A new cryptocurrency promoting green energy investing, SolarCoin aims to increase the adoption of solar energy by offering investors cryptocurrency rewards, and thereby promote sustainable energy production.
Plant owners can connect with the SolarCoin project to earn 1 free SolarCoin (SLR) token for every 1 MWh (Megawatt Hours) of energy generated. Is SLR a good investment though? After analyzing this crypto asset’s historical price and use cases, we will forecast a SolarCoin price prediction for 2024 – 2030.
History of the Price of SolarCoin
In 2014, SolarCoin was created by a group of volunteers who believed that solar energy is key to a more sustainable planet. SolarCoin was released in the same year as a tradable digital asset, which would reward investors who leverage solar panels and solar energy.
For every 1 MWh (Megawatt hour) of solar energy generated on the platform, people are rewarded with 1 SolarCoin (SLR). SolarCoin has a total supply of 98.1 billion tokens, with a circulating supply of 65 million coins.
In April 2014, SLR was launched at a price of $0.01 per token. By 2016, the price of SolarCoin increased to over $0.2 per token – equating to a price increase of 1,900%. By the end of 2017, this cryptocurrency which promotes sustainable investing provided further returns to investors.
From a price of $0.4 in October 2017, SolarCoin reached an all-time high (ATH) of $2.3 in January 2018. Since the cryptocurrency’s launch, investors have been rewarded with a return on investment of 22,900%.
However, this well-known, but volatile cryptocurrency instantly corrected following its ATH. By February 2018, SLR was trading at $0.45 – an 80% price correction in only 1 month. By July 2019, SolarCoin fell to the $0.01 mark for the first time since its launch in 2014. However, the cryptocurrency gained momentum in 2021 – climbing to a price of $0.12. SolarCoin is currently trading at $0.032 per token – which is more than a 3x price increase since its launch.
However, the token market has now been untracked. we went to CoinMarketCap and only found minor information about the token, which state that this token is up by 0.64% in the last 24 hours.
SolarCoin Price History Summary
- SolarCoin was launched in 2014 at $0.01 with a circulating supply of 65 million tokens
- SLR reached an ATH of $2.3 in January 2018 – a 22,900% price increase since its launch.
- The popular crypto corrected to $0.01 in July 2019, its lowest price since its initial launch.
- Currently, SolarCoin is trading at $0.0043 according to the data available at CoinMarketcap
SolarCoin Price Prediction 2024
Much of the information about SolarCoin has disappeared from the listing charts. We found on Reddit that SolarCoin is now the “Old SolarCoin” or SolarCoin classic, which is now not being traded on many cryptocurrency exchanges.
The platform, however, is active on Twitter, and there has been talk about how it is a viable cryptocurrency for traders looking for green investments. However, no other detail has been made present to the people since no one has expanded on those tweets.
We checked SolarCoin.org for more details and found that the official SolarCoin blockchain is no longer active. The site says that the grants in terms of SolarCoin are going to be issued through the Energy Web chain only.
And since SolarCoin is no longer listed on many cryptocurrency exchanges, it is suffice to say that it holds no value right now.
For now, it remains a niche crypto meant to give grants to those looking to establish solar panels in these areas. While the goal is noble, it doesn’t give much insight into where the token might go this year since no cryptocurrency exchange has listed it right now.
SolarCoin Price Prediction 2025
Unlike most well-known altcoins, SolarCoin has a real-life use case and application in industry. SolarCoin has also recently partnered with ACWA Power – a developer of electricity and water-based projects across the Middle East. The company will start using SolarCoin, as countries like Saudi Arabia look to leverage more sustainable forms of energy consumption and production.
SolarCoin has been granted in 54+ countries, and we’re optimistic about its long-term growth in the renewable energy market.
A strong performance in the coming years could see SolarCoin retake its original highs set in 2018. A conservative SolarCoin price prediction may see SLR token breach the $0.09 barrier and ascend to a price of $0.1 and beyond. However, as more energy-driven companies adopt SolarCoin, the token can reach a price of $1 and beyond by the end of 2025. A price of $1 will be over a 300% price increase from current levels.
SolarCoin Price Prediction 2030
Since the project launch in 2014, SolarCoin has always stated that it is working towards long-term growth. This project’s 40-year mission is to incentivize solar energy generation through its cryptocurrency, which offers green energy investing options.
Based on a proof-of-stake algorithm, SolarCoin uses just 0.0001% of energy consumption compared to Bitcoin. Due to the detrimental impact certain proof-of-work networks can have on the environment, we may see SolarCoin emerge as a top alternative.
The real utility being offered can help SolarCoin reach a high of $1 by the end of the decade.
Potential SolarCoin Price 2024 – 2030
The table below summarizes the potential SolarCoin (SLR) price prediction from 2024 – 2030.
Year of Price Prediction
Average Predicted Price
What is SolarCoin Used For?
Before investing in SolarCoin, it is important to understand the main features of this popular cryptocurrency. Therefore, the sections below will discuss and analyze some of the main use cases of SolarCoin.
Global Incentive for Solar Energy
Nick Gogerty, the CEO and Co-Founder of SolarCoin, states that this cryptocurrency project’s main use case is to promote solar energy usage over the course of 40 years. Due to the detrimental effects of using non-renewable energy, SolarCoin promotes solar energy generation by offering one of the most sustainable cryptocurrency assets.
Cryptocurrencies like Bitcoin use approximately 1,448 KWh to complete just one transaction – equating to around 50 days of power for the average American household. SolarCoin aims to reduce energy consumption in cryptocurrencies by using less than 0.0001% of the power compared to Bitcoin. The cryptocurrency does this by functioning on a Proof-of-Stake (PoS) algorithm – which utilizes token staking over mining.
Rewards Programme for Leveraging Solar Energy
SolarCoin used blockchain technology to provide a decentralized means of accelerating the clean energy economy. Solar energy producers, including NGOs, individuals or government-based organizations can benefit by endorsing SolarCoin as a means of sustainable energy.
Solar energy producers with these tokens are rewarded with 1 SolarCoin (SLR) for every 1 MWh of solar energy produced. More than 97 billion SolarCoins have been created to reward solar energy power plant users. Solar plant owners must register their plants with the SolarCoin foundation to receive some crypto-based rewards.
Thus, investors can contribute towards improving the environment while standing a chance to earn free cryptocurrency.
What Drives the Price of SolarCoin?
The sections below will discuss some of the main factors driving the price of SolarCoin.
Solar Energy Production Costs
While Solar Plant owners are rewarded with free tokens for every 1 MWh of energy generated, the costs are currently higher than the reward. For example, some parts of the world can generate 1 MWh of energy with solar plants for just $12. As the costs reduce, more and more people may pick up on this initiative to earn more SolarCoin.
If the price of SolarCoin exceeds the cost of production, investors automatically profit from their investment. Since Solar Energy is a growing initiative, investors may be able to see further profits in the future when the costs go down. Ultimately, the project aims to attract more and more people to contribute towards adopting Solar Energy, which will help reduce costs.
Unlike multiple other cryptocurrency projects, SolarCoin offers real utility to its investors. This has been witnessed from the multiple partnerships that the project has made. Recently, the SolarCoin project partnered with Saudi Arabia’s ACWA Power – a company that creates electricity and water-based projects.
ACWA Power will use SolarCoin to try and reduce non-renewable energy consumption. In the next 6 years, Saudi Arabia will use 10% of renewable energy sources for energy consumption. SolarCoin’s adoption is a sign that this cryptocurrency can partner with several countries and renewable energy-based projects in the years ahead. This in turn, can positively impact the SLR token price, which may increase with more Solar energy investors leveraging their platform.
Is SolarCoin the best Cryptocurrency?
Since SolarCoin is no longer listed on any cryptocurrency exchange and its market is no longer tracked, you must look for better alternatives to invest in. Ecoterra has emerged as a better green crypto venture for traders who want to earn through recycling.
Ecoterra is a cryptocurrency project that rewards users for recycling. Each time you recycle, you can use the Ecoterra dApp on your cellphone to upload the recycling receipt that you received from the reverse vending machine and earn ECOTERRA tokens.
ECOTERRA is an ERC-20 token that, in addition to being a tradable asset, can be used for accessing an educational platform that covers all the eco-friendly topics you are interested in.
The other use case of the Ecoterra token is for ESG companies that can gain access to:
- Impact Profile to test their ESG principles and see how much of a positive impact they have on the environment.
- Recycled materials marketplace to buy recycled raw materials from recycling companies.
- Carbon offset marketplace, which allows companies to buy carbon credits in an ethical fashion.
These three reasons have primed the Ecoterra presale for success. The token has already raised upwards of $2 million in less than a month of its presale, and the project is currently heading toward the final stages.
Our SolarCoin price prediction has covered the expected token price of this solar-energy-based digital asset from 2024-2030. Due to the growing number of partnerships and the need for solar energy in the long term, we are bullish on SolarCoin in the coming years.
Alternatively, investors can also consider Ecoterra – a new cryptocurrency that aims to reduce carbon emissions by rewarding people for recycling.