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I don't immediately see how to ensure that only negatively priced electricity (or, at minimum, renewable) could be used. There might be some clever authentication process possible, though...
*"increase the contribution of renewables to the _grid_", not base load.
An amusing enforcement mechanism would be to require that power-generating entities participating could only be paid for power in the underlying coin - let's call it greencoin.
Mining a block would require specifying who you bought your power from, and the price (negative!) paid - i.e., a pointer to the relevant transaction - in addition to the standard things done in mining.
Lots problems with this. Still, an amusing idea, and if it could be made to work would address two big problems simultaneously.
(Context for all this: a huge problem with renewables is that they can be difficult to turn on and turn off. Both California and Germany, which have large renewable components to power, often have to pay other regions to take power off their hands, lest it overwhelm the grid.)
realistically hard to segment bitcoin, but the basic idea of dynamic pricing for utilities based on load or time of day is economically sound https://en.wikipedia.org/wiki/Dynamic_pricing#Time-based_utility_pricing …pic.twitter.com/J5RdmqDT0B
I mean a new cryptocurrency. Not bitcoin.
Best way to do this would be to do it, and price out miners that are using more expensive energy.
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