2020 SunContract Yearly Project Update
The year 2020 was metamorphic not only for us or the renewable energy sector but also the entire world. The pandemic affected various industries, and the renewable energy sector is no different. Despite the US Energy Information Administration’s prediction that electricity consumption would likely fall by 3.9% year-on-year in 2020, SunContract has emerged stronger than ever. In 2020, we achieved record sales and revenue in electricity sales and energy self-sufficiency products.
Sales: P2P Energy trading and sustainable products
Our electricity sales in 2020 amounted to an estimated EUR 2 million (USD 2.5 million), almost 50% up from the previous year. Additionally, our clientele has grown approx. 40%. This includes renewable energy producers, energy consumers (industrial/commercial consumers and households), and prosumers. The energy capacity contracts signed on SunContract almost tripled in 2020. The energy contracts amounted to around 30 GWh of renewable energy production. This included solar energy, hydro energy and cogeneration. The option of transferring energy surpluses has been greatly appreciated by the prosumers. We have seen a twofold increase in the number of prosumers who produced and transferred their surpluses.
Developing self-sufficiency in energy production has been our priority, and we’re pleased to announce that we recorded a 100% surge in energy self-sufficiency products.
The sales are continuing to grow in 2021. Together with project partners, we have in Q1 of 2021 confirmed a total of 2.7 million EUR (3.4 million USD).
SunContract, along with its consortium of partners, raised almost USD 7 million for various research and development (R&D) projects. Of those, two projects Betai Project and Bright Project have been the most prominent.
Development of the platform
Today, the SunContract platform has 7,000+ users, including energy producers, prosumers, and consumers, ranging from small households to commercial facilities and industrial customers as well. We invested a significant amount of our revenue in R&D to introduce new services and functionalities.
In September 2020, we upgraded the existing invoicing system to increase transparency and provide in-depth insights. At the end of the year, we launched a new, more intuitive, and user-friendly website.
The SNC token value increased from US 0.017 to USD 0.049 in 2020, exhibiting 2.8-fold increase in value.
You are welcome to read the whole detailed recap here.