Web3 for funding and coordinating solar energy projects

Smallholder farmers can spend up to 25% of their income only on energy for irrigation. By transitioning to a solar energy-powered irrigation system, farmers can recoup their investment within two years and increase their profitability substantially. However, high upfront costs pose a significant barrier to adopting solar energy. 

Profitable farmers often have limited access to affordable financial services due to informality, high transaction costs, lack of collateral, perceived risk, financial illiteracy, inability to invest in sustainable practices and renewable energy solutions, and increasing vulnerability to climate change perpetuating their dependency on fuel generators. 

At the same time, there is a rising global demand to participate and invest in profitable and impactful projects with social and environmental benefits. However, a major obstacle is the absence of digital infrastructure for direct, secure, and transparent collaboration and coordination with aligned incentives.

Palta3 is a Web3 blockchain-based framework, that aims to overcome the barriers that smallholder farmers face when accessing solar energy project funding. 

It will connect farmers with investors, eliminating the need for traditional financial institutions and allowing investors to evaluate projects based on their potential impact and feasibility rather than solely on credit records.

Our pilot will leverage blockchain technology and cryptocurrency to reduce transaction costs associated with transfers and small loan amounts.

Palta3 will assess projects based on predetermined criteria, such as feasibility, impact, and sustainability. 

By using smart contracts and blockchain technology, the platform ensures transparency and traceability, mitigating perceived risks and giving investors confidence in their investments while simplifying the funding process for farmers, reducing barriers related to financial and solar energy literacy through digital Due Diligence of solar projects. 

By Tokenizing ownership and contributions, Palta3 aligns incentives and ensures that investments positively impact the local community and the environment.

Features such as a user-friendly interface allow farmers, NGOs, and associations to submit project proposals and investors to browse and select projects for funding based on their investment goals and values. Once a project receives sufficient funding, the smart-contract triggers, and funds are allocated to the project. A Palta3 implementation partner receives the funds and carries out the solar energy project. The contract also allows retrieving loan installments directly from farmers or through local stakeholders such as sellers, associations and exporters and re-distributing funds to investors, which they can cash out or reinvest in more projects.  

The target population of our platform are smallholder farmers in developing regions who lack access to traditional banking services and cannot afford to purchase a solar system upfront. These farmers are currently underserved and often have to rely on expensive and unreliable sources of energy, such as diesel generators, which negatively impact both their finances and the environment.

Our platform aims to address their needs by providing a crowdfunding solution that allows these farmers to access affordable financing for their transition to renewable energy sources, specifically solar energy. Through our platform, these farmers will have the opportunity to access funding from a community of like-minded individuals who are committed to promoting sustainable and clean energy in agriculture.

By directly and meaningfully improving the lives of smallholder farmers through our platform, we aim to provide them with the means to increase their productivity, improve their livelihoods, and contribute to a cleaner and healthier environment. Ultimately, our solution will help to reduce poverty and increase access to sustainable energy, making a positive impact on the lives of smallholder farmers in developing regions.

The founders, Cristian and Andres, along with the team, are well-positioned to deliver this solution as they have a deep understanding of the target population and are actively engaged with the communities they serve. Cristian has experience in social entrepreneurship and has worked on solving energy poverty in vulnerable families in Latin America. He has also completed a certificate in social entrepreneurship from Stanford University. Andres has worked as a sustainability-driven strategy consultant and has experience in using technology to create positive social impact. He has led successful digital marketing campaigns, developed profitable apps for small businesses, and founded and managed a solar energy program that powered over 1,000 rural homes. Dennis, a token engineer, financial engineer innovator, and entrepreneur, brings expertise in blockchain technology and data analysis to the team.

The team is representative of the communities they serve, with Andres and Cristian being from Latin America and having experience working with vulnerable families. The team has engaged with these communities to understand their needs and to develop a solution that meets those needs. They have actively involved these communities in the design and implementation of the solution by gathering input, ideas, and agendas. This ensures that the solution is meaningful and relevant to the target population.

Their track record of success also demonstrates their ability to deliver solutions that have a positive impact. For example, Cristian's previous venture, Endurance Electric, implemented the first pay-as-you-go business model in Chile for energy services, which helped solve the problem of energy poverty tax in Latin America. Additionally, Andres has experience in leading successful digital marketing campaigns and has founded and managed a solar energy program that powered over 1,000 rural homes.

Overall, the team's experience, expertise, and engagement with the target population make them well-positioned to deliver this solution and achieve meaningful impact.

Our solution is a prototype because it is a functional system that has been developed and tested to address the needs of smallholder farmers in developing regions who lack access to banking and cannot afford to buy a solar system upfront.

Our prototype includes a user interphase platform that allows farmers to upload their solar energy projects, which are then evaluated with a developed protocol by our team. We also provide scouting for potential solar energy projects, conduct due diligence on the projects, and provide support in promoting and funding the projects.

The platform facilitates the funding process by connecting international investors and collaborators who are interested in supporting sustainable and clean energy in agriculture through transparent blockchain protocols with smallholder farmers who are seeking funding for their solar energy projects. This allows farmers to access funding that they would not have been able to obtain otherwise, while also promoting the use of renewable energy sources in agriculture.

We have already tested components of our prototype in pilot projects in Peru and Chile, where we found the effectiveness of solar energy systems in addressing the needs of smallholder farmers and demand by green investors in projects of this nature and the attractiveness of blockchain technologies for transparency and reducing costs. We are continuing to refine and improve our prototype based on feedback from our users and partners, and we are confident that it will have a significant impact on the livelihoods of smallholder farmers in developing regions.

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Currently, our platform serves two smallholder farmers in the southern region of Peru, specifically in Tacna. These farmers were able to benefit from an affordable solar energy system that our platform provided, allowing them to cover most of their energy needs. Through our financing system, they were able to repay the system cost within two years, making it accessible to them. While our platform currently serves a small number of farmers, we aim to scale up and reach a larger number of underserved smallholder farmers in developing regions.

We believe that Solve support can help us overcome these challenges and scale our platform more effectively.

We need resources to invest in research and development, marketing and promotion, and expanding our operations. This program could help us get the funding to grow our platform and reach more farmers needing renewable energy solutions.

Technically, we need to improve our platform's functionality, user experience, and scalability. Solve could offer us technical expertise and resources to improve our platform and make it more effective.

In terms of market barriers, we would love to reach new markets. Your support could provide us with market insights and resources to help us expand our reach and compete effectively.

We think that Kiva Protocol, BanQu and Ethichub are comparable projects; however, the Palta3 proposal is innovative in its focus on productive uses of clean energy, like solar-powered irrigation systems addressing this critical need from smallholder farmers. 

Web3 technologies can enhance transparency, security, and scalability, creating synergies with other projects and leading to greater long-term impact. The involvement of enterprises, NGOs, associations, and implementation partners in the project submission and execution process can create a more participatory approach to addressing the challenges. 

Using cryptocurrency as a means of exchange is an innovative feature that allows funding for low-income regions from green investors with different investment capacities and geographies. 

Our platform's impact goals for the next year are to fund 50 smallholder farmers' solar energy projects within the first 10 months of operation and achieve a minimum average of 50% reduction in energy costs for beneficiaries. We also aim to secure commitments from at least 300 sustainable investors interested in funding projects with positive social and environmental impacts.

Over the next five years, our platform aims to increase the adoption of solar energy-powered irrigation systems among smallholder farmers and reduce transaction fees by 40%. We will achieve these goals by expanding our network of smallholder farmers and sustainable investors, improving our platform's technology and services, and implementing blockchain technology to increase transparency and efficiency in project transactions.

We will work closely with local communities, NGOs, and governments to identify and fund projects that have the potential to make a significant impact on the environment and the livelihoods of smallholder farmers. By achieving our impact goals, we hope to contribute to a more sustainable future and create a positive social impact in the communities we serve.

we are measuring the adoption of solar energy-powered irrigation systems by tracking the number of farmers who have adopted the technology, the number of systems installed, and the total area of land irrigated by these systems.

To measure the energy savings achieved by smallholder farmers, we are tracking the amount of energy generated by the solar systems, the amount of energy consumed by the farmers, and the resulting reduction in energy costs.

To track our progress in attracting sustainable investors, we can measure the number of new investors who have committed to funding projects, the amount of funding secured from these investors, and the overall growth of our investor network.

Finally, to measure the reduction in transaction fees and increase in transparency, we can track the percentage of transactions conducted on-chain, the reduction in fees charged to farmers, and the level of transparency achieved through the use of blockchain technology.

Our theory of change is that by providing affordable and accessible solar energy solutions to smallholder farmers, we can promote sustainable and clean energy in agriculture, reduce energy costs, and improve the livelihoods of farmers. This will lead to increased productivity, improved food security, and a reduction in greenhouse gas emissions.

To achieve this, we will work closely with local communities and partner with organizations that have experience working with smallholder farmers in developing regions. We will also leverage technology to streamline the funding process and improve transparency.

Our approach involves identifying potential solar energy projects through scouting and conducting due diligence to ensure the viability of each project. We will then provide support in promoting and funding the projects while utilizing a platform and methodology to facilitate the funding process and collaborate with sustainable investors.

By achieving our impact goals and measuring our progress towards them, we aim to make a positive impact on the environment and the livelihoods of smallholder farmers, ultimately contributing to sustainable development and the achievement of the UN Sustainable Development Goals.

Our pilot will leverage blockchain technology and cryptocurrency to reduce transaction costs associated with transfers and small loan amounts and to provide transparency and security to investors and collaborators around the globe.

By using smart contracts and blockchain technology, the platform ensures transparency and traceability, mitigating perceived risks and giving investors confidence in their investments while simplifying the funding process for farmers, reducing barriers related to financial and solar energy literacy through digital Due Diligence of solar projects. 

By Tokenizing ownership and contributions, Palta3 aligns incentives and ensures that investments have a positive impact on both the local community and the environment.

We recognize that diversity, equity, and inclusivity are essential to achieving our mission and creating meaningful impact. Our leadership team values and prioritizes diversity, with members from different backgrounds, cultures, and experiences. We are committed to building a team that is reflective of the communities we serve.

To increase diversity within our team, we have implemented a range of strategies, including targeted recruitment efforts, outreach to underrepresented groups, and the creation of a diverse and inclusive workplace culture. We strive to create an inclusive environment where everyone feels valued, respected, and empowered to contribute their unique perspectives and ideas.

We also prioritize diversity, equity, and inclusivity in our partnerships and collaborations. We seek to work with organizations that share our values and commitment to these principles. By building a diverse and inclusive network of partners, we can better serve the diverse needs of the communities we work with.

Finally, we are constantly evaluating our approach and seeking feedback from our team, partners, and stakeholders on how we can improve our diversity, equity, and inclusivity efforts. We recognize that this is an ongoing process, and we are committed to continuously learning, growing, and improving our approach.

Our Business model involves earning revenue through a percentage of funds raised for each solar energy project. This percentage will cover the costs of due diligence, project management, and ongoing support to ensure the successful implementation and operation of projects.

We aim to grow our customer base by expanding our reach to more smallholder farmers in developing regions who need affordable and sustainable energy solutions. This will allow us to generate more revenue from our platform.

Then, we plan to continue developing partnerships with sustainable investors and impact-focused organizations who share our mission and are willing to provide financial support for our projects. This will help us to secure the funding necessary to scale our operations and make a greater impact.

Lastly, we will continue to optimize our business model to reduce costs and increase efficiency wherever possible. This includes leveraging technology to streamline our operations.

We have made significant progress in achieving financial sustainability through various successful initiatives. One example is generating $30,000 in income by developing decentralized associative frameworks for large companies with interests in our areas of impact.
Additionally, our DAO has raised $23,000 in collaborative capital to finance solar projects. We have also identified more than 50 potential new customers for the DAO, who could potentially save up to $9,000 annually by switching to solar.