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Energy poverty is currently one of the top concerns of national governments as First World countries face severe energy shortages. This was shown, for example, by a Eurostat report 35 million citizens of the European Union (EU)., who make up 8% of the EU population, were unable to use home heating in winter 2020. In addition, the war between Russia and Ukraine and supply chain disruptions led to inflationary pressures, leading to prohibitive energy prices.
There are several reasons why the energy crisis is no longer confined to underdeveloped countries. First of all, energy production still relies heavily on fossil fuels, such as coal mines and deep-sea oil exploration. Profit-oriented mega-conglomerates have monopolistic control over these resources and thus determine energy prices unilaterally. Moreover, structural difficulties keep fuel poverty so high.
To tackle the energy crisis, governments and businesses need to shift to sustainable energy practices. It is important to understand the structural problems of the energy sector before proposing sustainable energy solutions.
Analysis of structural difficulties in the energy industry
Currently, energy infrastructure is a costly area with huge power generation facilities, substations, transformers, transmission lines and distribution grids. Companies need huge investments to build an electricity generation and distribution network. If low-income families cannot afford high electricity prices, companies cannot cover their expenses.
The geographical location and the topographical effort also determine the energy price. It is incredibly expensive to build power infrastructure in a remote area traveling long distances across harsh areas. In addition, inhospitable terrain and unsuitable environments will prevent engineers from designing and maintaining power grids year-round.
In order to overcome these structural problems, industry must find innovative technological solutions.
Blockchain technology can solve structural problems
The above problems require an easy to install, compact and off-grid power solution that does not require technical supervision. The blockchain-based company Elan Future offers such technologically innovative solutions that reduce energy costs. Elan products are even better than huge solar, hydro and wind power plants 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 energy delivery. It is compatible with all energy sources and generates 10 times more electricity, saving energy costs for households, industrial and electric vehicle batteries. Due to the low maintenance costs, anyone can use 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 the surrounding air. Its slim design helps consumers to use it in any place without incurring high costs. Another Elan device called Bia plugs seamlessly into a household’s electrical panel and reduces the energy consumption of heating elements by an astounding 97%.
The Elan blockchain “The Chain” connects all Elan devices, allowing users to monitor their devices remotely. Additionally, the Elan token powers the network with consumers using the tokens to purchase Elan products and pay for their electricity. You can also send Elan tokens to disadvantaged people through the Elan mobile app to generate their own electricity.
Therefore, Elan Future empowers people to move from a business-driven power generation model to a cleaner, greener alternative. Through Elan’s technology, a just and sustainable energy model is now a reality.