Concerns about free energy production, resource consumption and its impact on the environment are one of the dominant topics of debate on the global phase. The intensive energy costs of mining Bitcoin and other proof-of-piece of work cryptocurrencies are besides frequently pointed to as a serious downside to the emerging asset class.

While environmental concerns and the price to reward debate rages on, there is one grouping of cryptocurrency projects that has the goal of bringing blockchain technology to the global energy grids as a way to encourage renewable energy generation through a flexible marketplace that connects energy buyers and sellers.

EWT/USDT vs. POWR/USD vs. WPR/USD 1-day nautical chart. Source: TradingView

3 free energy-focused projects that take seen triple-digit gains since the beginning of 2021 are Energy Spider web Token (EWT), Power Ledger (POWR) and WePower (WPR).

EWT/USDT

Energy Web Token (EWT) is the operational token for the Energy Spider web Concatenation, an open up-source enterprise blockchain designed to support and further awarding development for the energy sector.

According to the projection'due south website, the "Energy Web is accelerating a depression-carbon, client-axial electricity system by unleashing the potential of open up-source, decentralized, digital technologies."

The projection launched in June of 2019 and has since grown to an extensive network of partners with some globally recognized companies including Volkswagen, Siemens and Hitachi.

One time fully adult and integrated, its virtual machine could help connect the unlike areas of the energy sector including grid operators, software developers and vendors.

One of the biggest price movers for EWT in 2021 came at the kickoff of March when the token was listed on the U.Due south.-based Kraken cryptocurrency exchange.

EWT/USDT 4-60 minutes nautical chart. Source: TradingView

The subsequent annunciation of a partnership with Volkswagon on March 4 and the release of the EasyBat battery compliance app on March 16 farther helped provide a boost to the token which went on to plant a new all-time high of $19.85 on March 18.

POWR/USD

The Power Ledger platform was established in May 2016 with the goal of creating an operating arrangement for new energy markets that is capable of trading renewable free energy and environmental commodities on a local and global calibration.

Based out of Commonwealth of australia, the project aims to use blockchain engineering to create a arrangement where every electrical resource or power device has a digital identity that is connected to a real-time market that facilitates the transactions between them.

POWR operates on the Ethereum (ETH) network equally a peer-to-peer energy exchange platform and information technology utilizes a 2-token system comprised of POWR and Sparkz to "ensure consistency across Power Ledger'southward platform," according to the project's website.

Sparkz are stable tokens that are used when units of electricity (kWh) are bought and sold on Power Ledger'due south platform.

Trading activeness for POWR began to pick upwardly at the end of Jan as discussions almost renewable energy began to gain traction in the media.

POWR/USD 4-60 minutes chart. Source: TradingView

The March 3 announcement of Power Ledger'due south partnership with Bharat's largest integrated power visitor Tata Power-DDL kicked off a cost rally which resulted in POWR rallying to $0.504, its highest level since 2018.

WPR/USD

WePower is a blockchain-based light-green free energy trading platform that connects "energy suppliers, corporate buyers and energy producers for easy, straight green energy transactions."

According to the project's website, the WePower platform is "the easiest way for companies of any size to buy green energy straight from local producers," and the platform aims to make "corporate green free energy procurement as easy as online shopping."

WPR is an ERC-xx token that functions as a payment method on the WePower Network. It's used to standardize and increase the available liquidity in the existing energy investment system and should also assistance to reduce prices for network participants.

Trading activity and token began to pick up at the beginning of February when the project handed over its "start fully-featured Elemental platform to Mojo Power.

WPR/USD 4-hr nautical chart. Source: TradingView

Following the launch of the Elemental retail marketplace on February. 1, the toll of WPR surged from a low of $0.011 to a loftier of $0.05 on March 24 as conversations apropos renewable energy and sustainability in Europe and Australia took identify.

Increased global attending on climate and free energy production-related issues suggests that this niche slice of the crypto sector is ripe for further gains.

Projects utilizing blockchain engineering science to optimize global free energy marketplaces are well-positioned to increase their market share as distributed ledger applied science goes mainstream.

The views and opinions expressed hither are solely those of the writer and practice not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves take a chance, you lot should conduct your ain inquiry when making a determination.