The decentralized physical infrastructure network (DePIN) project Daylight, focused on creating distributed solar power grids, has raised $75 million to expand its solar coverage network in the United States.
Daylight offers solar energy to customers in the form of a subscription service, eliminating the high upfront costs of purchasing and installing solar panels and batteries, which can exceed $30,000. The project's testnet is set to launch in 2024.
The network generates revenue through subscription-based energy services and by feeding excess energy back into the grid. Customers earn "Sun Credits" by contributing to the decentralized solar grid, with plans to launch a token in the future.
According to Daylight's announcement, this round of financing includes venture capital firms Framework Ventures, a16z Crypto, Lerer Hippeau, M13, Room40 Ventures, EV3, and Turtle Hill Capital.
DePIN demonstrates how decentralized technology can create robust community-owned infrastructure by coordinating customer and business incentive mechanisms, generating real-world use cases that contrast with centralized traditional systems.
Artificial intelligence data centers and other high-performance computing facilities, such as cryptocurrency miners, require significant energy inputs, putting pressure on the grid.
Increased demand from the tech industry may also drive up consumer prices. According to Bloomberg, wholesale energy prices near data centers have surged by 267% since 2020.
Greg Osuri, founder of the open-source marketplace Akash Network, told Cointelegraph that centralized data centers powering AI training could trigger a global energy crisis. In this marketplace, users can provide and purchase computing power.
The solution is to decentralize the data center business by sourcing computing power from distributed sources, including consumer-grade personal computers equipped with graphics cards and enterprises running industrial-grade processors.
"Once the incentive mechanisms are established, this will take off like mining," he told Cointelegraph in September.
Tech giants like Google, Amazon, Meta, and Microsoft are already exploring alternative energy sources to power their AI data centers and reduce reliance on the grid.
In June, Amazon signed an agreement with Talen Energy to provide 1,920 megawatts (MW) of nuclear power for its AI data center and service facilities in Pennsylvania.
Related: Dubai partners with DePIN protocol peaq to advance "machine economy" regulation
Original article: “DePIN project Daylight raises $75 million to support decentralized solar grid construction”
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