Helium eyes energy sector with ‘virtual power plant’ network

Last week, the Helium Foundation teased new proposals for “subnetworks” that extend beyond wireless technology. Speculation was rampant about what these subnetworks could be, but the answer has now been revealed. Swedish energy project Srcful has proposed becoming a Helium subnetwork with its own ENERGY token. This partnership would enable Helium hotspots to power Srcful’s virtual power plant, where households and businesses can contribute their solar panel or battery power in exchange for ENERGY tokens. These tokens can then be sold to energy companies or grid operators. However, some have expressed concerns about Srcful’s complex business model and its ability to secure contracts with energy-needy operations. Despite these challenges, the Helium Foundation expects to receive similar proposals in the future and is open to exploring new subnetworks. As Helium continues to onboard projects like Srcful, the question of tokenomics and allocation of HNT tokens remains a key consideration for the network.