'Blocktricity' Illuminates New Energy Solutions for Paris
The Paris Climathon centered on solutions to mobilize investments in housing renovation, in order to leverage energy efficiency and improve the quality of daily life.
Thousands of developers, entrepreneurs and students joined the movement to decarbonize our cities on Global Climathon Day 2019! For the 'City of Light’, the Paris Climathon centered on solutions to mobilize investments in housing renovation, in order to leverage energy efficiency and improve the quality of daily life. Transformative ideas for a climate-resilient capital came to life during the 24-hour global hackathon, organized in partnership with Finance for Tomorrow.
Energy efficiency plays a crucial role in the ecological transition, as buildings represent around one-quarter of global greenhouse gas emissions. Increasingly, new buildings have an extremely reduced carbon footprint and can even produce their own energy! However, there is an urgent need to scale up the renovation of ancient buildings, in order to reach the objectives of the Paris Agreement and to preserve the patrimony of European cities.
Unfortunately, due to low energy prices and a lack of efficient carbon pricing, it is difficult to justify the heavy costs of building renovations. In France, buildings represent 25% of energy consumption and 20% of CO₂ emissions. While there is a strong political will to improve the situation and dedicated financial resources available, the solutions are not developed at scale and thousands of households live in a situation of "energy poverty". Facing this dilemma, how do we mobilize investments to renovate residential buildings in France?
'Blocktricity Asset Management' is a blockchain solution to help fund energy assets such as batteries, PV panels or IoT to improve energy efficiency at the local level. Every asset is tokenized and can be tracked throughout its lifecycle, thus enabling security for third-party investors. The market is currently saturated with large-scale projects like wind and solar farms, but limitless potential remains untapped in converting nonagricultural areas (roofs or parking lots) into energy-producing assets. The solution combines energy distribution management and energy financing to help finance energy communities across France.
"We use a lot of finance and fintech tools to build a more sustainable system with the blockchain,” explained Jean-Baptiste Frayssé, team member of the winning Climathon solution.
Meet The Team
Jean-Baptiste's background as a blockchain analyst inspired Blocktricity Asset Management long before the Paris Climathon took place. But his team members Olivier Lisowski and Alix Bouxin, both energy analysts, have pushed the solution further than ever before.
The team is currently working with the municipality of Vieux, France and the metropolitan government of Gaillac-Graulhet to scale the energy community experiment to potentially 85,000 citizens. On the contrary, the solutions offered by large energy developers negatively impact agricultural land and tourism, posing a problem for citizens seeking to engage in an energy transition.
EIT Climate-KIC's annual global Climathon mobilizes citizens to help find transformative solutions to decarbonize cities. Worldwide, the top 10 winning solutions and five forward-thinking cities will take center stage at the Climathon Global Awards during the ChangeNOW International Summit in Paris. It's a day to celebrate this international movement that brought citizens and cities together to co-create and solve the local climate issues.