INTRODUCTION
The town was struggling economically. The manufacturing plant had shut down years prior. Unemployment was still over 10 percent, with most jobs low-wage and lacking security. Home values had dropped substantially from their peak. Foreclosures were commonplace. The town desperately needed solutions to get back on its feet.
In this environment, the town adopted complementary community currencies and credits systems designed to stimulate local business development. These currencies were backed by renewable electricity production from solar panels, wind turbines, and waste-to-energy systems built in the community. Transactions were handled through digital platforms and stored via blockchain.
The town issued low-interest loans in complementary currency to entrepreneurs to help them get started. One entrepreneur used the funding to set up a small factory with 3D printers and CNC machines to manufacture parts for the new energy systems. Another entrepreneur trained unemployed workers on how to install and maintain wind turbines.
The town signed long-term agreements with local businesses and residents to purchase electricity in exchange for credits that circulated as additional currency. Businesses exchanged excess credits for goods from other participating retailers. Individuals used credits to pay a portion of rents and other local bills.
As the new systems ramped up, the town became a net producer of electricity, selling back to the grid during peak hours. Retrofits like home batteries, smart appliances and electric vehicles helped to balance loads. The localized grid formed its own microgrid able to disconnect from the central grid during disruptions and operate autonomously.
Profits from the excess electricity were used to fund social programs and services. The locally-rooted currency circulated rapidly, encouraging local production and consumption while keeping capital within the community. In time, the networks of decentralized renewable energy systems, complemented by additive manufacturing and supported by community currencies, made the town largely self-sufficient – a model for resilience.