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Energy poverty is currently one of the major concerns of national governments as first world countries face severe energy shortages. For example, a Eurostat report showed 35 million European Union (EU) citizens, which account for 8% of the EU population, could not use heaters in the winter of 2020. In addition, the Russo-Ukrainian war and disruptions in the supply chain have led to inflationary pressures, leading to unsustainable energy prices.
There are several reasons why the energy crisis is no longer limited to underdeveloped countries. To begin with, energy production is still heavily dependent on fossil fuels such as coal mines and deep sea oil production. Profit-based mega-conglomerates have monopoly control over these resources, thereby unilaterally setting energy prices. In addition, structural difficulties support such a high level of energy poverty.
To deal with the energy crisis, governments and companies need to shift to sustainable energy practices. Before proposing sustainable energy solutions, it is important to understand the structural problems of the energy sector.
Analysis of Structural Difficulties in Energy
At present, energy infrastructure is a costly area with large power plants, substations, transformers, transmission lines and distribution networks. Companies require huge capital investments to create a network of production and distribution of electricity. If low-income families cannot pay high electricity prices, companies will not be able to recoup their costs.
Geographic location and topographic costs also determine energy prices. Building electricity infrastructure in a remote area covering long distances over rough terrain is incredibly expensive. Moreover, inhospitable terrain and unsuitable environments will discourage engineers from designing and maintaining electrical networks all year round.
To overcome these structural problems, the industry must find innovative technological solutions.
Blockchain technology can solve structural problems
The above problems require an easy-to-install, compact and grid-independent energy solution that does not require technical supervision. Elan Future, a blockchain-based company, offers such technologically innovative solutions that reduce energy costs. Elan products are even better than massive solar, hydro and wind farms, which also require expensive heavy equipment.
For example, Elan’s Apollo is a sleek plug-and-play device that uses patented parametric resonance technology to amplify the energy output. It is compatible with all energy sources and generates 10 times more electricity, thereby saving energy costs for households, industry and electric vehicle batteries. With low maintenance costs, anyone can use the Apollo even in difficult terrain without spending more money.
Another Elan product, Model 2, uses sophisticated negative ion technology to generate AC/DC power from ambient air. Its slim design helps consumers use it anywhere at no extra cost. Another Elan device called Bia easily plugs into a home’s electrical panel and reduces the energy consumption of heating elements by a staggering 97%.
Elan’s blockchain, “The Chain”, connects all Elan devices so that users can control their devices remotely. Moreover, the Elan token powers the grid and consumers use the tokens to buy Elan products and pay for electricity. They can also send Elan tokens to low-income people through the Elan mobile app to generate their own electricity.
In this way, Elan Future empowers people to move from a corporate-controlled electricity generation model to a cleaner, greener alternative. With Elan technology, a fair and sustainable energy model has become a reality.