Solarana

Inspiration

In today's dynamic landscape, the triple threat of climate change, high interest rates, and inflation is reshaping how people manage their money. Balancing eco-consciousness and financial prudence has become a challenge.

While economic uncertainties make individuals cautious spenders, there's a growing desire to support solar energy initiatives. Many dream of having solar panels on their rooftops for a greener future, but financial hurdles make this aspiration difficult.

What it does

We’re introducing a platform that makes investing in renewable energy as easy as buying a solar panel for just €10. Our vision is to build a user-friendly broker for renewable energy sources, allowing anyone to invest in their preferred energy type with just a few clicks.

At the core of our platform is the concept of tokenizing privately owned solar panels. Each token represents a fractional ownership of a real solar panel and is managed transparently on the Solana blockchain. By owning tokens, users earn a share of the monthly savings generated by that solar panel. These payouts are calculated based on the percentage of tokens owned and the actual electricity bill reduction the panel provides:

Monthly payout = (Theoretical electricity bill – Actual bill with solar energy) × Token ownership percentage

This approach empowers individuals to participate directly in the green energy transition, while benefiting financially from solar energy production.

To get started, users simply log in through their Phantom wallet, ensuring a secure and user-friendly experience.

Users can register their solar installations, providing details such as the quantity available for sale, desired pricing, size, and age. This personalization allows individuals to tailor their solar investment strategy to meet their unique preferences.

A dashboard provides users with a clear overview of both owned and purchased shares, offering insights into profits made over the past month and throughout the entire duration of each investment. A dynamic chart further illustrates the impact of all acquired shares, painting a picture of the wins and losses.

Our platform not only empowers users to manage their solar investments but also pushes engagement with the broader community. Users can browse listings from others, making a marketplace where shares in diverse solar installations can be acquired.

Users can buy shares in other solar installations, becoming beneficiaries of the profits generated by the injection of solar energy into the power grid. Transactions, whether buying or selling, are executed securely through a wallet, ensuring a smooth and reliable experience.

How we built it

From the project's inception, our unwavering focus on blockchain technology drove us to prioritize frontend development. Beginning with the design phase, we used Figma to meticulously craft a user-friendly and visually appealing interface.

Given our team's proficiency in React, coupled with the decision to incorporate TypeScript, the frontend development path became clear. Leveraging Vite and RadixUI further enhanced our ability to create a seamless and responsive user experience.

In a departure from traditional backend structures, our approach diverged as our work interfaced directly with the blockchain. The decision to tokenize solar panels and facilitate their buying and selling through blockchain technology led us to the Seahorse blockchain framework. Its user-friendly interface and robust support proved instrumental, especially considering our team's limited prior experience in blockchain development.

For deployment, we embraced the efficiency of GitHub Actions, streamlining the process and ensuring a smooth integration of our frontend with the blockchain.

As the project progressed, the need for a centralized system became apparent. To expedite the implementation of this feature, we opted for Python FastAPI. The decision stemmed from the recognition that implementing such a system directly on the blockchain would have been time-consuming and unfeasible within our tight timeframe.

Challenges we ran into

Our team encountered a lot because of limited knowledge in blockchain technology. With little to no prior expertise, we dedicated to learn the theoretical and practical aspects of blockchain programming. The process was hard, requiring hard work to overcome the learning curve.

Integrating the blockchain into the frontend was another significant challenge. We had to find innovative solutions and a deep understanding of both things. As we looked for solutions because of the complexities of connecting the blockchain to our user interface, we were't always that successful.

Accomplishments that we're proud of

Our dedication to creating a visually appealing frontend stands out as a significant accomplishment. The design process in crafting a user-friendly interface shows our commitment to a good user experience.

Successfully navigating the development process from the beginning to completion shows our team's resilience and efforts despite of many challanges.

Our team spirit and determination not to give up, even when faced with difficulties, are an achievement. Tackling challenges and supporting each other throughout the hackatum show our perseverance.

Taking on a project with minimal prior knowledge and seeing it through to completion is something we are proud of. The courage to delve into the unknown and end with a successful outcome is something to be proud of.

We are happy to have been succsessfull and finish our project better than we expected.

What we learned

Our understanding of blockchains has significantly deepened. What beganwith a limited knowledge base and transformed into a comprehensive grasp of blockchain concepts and their practical applications.

In between the competitive atmosphere, we discovered the fun of collaboration and mutual assistance with other rivaling teams. Despite the competitive nature of the environment, the spirit of camaraderie prevailed, fostering an environment where teams supported each other, contributing to a positive and enriching experience for all involved.

What's next for Solarana

In the future we plan implementing a bonus systems and loyalty points for loyal customers. These features will reward individual users and also promote lasting collaborations between companies and their clients, making a dedicated community.

Venture capital firms can be allies to our platform, beeing strategic investors. Our goal is to catalyze growth in the renewable energy sector by connecting investors with promising solar projects, driving innovation and progress.

Financial considerations are a big problem, and our platform could reduce this by reduced repair costs through access to cost-effective insurance options. Companies are going to benefit from these insurance packages, ensuring the longevity and economic viability of their solar installations.

We see the significance of location in solar energy production. Our platform is evolving to incorporate site-specific factors, offering users valuable insights into expected performance based on sunlight hours. Informative infoboxes enhance decision-making, providing a better view of the solar investment landscape.