Our global countdown from 59 gigatons to net zero covers five broad sources of emissions: transportation, energy, agriculture, nature, and industry. Today globally many first objectives are spoken such as to electrify transportation, which in itself is a target of 8 gigatons of emissions that come mostly from tailpipes. To achieve this goal, the world must replace all gasoline – and diesel – powered vehicles with a fleet of zero-emissions cars, trucks, and buses by 2050. At Sync our objective is to address the actual generation of electricity. To be more precise, we want to address the global transition to renewable energy. According to the International Energy Agency (IEA), in 2021 28,500 TeraWatt-hours (TWh) of energy was generated. In 2021, renewable energy sources accounted for approximately 30% of the total global electricity generation, which is equivalent to approximately 8,550 TeraWatt-hours (TWh) of electricity. The total global electricity consumption was approximately 23,200 TeraWatt-hours (TWh).
The transition is no small task and it cannot happen without the engagement of the public, which is why at Sync we want to bring awareness, engagement and action to make an impact on the path to NetZero by 2050. This is a fundamental shift in the way we all think about electricity. It starts with the definition of an economy; which defined as a system of production, distribution, and consumption of goods and services. It can be thought of as a complex network of individuals, businesses, and governments who interact with each other to create, exchange, and consume goods and services. Sync wants to synchronize several key components of this complex network as outlined below:
- Resources: An economy requires resources such as natural resources (land, water, minerals), labor (human effort), and capital (tools, machinery, and buildings) to produce goods and services.
- Production: The process of using resources to create goods and services is called production. Production can take place in different sectors of the economy, such as agriculture, manufacturing, and services.
- Distribution: Once goods and services are produced, they must be distributed to consumers. This involves transporting them from producers to consumers through various channels, such as wholesalers, retailers, and e-commerce platforms.
- Consumption: Consumers use goods and services to satisfy their needs and wants. Consumption is a key driver of economic activity, as it creates demand for goods and services and generates revenue for businesses.
- Markets: The exchange of goods and services between producers and consumers takes place in markets. Markets can be physical (such as a farmers’ market) or virtual (such as an online marketplace).
- Prices: Prices are the mechanism that signals the relative scarcity or abundance of goods and services in a market. Prices are determined by supply and demand and play a key role in allocating resources efficiently.
- Government: Governments play a critical role in the economy by providing public goods and services (such as infrastructure and education), regulating markets, and redistributing income.
These are some of the key fundamentals of any economy. The specific details of how an economy operates can vary depending on factors such as the level of development, the political system, and cultural norms. These factors are all unique in every market, but every individual is entitled to clean energy, water and air. At Sync we want to engage the public to take action on their local NetZero target for 2050 and earn long-term incremental sustainable income from the generation and consumption of electricity in their place of residence and work. The power generation infrastructure be decentralized in order for the transition to happen at speed and scale. We encourage every citizen in the world to take action by making an investment in their planet. We understand that in the less developed countries even a small investment of $500 can be a challenge. Therefore we are also developing a product that can empower those citizens to participate.
Sync is building a pipeline of renewable energy projects using its proprietary solar technology configuration, however, as we continue to build the next version of Rescua.Earth and its own marketplace, citizens from around the world will have the opportunity to propose renewable energy projects. Sync will coordinate the best suited renewable energy technology for the project, the financing, the installation, and the maintenance using smart-contracts for the duration of the contract, which start for a minimum of 25 years. The benefit to those citizens that propose the project is they become the majority owners of the project earning long-term incremental benefits of renewable energy and a sustainable income stream. This is what we at Sync are calling the Sync Renewable Enerconomy or the SRE.