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Solar Mining: Does It Work?

21.08.2018 — 0

There are lots of people out there who are sure mining with solar plants is possible. There are even more sources claiming the same.

Solar DAO‘s CEO Dmitriy Solodukha on real possibilities of solar mining

Today, I will explain if mining with solar is profitable and how it really works.

Let me be straightforward with you, saying it is possible to mine with solar energy. But one needs to realize what is left behind the scene. So, here we are.

First and foremost, the cost of production of photo electricity is still rather high. The mining though, requires minimum electricity costs. For example, in summertime a regular solar power plant produces electricity in the period from 9 to 16. The point is it does so during only one hour and a half at the peak of its day activity per day. In winter, the amount is even less.

What Real Impact Does It Have on a Mining Rig?

Connected to a Solar Plant, a 1 MW miner works productively about 1 hour a day. For the miner to pay off, it must work out in a 24/7 mode until it malfunction, which is about 2-3 years.
The area of a 1 MW Solar Plant is about 2 hectares, the size of 2 international rugby fields!

“Well, okay, but you can build a solar plant with some additional capacity” you might say.
Sure, you can. By taking into account the amount of grid power that a miner needs.

Let’s Do Some Math

Solar Farm’s day peak production

As an 1 MW miner operates 24 hours a day. It needs 24h 1 MW which equals 24 MWh per day.

Let’s say we take the average energy output per year. In order to get 24 MWh per day, we need 24 MWh/3 h = 8 MW. Meaning for one 1 MW miner, an 8 MW solar plant is needed.
And again, this is not to mention drastic ups and downs of solar activity. Given this, an accumulation system is required, which for 8 MW, will account for about another quarter of the field of storage containers. The price will respectively go up from $800 to $3000 per kW of installed capacity.

So you see, it can be done, but are huge energy bills worth it?

Being asked on a daily about solar mining companies, which are on the market, we want to address the Envion question here, too.
The company’s become known for using the power of sun in mining, but the mechanism they use is still not clear for most of us. Here is Solar DAO‘s guess to how it works.


First, a miner must be connected to the grid, but we all know how expensive electricity usually is. The question appears: how profitable is it? Along with that, another miner is being connected to a solar plant so solar energy would replace regular electricity.

The good news is you can save up to 10-12% of your financial assets per year. 一 Not bad, but again is all the pre-work worth that? And no one can guarantee that energy gained this way will be cheaper.

“In what cases can energy be cheaper?" If, for example, it costs $160 per MW in grid power like in Israel or the Baltic States, and solar power it will cost about $90 per MW, as, for example, in Israel, Portugal, etc. Remember that in the Baltic States there is no solar option!

And last but not least, to solar mine effectively, a tariff must be about $60/MWh or lower, which is also a rather hard to get.

As you can see, solar mining is possible, but its successful and profitable implementation has numerous challenges to it.
To do it right, you must consider a bunch of tricky moments, and spend much money on maintenance 24/7.

Is it worth it? The choice is up to you.

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Press Release. Now Anyone Can Reduce CO2 In a Few Clicks

15.08.2018 — 0

15.08.2018 — Tallinn

The world’s first blockchain solar plants construction initiative explained how everyone can participate against the Climate Change.
Solar DAO is the first blockchain project providing any person with the opportunity to become a solar plant co-owner. Recently, the SDAO project has celebrated its 1st Birthday, publishing the annual report, and decided to join the Climate Chain Coalition.

There are 3 main ways to act against the climate change, and we take them all

— said Dmitriy Solodukha, founder and CEO of Solar DAO.

The first one is the active position. One can beat poison emissions by expanding the live trees area. One grown tree can absorb almost 40 kilograms of CO2 per year, so you just need to plant it. Solar DAO is often performing special contests and events for its Community. Not so long ago we held a «Plant a Tree» contest, and are already preparing a new one.
Solar DAO Contest participant — Corina Pascu

The second way you can stay against the global warming is to become greener. So does Solar DAO, as solar energy is the leader of alternative energy sources. Constructing a solar plant help to avoid tons of CO2 emissions. For example, the future 4 MW solar farm in Kazakhstan, which is under Solar DAO’s implementation, will reduce 3 760 000 kilograms of poison each year. This amount can be compared to 97 445 grown trees’ absorption.

The last but not least way to help our planet is cooperating and teaching. Solar DAO is now one of the Climate Chain Coalition members, so the blockchain projects start to cooperate for the global mission, and everyone now should take a part in it.
Join the Solar DAO project!
the Solar DAO project is the newest format of a financial instrument that will allow users to easily, anonymously and safely invest in the construction of solar power plants around the world, avoiding the costs of intermediary expenses, arranging transactions and excluding technical and other barriers.

Solar DAO
“GOTOSOLAR OÜ” Roosikrantsi tn 2-K490, Tallinn, Estonia, 10119

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Legal registration completed. The details

28.04.2018 — 0

As you already know, in addition to PV Solar Plants total capacity expanding, the main mission of Solar DAO is to become a part of the main Fund. In order to reduce the risks of possible claims against Solar DAO from regulators, we decided to implement the legal structure we previously described.

To allow Solar DAO team and participants get the desired result, for the Solar DAO project implementation purposes, we decided to register the company in Estonia.

Thus, Solar DAO now has the following legal info:

Business name: GOTOSOLAR OÜ
Address: Harju maakond, Tallinn, Kesklinna linnaosa, Roosikrantsi tn 2-K490, 10119
Tel .: +372 880 4272

What’s next?

The company is already registered and now****we are working on openning a bank account. At the same time, we prepare documents for obtaining the needful licenses. We expect it will take 2–3 months to receive licenses. Based on the results of this work, we plan:

  • Coordinate KYC / AML procedures with the Bank;
  • Get the licenses allowing us to exchange cryptocurrency and storage it;
  • Conduct test operations with the Bank’s concern;

Why Estonia?

Generally, Estonia is considered to be among the most favorable jurisdictions for ICOs in the world. According to the researchers, Estonia is in the top 15 countries in the world based on amounts of ICOs launched. According to ICO funding report , out of the total $240M raised in Estonia, 28% was collected through ICOs.

Estonia is often compared with countries such as Switzerland, Gibraltar, Lithuania, Singapore and some other, in having the similar approach to ICOs.

What do we get?

Since such registration is one of the most suitable and advantageous ways, now we have the opportunity to:

  • Own other entities in the countries of projects’ implementation;
  • Receive agency fees after selling ready projects;
  • Conduct the profit distribution between the tokenholders;
  • Participate in the main Fund;
  • Have the special licenses to exchange Fiat — Crypto for subsequent distribution.

**If any questions please ask the Solar DAO team via Telegram or simply through the comments. Stay with us, more news soon! **Join us:

If you’ve enjoyed the article, plese support us by the apploud. Click “clap” button as many times as you like it.

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Solar Energy development tendency in 2018

04.04.2018 — 0

As you already know, renewable energy is a promising technology not only to minimize electricity costs but also significantly reduce the negative effect on Ecology. Every year, solar energy increases its pace of development, while reducing productional costs. According to SolarPower Europe, in 2017 the European countries have built 8.6 GW of solar plants, which is almost 2 GW more than a year before. The total solar generation capacity in Europe was 110 GW last year.

Energy Trend made an encouraging forecast for Solar Energy growth in 2018. According to the company, the new installed capacity will pass the mark of 100 GW this year. The solar industry leader — China — will build solar power of almost 50 GW. Despite the fact that China’s RES development rate will be reduced (it was rather bigger than 50 GW last year),** the****global growth will be achieved through the European countries**.

Spain, Mexico, Egypt, the Netherlands, and Brazil will be the new leaders in the solar industry development, — according to Greentech Media research. These countries will cross the 1 GW point and compete with the “old solar champions”.

We should also mention Spain. The country declared plans to build more than 20 GW of solar power plants in various territory parts in 2018. Spain has rich resources for using solar generation due to the high insolation level. The largest project companies like Enel and High Energy are to build PVS without using government funding. Thus, Spain will become a competitive country and will only increase its own installed capacity.

An additional reason for the European Solar Energy growth is the end of the minimum import price (MIP) for solar modules in September 2018, the restriction imposed by the European Commission.

What about the US?

As we remember, in the last 2 years the United States policy in relation to renewable energy has changed dramatically. In June 2017, the country left from the Paris Agreement aimed at preventing global warming and reducing CO2 emissions. The United States have declined support and funding for large-scale green energy development.

Despite this, the number of states that have passed 1 GW point of installed capacity will increase to 18 (from 2018 to 2020), — GreenTech Media reports.

The US solar generation cost for domestic use will remain the highest in the world. An important reason for this is the high customs duties for foreign solar modules. Thus, local producers will be forced to look for ways to reduce the cost by changing production.


The****US solar energy market growth will decline by more than 10%. Again, because of high customs duties. According to GreenTech, the problem will become especially noticeable next year, when early imported photo-electric modules will be no more available.

*Solar DAO — a tokenized fund designed for everyone to easily participate in PV solar plants construction across the globe. SDAO tokens on: *YoBit

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Grid Parity. Explanation in detail

28.03.2018 — 0

The rapid decline in prices for the equipment production and solar power plants maintenance provides this Green Industry a leading place in the renewable energy market and huge prospects for use. Solar energy is the cheapest and most effective way of generating electricity for many countries. In this article, we will talk about Grid Parity and what countries have already managed to achieve it.

Confusion in terminology

Due to insufficient study and lack of scientific presentations, the Parity term is not always identically interpreted. Latter the “Grid Parity” meant a certain comparison of RES with classical types of generation. The term’s essence identified the status of green energy, the improvement of which (the low cost of a RES energy unit compared to coal, gas, nuclear or other) was called Parity.

However, grid electricity can be generated by several types of sources at once, and the tariff includes other parameters in addition to the energy cost. So:

Grid Parity is the case when a consumer using own generation on renewable energy sources could achieve a cost of kilowatt/hour (called LCOE) equal to or lower than the tariff cost from the Grid per kilowatt/hour.

A clear distinction. When does Parity occur?

The European technological and innovative platform for photovoltaics (ETIP PV) has carefully made calculations to show what Grid Parity is, and which countries in Europe have already achieved it. All of important nuances were taken into account.

First of all, the company noted that the consumer’s full self-provision by solar energy is an extremely complex process, since daily generation is variable. Therefore, excessive energy sold to the network at a wholesale price was considered. For real Grid Parity calculations, the data were used without taking the use of power storage. The RES use subsidies and special national tariffs were also not taken into account, for the sake of clear result.

The calculation of the Real Grid Parity was made this way:

  • The cost of consumed electricity is added****to the cost of** electricity sold to the Grid** at a wholesale price.
  • The received value (PV electricity Value) is compared with the cost of electricity generation using solar panels (LCOE). If Value is equal to or greater than the cost of production, then solar generation competitor to Grid consumption. Grid Parity has occurred.

The average PV Electricity Value calculation

Levelised cost of Electricity calculation

Very encouraging results:


Thus, we see that Grid Parity has already been achieved in most European countries. The main decisive factor in the solar energy competitiveness is the rate cost for the investment by capital (WACC). According to the researchers, only tax and legal changes can increase financial expenses.

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Photo report. Solar DAO visit to Greece. The results

23.03.2018 — 0

Recently, the founder of Solar DAO project, Dmitriy Solodukha, returned from a business visit to Greece. Here we will tell about the main results of work.

Preveza, Central Greece. 2.2 MW


First of all, the trip was set for personal inspection of promising projects, ready for construction. Stations are located in the north of Greece, near the city of Xanthi. As we described earlier in the blog, we try to personally come to the place, check the project and talk with its owner, having found out all the necessary information.

We also planned to check two ready-made solar power plants for sale. We inspected the objects, made high-quality photos/videos from drones, checked the documentation, talked to the seller and made high-quality presentations for each of the stations. The purpose of this work — to offer ready PVS to family offices, with whom we have agreed on cooperation after the Roadshow. In this way we can:

  • Break the psychological barrier to joining the fund, starting cooperation.
  • Earn on commission. We plan to distribute half of the commission income among SDAO tokenholders. The rest of the funds will be used in other projects.


  1. We have visited the first project: two stations in the center of Greece: 5.3 MW plant in the city of Arta, 2.2 MW plant in the city of Preveza. It is a one complete project consisting of two stations. We agreed to cooperate with the project owners — a construction company that participated in the Olympic Stadium implementation in Athens. We consider the possibility to construct together a 24 MW project in central Greece.
  2. Visited and agreed to cooperate with the owners of the second project in the north of Greece: 2 MW plant near the city of Xanthi.
  3. Agreed for the maintenance of our future PVS in Greece.
  4. Met with the project company owner in the north of Greece. Checked the project for the future construction and ready to conclude an agreement.

Arta. 5.3 MW PV solar plant in central Greece

Preveza. 2.2 MW PV solar power plant

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Ecohouse. Zero and negative consumption

21.03.2018 — 0

Green building — is a promising way of residential house construction, which only starts to get fame and popularity in the world. Most often the term “ecohouse” is associated with a fashionable home in the style of high-tech. However, the ecohouse is not only a beautiful, but also economical and safe house, created from environmentally friendly materials and equipped for complete autonomy.** 
Zero energy consumption is achieved with renewable energy**, which supplies the homes of a new generation.

Pic credit:

What is an autonomous house?

The main feature of such housing is the lack of need to take communications and energy from a common grid.

Does not depend on external power

The issue of electricity is important in any type of housing. Certain modifications help owners to abandon the use of electricity from the grid, and also significantly reduce the cost of utilities.

The ecohouse’s autonomy is achieved with consideration of the following parameters:

  • The correct selection of solar panels and their location.
  • A suitable model of wind mini-stations and their location near the house (vertical and horizontal types of wind turbines).
  • Careful calculation of power consumption.

Sewerage is not a problem for an ecohouse

Laying of sewer channels is a very expensive operation and depends on the state of urban networks. The search for reliable service companies is another complex task.

In an ecohouse, the drainage communication issue is solved with the help of water purification systems and wells. The septic tank allows householder to defend polluted water, and to immerse clean water in the ground. Such a system does not require a lot of funds and is not complicated. A truly autonomous house can be implemented in any place.

Heating and cooking system

Installation of gas boilers and cookers is an optimal eco-solution, since it is impractical and expensive to use solar energy for electric cookers. A propane boiler is used for cooking.

A geothermal system with an electric heat pump is best way of eco-heating. The installation of this system is expensive and time-consuming, but using this method you can equip the house with a complete climate control, keeping warm in winter, and providing cool in summer. Ecohouse projects are made with good thermal insulation for heat loss reducing.

Water supply

Depending on the owner’s budget, water supply for ecohouses can be carried out in two ways:
• Installing a well —can be implemented by yourself.
• Digging a borehole— will cost more, you need to find a company engaged in such works and arrange a convenient access for the equipment. Water from the well is much cleaner, the well itself will take up less space, and it will pay off soon.
For pumping water from the borehole, water tank and electric pump are installed on the ecohoese’s roof. The reservoir provides water pressure throughout the house.

Hot water supply will not become a big problem either. Since it is enough to install a faucet with a built-in water heater in order to obtain the required amount of hot water, without extra costs.

Pic credit:

Negative energy consumption

In the small Norwegian town of Larvik it was built ecohouse, which not only meets all the environmental parameters and is served by renewable energy sources, but also accumulates the excess. According to the calculations of ZEB designers, the house produces more than 19,000 kW/h of electricity annually, and its own maintenance takes slightly more than 7,000 kW h. Surpluses of electric power are stored for the purpose of subsequent sale, or are spent for powering the electric car and heating the pool.

The house design is made taking into account the natural light, with a minimal darkening. So in the period from spring to autumn, the residents can have dinner in a glassed room, lit by the sun. The roof of this ecohouse is equipped with solar panels and batteries.

Pic credit:

ZEB eco house pilot project is an excellent example for other construction companies. This is exactly what the creators wanted to achieve — to show that ecohouse can save a huge amount of energy and be financially profitable. Over the next few years eco modernized homes’ supply and demand are expected to increase in Norway.

According to the “Directive on the energy performance of buildings”, by 2020 the EU countries will allow building only of houses with zero energy consumption. So the European Commission has identified targets for the major construction companies in Europe — study and implement renewable energy in the usual life of people.

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Electricity cost by country. Europe

14.03.2018 — 0

In this series of articles, we want to show statistics on the electricity cost per kWh for countries in different parts of the world.
The data is comparative, as the price of electricity varies widely within the countries themselves by region, and tariffs sometimes change every month. The difference in cost is also affected by the infrastructure and geography of individual areas.

Electricity in Europe according to Eurostat

Every year Eurostat publishes comparative data on the price per kilowatt of electricity in selected European and nearby countries. The latest statistics publication for the current year is planned to appear in May 2018. According to data for 2017, the Top 10 countries with the lowest cost for household consumer include:

  • Ukraine (0,039 Euro per kWh)
  • Kosovo (0.066)
  • Serbia (0.066)
  • Macedonia (0.082)
  • Albania (0.084)
  • Bosnia and Herzegovina (0.86)
  • Bulgaria (0.096)
  • Montenegro (0.097)
  • Moldova (0.098)
  • Turkey (0.105)

The prices presented in the rating include taxes for private consumers. Private (or domestic/household) consumers are referred to buyers with an annual electricity consumption from 2500 to 5000 kWh.
Among the members of the European Union, the highest cost for electricity was achieved in Germany, Denmark, and Belgium. Compared with the leader in the minimum cost in the EU — Bulgaria, the cost in the above-mentioned countries is more than 3 times higher.


The following graph clearly shows the size of tax part for the electricity unit supplied to private consumers. A leader with the minimal taxation is Malta (4.8), where a low VAT rate applies to the electricity and no other taxes are present. The largest tax on electricity is collected in Denmark, where almost 70% of the electricity cost for the consumer falls on the tax.


Low price for Solar Energy. German example

As we described earlier, Germany is one of the countries with the highest electricity cost. However, Solar Power Stations allow this country to produce much cheaper energy. Since 2015 the price of solar energy in Germany fell by more than 40%.

In 2017, the cost of energy generated by solar installations reached a record low — less than 5 cents per kilowatt/hour. At an auction in October, the minimum cost per unit of electricity was 0.0429 Euro. Compared with the cost of conventional electricity (Eurostat data table), solar energy can reduce the consumers’ monetary costs several times!

The German Association of the Solar Industry is actively advocating the adoption of regulations on the solar power expansion and assures that it will help achieve the government’s plans to reduce harmful emissions much earlier than planned in 2022.

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Financing of Solar Projects using Cryptocurrency. How does this happen in Venezuela

12.03.2018 — 0

Yesterday at the International Summit of the Solar Alliance, the Minister of Foreign Affairs of the Republic of Venezuela spoke about plans to introduce Petro — own state cryptocurrency into the solar energy market. The minister said that the state will finance solar energy projects using cryptocurrency. Despite the fact that Venezuela is an oil-producing country, renewable energy is an opportunity to raise the economy and move to the next level of modern development.

Representatives of India and Venezuela talked about plans for the introduction and strengthening of the clean and sustainable energy industry, which guarantees energy supply in future, without affecting the climatic consequences for the planet.

National Cryptocurrency

Last month, Venezuela held a public offering of its own cryptocurrency called Petro. The main goal of its creation is a way out of the current difficult economic situation due to US sanctions. President Maduro explained that country is entering a new stage of technological development.

Within hours of offering, Petro has raised more than $700 million of investment. In total, the government plans to release over 100,000,000 tokens. Leaders also said that they plan to introduce Petro into the internal economy as a way of paying taxes or municipal services since the cryptocurrency is backed by real oil assets of the state.

President Nicolas Maduro said that the introduction of cryptocurrency will allow Venezuela to realize Hugo Chávez dream and to stop US dollar and Wall Street dominance over the world economy.

Cryptocurrency and Solar Energy

“Thanks to Petrocaribe, our brothers and the people of the Caribbean”, President Nicolas Maduro has announced an initiative way to finance solar energy projects using the state’s virtual currency Petro, which will have all the logistics and capabilities for Petrocaribe’s ventures.

“These are excellent prospects not only for Venezuela but also for other countries of the Caribbean Sea,” he said.

At the summit on March 11, Venezuelan representatives said that Venezuela can no longer depend on fossil fuels.

It is planned that the International Solar Alliance countries will be able to establish relations in the field of renewable energy. ISA is an international intergovernmental alliance consisting of 121 countries, rich in natural resources: African and South American countries, India, Australia and other.

***Solar DAO — a tokenized fund designed for everyone to easily participate in PV solar plants construction across the globe. SDAO tokens on: ***YoBit

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The beginning of KYC procedure

06.03.2018 — 0

In the last announcement, the Solar DAO team told about plans for the next months. The first PV solar plant construction should start this month. After PVS’ commissioning and finishing final works, Solar DAO will start working on profits distribution. In order for the Project to follow our planned course and achieve financial goals, the KYC procedure among the tokenholders is need to be conducted.

What is KYC?

KYC is an acronym for “Know Your Client” procedure. KYC is a simple process of Verification for Solar DAO Participants. This is verification procedure is created to meet the requirements of regulators and for the proper profit distribution.

If you do not have problems with ID, we advise you to complete KYC as soon as possible. This will allow us to quickly proceed to the next stage of work.

How to pass KYC

Brief instruction on “how to verify yourself”:

  • Log in to create a new account
  • Confirm your email address by clicking on the link.
  • Create a new wallet and securely store the Private Key.
  • Start verification by clicking on the “Pass KYC” button.
  • Attentively and correctly tape all the information, following the attached instructions.
  • Attach the form with photos or scans of documents. Make selfie with the document, add it to the form and complete the registration.

Applications are processed within two business days. You will be notified about changes via email.


Your personal information is securely stored and not transferred to any third parties. Solar DAO creates a reliable project and seeks to ensure that all investment processes are carried out in compliance with the legislation in the interests of our participants.

What documents need to be prepared?

We accept Passport (preferred), Travel Passport, Driving license, Identity Card and such Proof of Residency as Utility Bill (less than 3 months old), Bank statement, Credit card statement or proof of residence certificate.

After completing the KYC procedure, we will be able to make our project even better. Verification does not take you much time, as we tried to make it the most simple and understandable. If any questions, ask Solar DAO team via Telegram chat.