On an average, we waste 30% of electricity that we consume. We incentivize consumers to save electricity by monetizing their electricity savings through the Muon blockchain Platform. Whatever electricity consumers save are monetized either in Cash, Credits or Rewards.
When a consumer buys electricity either via main grid or prosumers through Muon App, we convert that to equivalent power tokens and, compare their electricity consumption within the peer group. We actively provide personalized electricity-saving tips that help consumers to save electricity. Whatever electricity they save are traded through our platform to other peers or merchants. Merchants have an option to trade their merchandize against the electricity tokens.
Our aim is to slow the electricity growth rate in Singapore by 15% over 3 years by reducing wastage to half. With carbon intensity of 488 tCO2e/GWh and cumulative savings of 12 GWh, it translates to carbon savings of 5,735 tCO2e.