A currency backed by energy. This type of currency could be used to create an energy economy - a method for a local currency to be implemented in any community. The problem with many local currencies such as LETS [1] or Ithaca hours is that in businesses that are not a part of the program the currency is useless. However, if the currency can be used by ANY business or community member it can scale. A currency backed by renewable energy achieves this goal. The technology is finally available to make this happen.

Of the many advantages to such a system - adoption of a energy currency could correct the current market failure to address climate change by realigning economics with the reality of net energy.

Sources for Further Reading on the general topic[edit | edit source]

There has also been significant discussion in the literature about an "energy currency" based in the hydrogen economy but this is more focused around an economy run on hydrogen rather than say oil not as the the hydrogen being the means of exchange.

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References[edit | edit source]

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Authors Joshua M. Pearce
Published 2008
License CC-BY-SA-4.0
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