as some countries are climatically colder than others,” one analysis finds.
So miners seeking to be green and save costs from the central power grid are looking at other alternative energy — from natural gas to even hydroelectric power. Solar would seem to be part of the alternative energy mix powering future bitcoin mining facilities. Only the future will tell. Solar’s New Revenue Stream Offering Alternative Clean Electricity To Power Cryptocurrency Mining May Work In The Future; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Expands Its National Footprint In Solar.
The important news is that cryptocurrency mining is significant as Bitcoin and other mining results are gaining acceptance by Central Banks as legitimate sources of currency. A greater number of localized governments are actually paying employees with cryptocurrency — and offering year-end bonuses on valuation gains made in digital currency. This is already happening in Miami.
Solar can play a role in retiring the single biggest achilles heel of bitcoin mining — the tremendous need for power. Accessing the central power grid makes the gains of Bitcoin and other cryptocurrency coins face a headwind of large, uncontrolled mining expenses.
Ideally, solar power could play a key role in this protocol — but its power, even with rechargeable solar batteries — is uneven and inefficient to store against heavy usage.
“Ultimately, cryptocurrency mining will have to begin to intensely explore and use renewable energy as this will take one of the thorns in the regulator’s flesh, possibly allowing them to consider cryptocurrencies like Bitcoin as legal tender,” the analysis finds.
A new Wood Mackenzie report noted that solar could overcome headwinds if BBB passed in its current form. Solar deployments would triple by 2026 and help offset an additional 83 million tons of carbon. BBB is dead, but may pass later in separate ‘chunks.’
Headwinds to BBB segments include supply shipping postponements and pricing, the report finds. While solar prices of components dropped 12% between Q1 2019 and Q1 2021, the Report says price spikes in the past six months have erased all these savings in this two year period. Solar’s New Revenue Stream Offering Alternative Clean Electricity To Power Cryptocurrency Mining May Work In The Future; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Expands Its National Footprint In Solar.
Michelle Davis, principal analyst at Wood Mackenzie and lead author of the new report, says, Federal tax credits in BBB would help stimulate solar sales and deployments in nascent states. For example, Texas would add 7 GW of additional solar capacity over the baseline forecast by 2026, reaching 44 GW of cumulative capacity
Another report sees solar rooftop and other renewable energy sources growing over the next three years to generate at least 30% of the nation’s capacity. New solar panel technologies and mid-January solar incentive grants are helping drive the growth in solar installations and more renewable energy, site ENRCalifornia recently reports. These positive moves are tailwinds for solar installers, such as Solar Integrated Roofing Corp.(OTC PINK: SIRC). Today, renewable energy only generates for 25% of the U.S. total capacity.
The move within three years to generate 30% of the nation’s electrical capacity — from just 25% today — needs momentum from new funding and technology. This includes incentive awards for new rooftop and small-scale solar projects.
Also, new technology can bring down installation costs.
Solar and other renewables are generating a greater percentage of the nation’s capacity needs. According to site ‘Bring Me The News,’ electric rates have jumped some 30% over the past 10 years in some states. That makes solar not just a conservation buy, but also an energy efficient purchase. For bitcoin miners, it makes any alternative energy source — solar, hydroelectric, wind — attractive as a means of offsetting significantly higher electric rates.
Solar and roofing remain core businesses for SIRC. Its work-around can mean potential buyers of solar systems can higher the price with renewable solar batteries, but long term beat higher energy costs — while using carbon fighting rooftop solar.
Solar’s New Revenue Stream Offering Alternative Clean Electricity To Power Cryptocurrency Mining May Work In The Future; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Expands Its National Footprint In Solar
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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