Introducing Rowan Rewards

One of our key product offerings is the Rowan Rewards Package. We can break down the benefits of this offering by highlighting the impact for the various stakeholders within the energy market.

PV Owners – customers

When a customer joins the Rowan Rewards offering they are entitled to receive £0.10 per kWh within their package size of renewable energy they produce. For a typical PV solar installation this is around £450 per year as an additional revenue stream. Solar panels are a significant investment for most residential households and affordability is usually quantified using the term ‘payback period’ which essentially refers to the amount of time it takes for the cost savings from solar to equal the investment cost. A typical solar PV installation with battery storage included amounts to a payback period of approximately 15 years, but with a Rowan Rewards Package this can be reduced to just under 10 years.

Evidently this is a considerable advantage for new solar customers in terms of the return on investment. To join the Rowan Rewards Package a customer will have our novel hardware installed, the MID SmartMiner. These SmartMiner devices are installed behind the meter box and record immutable assured data which we can use to accurately reward energy generation. These devices also double as a blockchain validation server for our custom-built Rowan Blockchain, which therefore runs on completely traceable pure renewable energy – a feature so far unseen in the web3 landscape.

Solar Installers

The Rowan Rewards Package offers enormous benefits for independent solar installer companies. The solar industry is characterised by large fluctuations in demand which has been colloquially called the ‘solar coaster’. The seasonality present in the solar market as well as the fluctuations that arise from cost, technological advancements and policy changes has created a challenging environment for small companies to navigate. When the Feed-In-Tariff ended in the UK in 2019 it led to hundreds of companies being forced to close down, just as one example of these factors.

The Rowan Rewards Package provides small companies a product to sell that is independent of these fluctuations. Our hardware can be professionally installed by these companies to both new and existing solar installations and so can act as an additional product for all existing customers. Additionally as mentioned in the previous section, the package unlocks greatly reduced payback periods for residential solar PV owners. Being able to offer this product to their existing customers or with any new installation provides a competitive advantage in a highly competitive industry.

Solar Distributors and Wholesalers

As the demand for the Rowan Rewards Package increases, it introduces the need for a complex supply chain to distribute SmartMiners across a vast geographic area. Small solar installers do not have the capacity to store and move large quantities of stock. They also do not want to buy the product in bulk and need to ensure one customer order equals one SmartMiner ordered so as to ensure stock isn’t just lying around not being utilised. If they do receive an order they want the best possible service for their customers which means the SmartMiner has to be delivered rapidly and it’s these large distributors that have the ability to distribute stock the fastest. Distributors therefore play an incredibly important role and capitalise off the success and demand for the Rowan Rewards Package by selling stock to the solar installers for each order they receive. Most distributors also conduct many hardware installations themselves and so benefit from the reduced payback periods in terms of competitiveness.

What it means for Rowan Energy?

For Rowan Energy we view the rewards package as paying a customer for their data that we will then transform into a new generation of fully traceable and fully assured carbon offset certificates. Our certificates are among the highest quality in the world due to the strict processes and blockchain technology implemented. This data will also be used in the future to enable scalable decentralised energy trade. A key requirement for enabling decentralised energy trade at scale is onboarding tens of thousands of homes to create a large pool of aggregate energy supply and so these incentives allow us to blitz scale the network in order to reach this goal as fast as possible.