Before, countries around the world tried to build energy self-sufficient cities to prepare for resource depletion due to limited supply of key resources and energy wars, but there are only a few successful cases.
Examples of failed energy self-reliance include Ulleungdo eco-friendly energy self-reliant island launched in 2014 in Korea and Masdar City in the United Arab Emirates. In the case of Korea, it was planned based on a private project, and in the United Arab Emirates, it was planned based on a government project.
The reason for the failure of the two incidents was the lack of capital because residents did not have room to participate in energy self-reliance as they tried to finance their own projects without considering the high cost of installing new and renewable energy facilities.
The most accurate example of this solution is Denmark’s Samso Island. Although the island was considered an underdeveloped area in Denmark, it was led by residents, including holding a renewable energy idea contest, which led to the success of the world’s first complete energy independence in 2006.
Taking this failure as a lesson, Energy Kodex aims to create the right community by providing a MyPower platform for all urban participants to invest in wind and other renewable energy generators.
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