Eloncity is a model for the planning, constructing and operating community-based renewable microgrid, which means:
➢ Community-centric - the community members coordinate with each other to exchange energy and share energy equipment costs-benefits (e.g., solar PV, battery energy storage system (BESS), energy management system, and others) to access more reliable and cost-effective local energy supply, to maximize the utilization rates of the installed equipment for accelerated return-of-investment (ROI) and other benefits. The community-based approach uses the collective resources of the entire community to implement a project which might be too costly to be done on an individual basis or must rely on funding from a sponsor’s whose interests may not completely aligned with what deem important to the community.
➢ Renewable-based – use locally available renewable resources, such as solar or wind power, to produce electricity locally to fulfill the community energy needs.
➢ Microgrid – means that community energy system is designed to be capable of operating in island-mode AND grid-connect mode. Island-mode means that the community can operate on its own which the community energy needs are fulfilled by the energy produced locally in the community. The island-mode keep the community safe and operational during disaster or emergency events when the energy services from the main grid are disrupted. The grid-connect mode means that the community energy system is connected to the main-grid allowing the community to import energy from the main-grid to supplement the community-produced energy. In the connected mode, the community energy system can provide energy services to the main-grid when the main-grid is failing or does not sufficient localized energy supply to support the main-grid operation reliably. The grid-connect mode is important because it allows the community to leverage resources from the main-grid because it offers the opportunity for the community to generate revenue when the community provides energy services to the main-grid while allowing the community to import energy from the main-grid when it makes senses financially.
Eloncity model integrates advanced technologies, best practices and lessons learned to create a scalable and replicable design for unleashing the potential of the community-based renewable microgrid to attain an energy future safe, secure, healthy, sustainable and equitable, and more vibrant regenerative energy future. The Eloncity model builds upon four key pillars:
- Decentralized renewable energy technology architecture, which comprises
● Blockchain technology platform that provides an open secured and distributed ledger for efficient recording of energy transactions and the sources of electricity generation in the community, renewable or fossil-fuel;
● Crypto utility token (Eloncity Token or ECT) facilitates local energy exchange and incentivize investment in the battery energy storage system (BESS) for storing newly harvested renewable energy, as well as creating an open global marketplace that enables communities around the world to access advanced renewable energy products and services;
● Intelligent networked BESS harmonizes local electricity supply-demand and flattens intermittent renewable generations into predictable, reliable and dispatchable renewable resources;
● Customer-sited and community-based renewable energy generators, coupled with intelligent networked BESS, in-front-the-meter BESS and behind-the-meter BESS, fulfill all or nearly all the local energy demands;
● Community DC switching power network(s) eliminates the congestion on the last-mile networks and allow energy to flow from any party (or parties) to any other parties. The costly AC power ancillary services are no longer needed while the shared BESS makes 24x7 renewable energy reliable and cost-effective, and
● DC appliances enable the community to use the renewable powers more efficiently by mitigating losses from repeated AC-DC-AC conversions.
Community development ensures the successful planning and implementing of the Eloncity model at five fundamental levels; (a) community adoption; (b) social application; (c) quantifiable salient impacts; (d) localized roadmap for step-by-step deployment and continued growths; (e) leverage lessons learned to hone processes for accelerated wide-scale replication of the Eloncity model.
Combined performance-based projects with revolving loans create an effective strategy for mobilizing the private market capitals for wide-scale deployment of the Eloncity model.
Collaborative and equitable regulatory framework facilitates leveled-field markets to mitigate imbalanced market powers to unleash market innovations, protect the energy consumers, and support local economies
Advantages of the Eloncity model
➢ Open and Secured Energy Transaction -
➢ Unified and Efficient Energy Marketplace
➢ Greater Reliability
➢ Lower Costs
➢ Increased Safety
➢ Societal Benefits
➢ Societal Benefits
➢ Adaptation
➢ Low-emission Vehicles/ Transportation
➢ Economic Development
➢ Environmental Benefits and Public Health
*Why do you have to use DC network？
A: DC network is much easier to connect. There is no frequency to follow or phase to synchronize. As long as the voltage is similar, it is very easy to tape into DC network.
When will your product/platform available?
*Eloncity implementation roadmap delineates into three primary phases.
➢ Phase 1: Q4’2014 to Q2’2018 - The Foundation has been collaborating with a coalition of global partners to develop key building block technologies for the Eloncity model.
➢ Phase 2: 18 to 24 months from Q3’2018 - The Foundation will collaborate with various authorities, organizations, companies, and community members to demonstratively scale the Eloncity model in communities within North America, Latin America, and Asia by using blockchain technology.
➢ Phase 3: From Q4’2022 - The Foundation will focus on mass market transformation to proliferate the Eloncity model to all targeted markets globally.
- Is Eloncity an open source platform?
Eloncity platform comprises reference designs for the full suite of both hardware and software products necessary for deploying fully operational renewable microgrid. These reference designs are royalty-free. But they are not open source.
*What is Eloncity Token (“ECT”), and why we need it?
Eloncity token is a utility token. ECT’s key functions:
➢ To facilitate local energy exchange;
➢ To incentivize investment in ECTP-compliant battery energy storage system (BESS) by rewarding BESS-operator/owner with ECT for storing newly harvested renewable energy in their ECTP-compliant BESS;
➢ To create an open global marketplace that enables communities around the world to access advanced renewable energy products and services with ECT.
We need ECT because ECT facilitates an open market that enables communities around the world to exchange energy and shared-resources locally and also to access the unified network of global renewable energy products and solutions. Similarly, renewable product and service providers benefit from a more open market.
*Can I mine ECT?
No, all the ECT tokens are pre-minted. There is a “mining” mechanism to award ECT tokens to customers who store renewable energy using ECTP-compliant BESS. The “mining” functions are written as long-running smart business contracts on an enhanced Ethereum blockchain technology platform to support high-volume high-speed transactions.
*What is the total number of ECT?
The total number of ECT is 1,000,000,000.
*What is the total number of ECT available for private contribution and public contribution?
The total number of tokens for contribution is 320,000,000 ECT.
*Is ECT a security token or a utility token?
ECT is a utility token.
*Do you have a bounty campaign/program? If yes, how can I participate in it?
Yes. You may participate in our bounty campaign through the link on the homepage of our website at eloncity.io.
*When can I exchange ECT?
We are working to list the tokens on two or more exchanges, and we will publish the news on social media after any listing date is fixed.
TOKEN DISTRIBUTION
Volume: 1,000,000,000 ECT Finite amount of ECT created. No inflation.
Maximum token amount for contribution: 32%
Mining for stored renewables: 32%
Team: 7.5%
ELONCITYLab: 14.5%
Marketing: 14%
Soft cap: $10,000,000.
Hard cap: $33,000,000.
*Private contribution : $19,000,000 (Open)
Vesting period: 9-months locking position with 10% of token released at the same time as the main token release (six (6) weeks after the completion of the main contribution). Thereafter, 10% token released per month in 9 consecutive phases.
1 USD = 9.8 ECT (Only ETH and BTC are accepted, Value will be pegged to USD listed on the coinmarketcap on the day of the contribution. Contribution starts from $200,000 USD and maxed out at $600,000 USD, 15% off discount applied).
*Cornerstone contribution: $6,000,000 （N/A)
*Public contribution: $8,000,000 （N/A)
Website -
http://eloncity.io/?utm_source=Facebook&utm_medium=Bounty&utm_campaign=F000298