Soluna Holdings Converts Excess Energy to Cash for Solar and Wind Farms
Soluna Holdings CEO, Michael Toporek, and John Belizaire, CEO of Soluna Computing and EcoChain, Inc. Discuss Why Computing is the Future of Renewable Energy
Michael Toporek and John Belizaire had an idea. What if they could build scalable data centers that consumed excess renewable energy? It would solve a problem for solar and wind farms by converting excess energy that would otherwise go to waste, into cash. It would also increase computing power for a planet sorely in need of additional bandwidth.
That idea is now a reality, and Soluna Holdings (SLNH) is one of the fastest growing companies in the green energy space. The market for Soluna’s services is estimated at between $60 and $80 billion, and includes crypto mining, which is roughly 10% of that number. For Toporek, that’s a home run.
“Our vision is to have a renewable-powered network of data centers all over the world that are always running, either selling computing services to somebody, or filling the extra time or energy with crypto mining or data crunching,” Michael said in a recent video conversation with Belizaire. “Imagine a hotel room where every room is sold every single minute.”
[Watch the video https://vimeo.com/651129289]
Soluna Launches Clean Power Assessment Service
In November, Soluna Holdings announced a new custom curtailment assessment service for clean energy providers. The NDA-protected estimating tool is designed to measure energy production reduction and its impact on the profitability of solar and wind farms. Curtailment is a common practice to prevent excess energy generation.
“In our early days as a wind developer, we learned that curtailment could cause up to 30% losses in profit potential,” said Belizaire. “It’s an avoidable cost. With this new curtailment assessment, we’re now able to alleviate margin worries for clean energy facility owners. Costs for curtailment can range up to $2 million a year.”
The losses Belizaire is referring to come from an inability to deliver on power purchase agreements and the loss of production tax credits and renewable energy certificates. Soluna Holdings can now assess how reducing power output is affecting profits and offer a solution, through its scalable data centers, to eliminate curtailment completely.
Positioned for Hyper-Growth Mode in 2022
Having already proven that their scaling model works, Toporek and Belizaire are aggressively pursuing strategic expansion and expect the company to grow exponentially in 2022.
“Our goal is to get to zero wasted energy as quickly as possible,” Toporek said. “In my mind, scaling is a problem measured in gigawatts, not megawatts. I think within three years, we’ve got a global enterprise that’s solving this on at least three or four continents. And we’ve got gigawatts under management. Getting from here to there, that’s exciting to me.”