Thailand’s Ministry of Agriculture plans to install solar panels on at least one million Thai farms in a new pilot project to cut farm electricity bills by 20-30% in 15-20 years. The ministry plans to issue a non-fungible token named “Solar Panels NFT for Thai Farmers” worth around 697 billion baht to legally trade with international investors in Singapore.
The deputy minister of the ministry told reporters that the money raised from the cryptocurrency will be used to purchase high-quality solar panels and donate them to farmers. In addition to helping reduce electricity bills for farms, the project will also help reduce Thailand’s greenhouse gas emissions. The project may even expand to Thai homes and businesses.
Some solar farms have already taken off in Thailand. A “floating farm” in Ubon Ratchathani, a northeastern province, started generating electricity in November. The solar panels cover 720,000 square meters of water surface and use a hybrid system that converts sunlight into electricity during the day and generates hydroelectricity at night. The project includes a ‘Nature Walkway’ in the shape of a sunburst.
Currently, Thailand is still heavily dependent on fossil fuels. The country’s Office of Energy Policy and Planning said in October 2021 that 55% of electricity comes from natural gas. He said 11% came from renewables and hydropower. At the COP26 climate conference in Glasgow, Scotland last year, Prime Minister Prayut set the target of carbon neutrality for 2050, as well as the target of net zero greenhouse gas emissions for 2065.
THE SOURCE: Bangkok Post