# 7EnergyDAO ## About the project 7EnergyDAO is the smart contract based part of the community-driven 7Energy platform which enables P2P 🤝 trading of renewable ♻️ energy within energy communities, without the need for any bank 🏦. ## **What we need to solve** Climate change driven by the excessive burning of fossil fuels 🛢️, and currently, 75% of the 175,000 TWh of primary energy we use goes to waste. By widely implementing electrification without compromising modern lifestyles, we can save 50% of that primary energy and create a sustainable and healthy energy system for everyone. 😊 Energy communities are critical to solving the gargantuan task of reducing carbon emissions fast enough and become cabon neutral by 2050. Therefore, the EU 🇪🇺 passed the "[Clean energy for all Europeans package](https://energy.ec.europa.eu/topics/energy-strategy/clean-energy-all-europeans-package_en)" in 2019 and now Austria 🇦🇹 is one of the fronteers in the EU to revise the heavily regulated energy sector and make energy communities a reality. As you probably can imagine, there is a high administrative burden on energy communities, e.g. forming a non-profit organization, data transfer integration, various processes to add and remove people from the energy community, accounting and payment, tax filling and payments, etc. The frontrunning pioneers 😅 are frequently venting their frustration about the complexity and the callenges they face, like they did on the [Energy Communities Conference 2023](https://youtu.be/oo5-HXvk6kk). {% embed url="" %} Austrian 🇦🇹 Energy Communities Conference 2023 (German) {% endembed %} ## **Our Solution** The 7EnergyDAO utilizes all the benefits of blockchain which makes the financial management of energy communities much easier and far less costly. 🥰 Once a member joined the non-profit energy community, it can determine the use of funds from the cooperatively governed treasury through the 7Energy share token. Producers 🌞 receives their money for sold power fully automated, daily. Consumers 🛍️ pay their consumption automaticaly through an allowance with their wallet. All capital flows happen fully automated P2P between the members and the tax filling 🧾 will be automated as well, once all the processes are in place. The payments for external service are automatically deducted as well and will be managed through a [Monerium](https://monerium.com/) account, so that an interface to the banking system 🏦 can be provided as well.

Visualization of the extended automated payment solution for the 7Energy energy community

## **What makes us special?** We believe in democratizing and decentralizing energy will contribute enourmously to the fast deployment of renewable energy sources and therefore reduce emissions. 📉 With our approach of using blockchain for what is was introduced - MONEY - it can disrupt the business model of banks whose main innovation is still the introduction of new fees. 💸 Energy communities are then not just reducing the dependence on utilities, but also on banks. We would call that a WIN-WIN-WIN situation. 🫶 ## **Is it globally useful for everyone?** Yes, and we invite everyone to have a look at the currently open-sourced [contract code](https://github.com/d10r/7energy-contracts) for the 7EnergyDAO. Wherever you start an energy community, you will have to comply with national regulation, but at the end you will be able to conduct P2P 🤝 payments and handle community investments via the treasury in an efficient manner. We also won't stop with Austria 🇦🇹 only, but as already mentioned, this is a frontrunner country and we look forward to help with our solution also in other EU 🇪🇺 countries. ## **Our Vision** We firmly believe that we can still make the Paris Agreement a reality by empowering everyday people to install renewable ♻️ power production. This will ensure that our children and grandchildren will have a better life with less pollution and more happiness. 💚 Solution wise we believe that it needs further abstraction of blockchain specific user interfaces, like "Connect Wallet" for a real breaktrough. Be assured, we are already working on that too. 😊 ## **Open source** To facilitate daily P2P 🤝 energy payments, our smart contracts are open source ([Github](https://github.com/d10r/7energy-contracts)). We believe this is crucial for widespread use of our tech stack in different parts of the world and for speeding up the transition to renewables. ## **How will the funds be used?** We have been initially supported by [netidee](https://www.netidee.at/7energy) for the development of the current website and the smart contracts you find on Github. Since then some activity was funded by [CLUE](https://project-clue.eu/), which was an international EU 🇪🇺 funded project. Gitcoin is planned to be the main source of funding for the near future: * **Alpha Round:** Donations help to support the 7Energy v2 development (soon to be released) where we specifically improved the smart contracts and website UI. * **Beta Round:** Donations will help to support the development of the automated accounting and payment runs as well as the extension of being fully independent from banks. ## 🎯 Achievements * Winner of the Austrian Blockchain Award ([NFT Certificate](https://opensea.io/assets/matic/0x5400bfc0499c5ccbe5dab9db7d587cf575e51cd1/12)) * Presenting 7Energy at ETHPrague ([Youtube](https://youtu.be/UtBtGACPv1E)) * Expanding the vision of the project to be globally applicable * New community members planing to build 1,000+ kWp of new solar, enough to power 500 average households * Building and testing solar power sets and integrating measurement devices