Eloncity uses blockchain to record transactions in the community and establish an auditable record for tracking the sources of electricity generation in the community. A crypto utility token (Eloncity Token, ECT) facilitates local energy exchange and incentivizes investment in battery energy storage systems (BESS) for storing harvested renewable energy on the customer's property. The Eloncity Foundation will collaborate with financial partners, government agencies, and other key stakeholders to establish revolving loans, which will help initiate the Eloncity project in communities lacking necessary funds.
10,000,000 USD (fiat)
33,000,000 USD (fiat)