Photovoltaic window backed security

Abstract

A security for monetizing or securitizing photovoltaic windows, and system and methods for managing securitization of photovoltaic window assets wherein investors are paid from the revenue stream associated with the photovoltaic windows as the revenues are received.

Description

ATTY. DOCKET NO. P25169WO00 PHOTOVOLTAIC WINDOW BACKED SECURITY CROSS-REFERENCE TO RELATED APPLICATIONS

[0001] This application claims the benefit of US Provisional Application Serial No.63 / 500,455 filed May 5, 2023, the content of which are incorporated herein in their entirety. FIELD OF THE INVENTION

[0002] The present disclosure relates to the field of assets and financing and specifically to the securitization of photovoltaic revenue streams. More specifically, systems and methods are disclosed which generally relate to executing transactions for securities based on revenue streams from photovoltaic windows. BACKGROUND

[0003] As the concern of increasing amounts of greenhouse gases elevates, the world is looking for practical solutions for creating new greener forms of energy. One form of green energy relates to the conversion of solar energy to electrical energy, using solar collectors in photovoltaic or solar panels. Solar panels desirably are installed diagonally in a south-facing direction to maximize solar efficiency, although some energy production can be realized by solar panels disposed in non-ideal orientations. Photovoltaic panels have been installed for many years, such as on building roofs. “Solar farms” include a plurality of photovoltaic panels installed over a significant horizontal area such as open fields, canopies over parking lots, etc. However, the availability of suitable areas for installation of solar panels in “horizontal” solar farms is limited. The esthetics of traditional solar panels also may inhibit their installation on buildings. Recently, “vertical” solar farms, using a plurality of solar panels installed on towers have been developed to mitigate some of these drawbacks. However, such single-purpose structures have their own disadvantages. Also, buildings for human occupancy have limited space on which to install solar panels. For example, modern high-rise buildings have a roof that comprises only a small fraction of the total surface area of the building. These buildings typically have extensive glass curtain walls on much of their vertical surfaces. Installation of traditional solar panels on the curtain walls would reduce the available window area for the building occupants. However, since most buildings for human habitation use windows, use of photovoltaic windows offers opportunities for significantly increasing the area available for installation of solar panels.

[0004] Traditional solar collectors are opaque thereby making them inappropriate for use as a glass replacement in windows. New transparent and semi-transparent (referred herein as simplyATTY. DOCKET NO. P25169WO00 ‘transparent’) solar collectors are by their nature clear and encouraging for use as a glass replacement in windows. The challenges of delicate electronic integration aside, substituting transparent solar collectors in the place of traditional glass in windows is desirable for at least the purpose of cleanly generating electricity without substantial change to the esthetics of a building, home, or other structure. Enclosing homes and buildings with these solar collectors gives hope to the possibility of making these structures free of the need of external energy sources or providing auxiliary electrical power generation to be supplied to a distributed power grid.

[0005] US Patent 9,553,219 and US patent application publication US2012 / 027537 disclose glass units includes an energy collecting layer attached to a light directing device for collecting a light energy from the light directing device, and an energy converting layer electrically coupled to the energy collecting layer for converting the light energy into an electric energy, and the light directing device includes a number of nanometer particles to direct the light energy toward the energy collecting layer. The light directing device includes one or more glass layers, and a light collecting panel attached to the glass layer with a bonding layer and made of polymer materials that are mixed with the nanometer particles to form the light collecting panel. The light gathered by the light collecting layer may be directed toward a frame around the glass units with cells for converting the light energy into electric energy.

[0006] US Patents 10,211,776; 10,211,778; 11,489,483 and US patent application publication US2023 / 0058097 disclose operable windows capable of producing an electrical current utilizing a transparent or semi-transparent solar collecting substrate. A scaffold assembly is utilized to enclose the perimeter of the substrate and one or more solar cells. The scaffold may comprise a scaffold port providing passage for an exit conductor from a sash lead in electrical communication with a solar cell.

[0007] The advent of transparent solar collectors, referred to herein as “photovoltaic windows,” offers an opportunity to dramatically increase the amount of solar energy production, without some of the disadvantages of traditional opaque solar panels. However, the additional cost of purchasing and installing photovoltaic windows can be a disincentive to their widespread adoption. It is desirable to offer new ways for investing in photovoltaic energy production.

[0008] A security has been defined as any instrument to which a right to an asset attaches in such a manner that it may not be exercised or transferred to another without the instrument, typically for the purpose of raising capital by selling it to other investors. The process ofATTY. DOCKET NO. P25169WO00 securitization relies upon agreement (contract), indenture, or specific legal regulation, establishing, for instance, stocks and shares. A pass-through security has its origins in mortgage-backed securities. A pass-through security is backed by one or more income generating assets. A servicing intermediary collects the monthly payments from the issuer(s) and, after deducting a fee, remits or passes them through to the holders of the pass-through security (that is, the investors).

[0009] A pass-through security is also known as a "pay-through security" or a "pass-through certificate"—though technically the certificate is the evidence of interest or participation in the income generating asset(s) that signifies the transfer of payments to investors; it is not the security itself.

[0010] A pass-through security is a derivative based on revenues that provides the investor a right to a portion of those incomes. Often, the revenues are from underlying asset(s), which can include things such as mortgages on homes or loans on vehicles. Each security can represent many revenue streams, such as hundreds of home mortgages or thousands of car loans. Extension of the concept of pass-through securities to the realm of photovoltaic energy production may encourage greater investment in photovoltaic energy assets, particularly photovoltaic windows. SUMMARY

[0011] From the foregoing discussion, it should be apparent that a need exists for a system and method that enable financing of photovoltaic windows. Beneficially, such a system and method would establish a reliable marketplace to increase incentives for installation of photovoltaic windows, optimize patterns of productivity, and provide fungibility of revenue streams provided by photovoltaic windows. The innovation presented herein allows for the securitization of photovoltaic window revenue streams.

[0012] A first aspect provides a security for monetizing or securitizing photovoltaic windows, wherein the security comprises a pass-through security that pays a portion of a revenue stream based on energy produced by the photovoltaic windows, to the holder of the security as the revenue stream is received by the issuer of the security.

[0013] Embodiments of the security include the following, alone or in any combination.

[0014] The security wherein the revenue stream comprises tax credits, government incentives or energy purchase or rebates based on the amount of energy produced by the photovoltaic windows.ATTY. DOCKET NO. P25169WO00

[0015] The security may comprise an investment share backed by a plurality of photovoltaic windows providing a defined payout to an owner of the investment share based on a revenue stream associated with energy produced by the photovoltaic windows.

[0016] The security wherein the defined payout comprises a payout triggering event comprising a threshold that occurs when the revenue stream exceeds total expenses associated with production of the photovoltaic windows and installation of them on a structure.

[0017] A second aspect provides distributed networked computer system for managing securitization of revenue based on energy produced by a plurality of photovoltaic windows, the distributed networked computer system comprising: a distributed ledger for smart contract execution across multiple networked nodes; one or more processors; and one or more memories operatively coupled to at least one of the one or more processors and having instructions stored thereon that, when executed by at least one of the one or more processors, cause at least one of the one or more processors to: determine for an issuer of a photovoltaic backed security (“PWBS”) a structure for an offering for the PWBS, wherein the PWBS is backed by a plurality of photovoltaic windows and the structure is based on variables related to the plurality of photovoltaic windows, target capital to be raised, valuation of the energy producible by the photovoltaic windows and risk analysis of the variables, ranges of acceptable values for each variable, and terms and conditions to be included in the offering; transmit a message comprising the offering of the PWBS to a plurality of networked nodes associated with one or more subscribers of the distributed networked computer system; receive one or more bids for one or more shares of the PWBS from one or more of the plurality of networked nodes associated with one or more investors among the subscribers; determine fractional amounts of the shares of the PWBS to allocate to each of the one or more investors based on the one or more bids; detect acceptance, by the issuer, of the bids from the one or more investors; generate a set of one or more terms and conditions between the one or more investors and the issuer based at least in part on the bids and allocated shares; transmit a transaction comprising compiled code corresponding to a smart contract to a special receiver address on the distributed ledger, the smart contract comprising immutable self-executing code configured to be accessible to the one or more networked nodes associated with the one or more investors and the issuer, wherein the smart contract is configured to execute manage payments in response to the one or more terms and conditions; and determine that the target capital is raised and close availability of shares in the PWBS.ATTY. DOCKET NO. P25169WO00

[0018] Embodiments of the system include the following, alone or in any combination.

[0019] The distributed networked computer system wherein variables related to the plurality of photovoltaic windows include the number and size of the photovoltaic windows, the geographic location and orientation of the structure where the photovoltaic windows are installed, the amount of shading on the photovoltaic windows and the variables are used to determine a power generation module.

[0020] The distributed networked computer system wherein payments include bid amounts plus transaction fees from the one or more investors to the issuer, payments from the revenue streams associated with the photovoltaic windows to the issuer, or payments to the one or more investors based on the terms and conditions of the photovoltaic window securities.

[0021] The distributed networked computer system wherein the revenue stream comprises tax credits, government incentives or energy purchase or rebates based on the amount of energy produced by the photovoltaic windows.

[0022] The distributed networked computer system wherein the smart contract comprises a defined payout to an owner of a share of the PWBS based on a revenue stream associated with energy produced by the photovoltaic windows.

[0023] The distributed networked computer system wherein the defined payout comprises a payout triggering event comprising a threshold that occurs when the revenue stream exceeds total expenses associated with production of the photovoltaic windows and installation of them on a structure.

[0024] A third aspect provides at least one non-transitory computer-readable medium storing computer-readable instructions that, when executed by one or more computing devices, cause at least one of the one or more computing devices to: determine for an issuer of a photovoltaic backed security (“PWBS”) a structure for an offering for the PWBS, wherein the PWBS is backed by a plurality of photovoltaic windows and the structure is based on variables related to the plurality of photovoltaic windows. target capital to be raised, valuation of the energy producible by the photovoltaic windows and risk analysis of the variables, ranges of acceptable values for each variable, and terms and conditions to be included in the offering; transmit a message comprising the offering of the PWBS to a plurality of networked nodes associated with one or more subscribers of the distributed networked computer system; receive one or more bids for one or more shares of the PWBS from one or more of the plurality of networked nodes associated with one or moreATTY. DOCKET NO. P25169WO00 investors among the subscribers; determine fractional amounts of the shares of the PWBS to allocate to each of the one or more investors based on the one or more bids; detect acceptance, by the issuer, of the bids from the one or more investors; generate a set of one or more terms and conditions between the one or more investors and the issuer based at least in part on the bids and allocated shares; transmit a transaction comprising compiled code corresponding to a smart contract to a special receiver address on the distributed ledger, the smart contract comprising immutable self-executing code configured to be accessible to the one or more networked nodes associated with the one or more investors and the issuer, wherein the smart contract is configured to execute manage payments in response to the one or more terms and conditions; and determine that the target capital is raised and close availability of shares in the PWBS.

[0025] Embodiments of the non-transitory computer readable storage medium include the following, alone or in any combination.

[0026] The at least one non-transitory computer-readable medium wherein payments include bid amounts plus transaction fees from the one or more investors to the issuer, payments from the revenue streams associated with the photovoltaic windows to the issuer, or payments to the one or more investors based on the terms and conditions of the photovoltaic window securities.

[0027] The at least one non-transitory computer-readable medium wherein the revenue stream comprises tax credits, government incentives or energy purchase or rebates based on the amount of energy produced by the photovoltaic windows.

[0028] The at least one non-transitory computer-readable medium wherein the smart contract comprises a defined payout to an owner of a share of the PWBS based on a revenue stream associated with energy produced by the photovoltaic windows.

[0029] The at least one non-transitory computer-readable medium wherein the defined payout comprises a payout triggering event comprising a threshold that occurs when the revenue stream exceeds total expenses associated with production of the photovoltaic windows and installation of them on a structure.

[0030] Another aspect provides a method executed by one or more computing devices for smart contract execution across multiple networked nodes on a distributed ledger, the method comprising: determining for an issuer of a photovoltaic backed security (“PWBS”) a structure for an offering for the PWBS, wherein the PWBS is backed by a plurality of photovoltaic windows and the structure is based on variables related to the plurality of photovoltaic windows. targetATTY. DOCKET NO. P25169WO00 capital to be raised, valuation of the energy producible by the photovoltaic windows and risk analysis of the variables, ranges of acceptable values for each variable, and terms and conditions to be included in the offering; transmitting a message comprising the offering of the PWBS to a plurality of networked nodes associated with one or more subscribers of the distributed networked computer system; receiving one or more bids for one or more shares of the PWBS from one or more of the plurality of networked nodes associated with one or more investors among the subscribers; determining fractional amounts of the shares of the PWBS to allocate to each of the one or more investors based on the one or more bids; detecting acceptance, by the issuer, of the bids from the one or more investors; generating a set of one or more terms and conditions between the one or more investors and the issuer based at least in part on the bids and allocated shares; transmitting a transaction comprising compiled code corresponding to a smart contract to a special receiver address on the distributed ledger, the smart contract comprising immutable self-executing code configured to be accessible to the one or more networked nodes associated with the one or more investors and the issuer, wherein the smart contract is configured to execute manage payments in response to the one or more terms and conditions; and determining that the target capital is raised and close availability of shares in the PWBS.

[0031] Embodiments of the method include the following, alone or in any combination.

[0032] The method wherein payments include bid amounts plus transaction fees from the one or more investors to the issuer, payments from the revenue streams associated with the photovoltaic windows to the issuer, or payments to the one or more investors based on the terms and conditions of the photovoltaic window securities.

[0033] The method wherein the revenue stream comprises tax credits, government incentives or energy purchase or rebates based on the amount of energy produced by the photovoltaic windows.

[0034] The method wherein the smart contract comprises a defined payout to an owner of a share of the PWBS based on a revenue stream associated with energy produced by the photovoltaic windows.

[0035] The method wherein the defined payout comprises a payout triggering event comprising a threshold that occurs when the revenue stream exceeds total expenses associated with production of the photovoltaic windows and installation of them on a structure.ATTY. DOCKET NO. P25169WO00 BRIEF DESCRIPTION OF THE DRAWINGS

[0036] In order that the advantages of the invention will be readily understood, a more particular description of the invention briefly described above will be rendered by reference to specific embodiments that are illustrated in the appended drawings. Understanding that these drawings depict only typical embodiments of the invention and are not therefore to be considered as limiting of its scope, the invention will be described and explained with additional specificity and detail using the accompanying drawings.

[0037] FIGURE 1 depicts a schematic chart of a photovoltaic system comprising photovoltaic windows for generating solar power that can be monetized according to an exemplary embodiment of the disclosed subject matter.

[0038] FIGURES 2A-2B depict a schematic functional diagram of a computer system relating to planning and developing securities, modeling and evaluating alternatives, as well as executing and administering an offering for sale of securities according to an exemplary embodiment of the disclosed subject matter.

[0039] FIGURE 3 depicts a functional diagram of components of a computer system according to an exemplary embodiment of the disclosed subject matter.

[0040] FIGURE 4 shows a process flow diagram for defining, offering for sale and administering a photovoltaic window-based security according to an embodiment of the disclosed subject matter.

[0041] FIGURES 5A and 5B are schematic diagrams illustrating example embodiments of a system comprising nodes and users that may be involved in a distributed networked system utilizing one or more smart contracts on a distributed ledger technology platform offering for sale and administering a photovoltaic window security in accordance with disclosed subject matter. DETAILED DESCRIPTION

[0042] In accordance with various embodiments of the invention, and as shown in the figures, various systems and methods are disclosed which generally provide a platform for the creation, communication, price quotation, and execution of trades for specified pools of photovoltaic window securities.

[0043] This disclosure provides systems and methods for securitization of revenue streams associated with photovoltaic windows. As used herein, a photovoltaic window is a photovoltaic panel comprising transparent or semitransparent panels (glass, polymer) that allows a percentageATTY. DOCKET NO. P25169WO00 of visible light to pass through from the incident side to the back side. Transparent” refers to allowing visible light to pass through so that objects behind can be distinctly seen. “Semitransparent” refers to allowing scattered or diffused light to pass through, but detailed shapes cannot be seen; also may be termed as “translucent.” Desirably, a percentage of total light incident on the photovoltaic window is scattered to the edge of the window to be collected and converted to electrical energy. Preferably, a major fraction of the scattered light is not visible light and may comprise ultraviolet light.

[0044] As used herein, “glass” refers to any transparent or semi-transparent material suitable for use in windows and specifically photovoltaic windows and includes "silicate glasses" based on the chemical compound silica, polymeric materials such as polycarbonate, and laminates thereof.

[0045] A “photovoltaic window system” comprises one or more photovoltaic windows and associated electrical components such as wiring, circuit panels, connectors, aggregators, inverters, microinverters, processors, etc. to enable power generated by individual photovoltaic windows to be collected and converted from DC to AC power to be sold to the power grid and generate revenue.

[0046] One can appreciate that the cost for purchasing and installing a photovoltaic window system may result in a significant upcharge over non-photovoltaic windows. However, since most buildings for human habitation use windows, the ability to replace ordinary windows with photovoltaic windows for clean energy production is highly desirable. This presents an incentive and opportunity for financing the upcharge in return for a future revenue stream from the photovoltaic window systems.

[0047] The term Photovoltaic Window-Backed Security relates to the transaction process of securitizing one or more photovoltaic windows. It originates with the revenue associated with the photovoltaic windows, which pass through a collecting society before being released to the investor.

[0048] Monetization is the action or process of earning revenue from an asset, such as a photovoltaic window, and includes for example: sale of energy produced by the photovoltaic window; local, state, or federal government incentive payments including tax credits; energy company incentives; and maintenance fees. In any case, the payments may be modified based on their association to one or more thresholds related to the level of usage.ATTY. DOCKET NO. P25169WO00

[0049] A Photovoltaic Window Backed Security may comprise a revenue stream derived from monetization of photovoltaic windows. A servicing intermediary may collect revenue payments from the issuer and, after deducting a small management fee, remits or passes a portion of the revenue through to the holders of the photovoltaic window pass-through security.

[0050] FIGURE 1 depicts a schematic chart of a photovoltaic system 1 comprising photovoltaic windows 10 for generating solar power that can be monetized using a photovoltaic window backed security (PWBS) 20. Energy from solar and ambient light 5 incident on the photovoltaic windows 10 is converted to direct current (DC) electrical energy and is conducted to one or more inverters 12. Optionally, a battery 13 may be used to store the DC energy for future use, such as for backup power. The inverters 12, discussed below, convert the DC electricity into alternating current (AC) useful for powering circuits and sends it to a local circuit panel 13, which can direct it to local individual circuits 14 for powering lights, devices, etc. The circuit panel is electrically connected to a meter 15 that measures the amount of power flowing into or out of the local system. If the amount of power usage in the local circuits exceeds the amount generated by the photovoltaic windows, the power needed can be purchased from the power grid 16. If the amount of power usage in the local circuits is less than the amount generated by the photovoltaic windows, the excess power can be sent through the meter and sold to the power grid 16. The difference between power generated by the system and purchased from the grid provides a revenue stream that can be securitized via a PWBS 20.

[0051] A solar inverter or photovoltaic (PV) inverter is a type of power inverter which converts the variable direct current (DC) output of a photovoltaic window into a utility frequency alternating current (AC) that can be fed into a commercial electrical grid or used by a local, off-grid electrical network. It is a critical balance of system (BOS) component in a photovoltaic system, allowing the use of ordinary AC-powered equipment. Solar power inverters have special functions adapted for use with photovoltaic arrays, including maximum power point tracking and anti-islanding protection.

[0052] Solar inverters include: (a) Grid-tie inverters, which match phase with a utility-supplied sine wave. Grid-tie inverters are designed to shut down automatically upon loss of utility supply, for safety reasons. They do not provide backup power during utility outages. (b) Battery backup inverters are special inverters which are designed to draw energy from a battery, manage the battery charge via an onboard charger, and export excess energy to the utility grid. These invertersATTY. DOCKET NO. P25169WO00 are capable of supplying AC energy to selected loads during a utility outage and are required to have anti-islanding protection. (c) Intelligent hybrid inverters manage photovoltaic array, battery storage and utility grid, which are all coupled directly to the unit. These modern all-in-one systems are usually highly versatile and can be used for grid-tie, stand-alone or backup applications but their primary function is self-consumption with the use of storage.

[0053] Solar inverters use maximum power point tracking (MPPT) to get the maximum possible power from the PV array. Solar cells have a complex relationship between solar irradiation, temperature and total resistance that produces a non-linear output efficiency known as the I-V curve. It is the purpose of the MPPT system to sample the output of the cells and determine a resistance (load) to obtain maximum power for any given environmental conditions.

[0054] Microinverters have several advantages over conventional inverters. The main advantage is that they electrically isolate the PWs from one another, so small amounts of shading, debris, etc. on any one PW, or even a complete module failure, do not disproportionately reduce the output of the entire array. Each microinverter harvests optimum power by performing maximum power point tracking (MPPT) for its connected module. Simplicity in system design, lower amperage wires, simplified stock management, and added safety are other factors introduced with the microinverter solution. Use of microinverters also allow tracking a problem such as reduced power output to a specific photovoltaic window for corrective maintenance or replacement. Alerts associated with the ineffective photovoltaic window can be made via a computerized system to a power consumer where the window is installed and / or to a photovoltaic window maintenance service provider to correct the problem. In some embodiments, the alert can be transmitted wirelessly to devices associated with the power consumer and / or the maintenance service provider.

[0055] Aggregators can be used to collect the AC current from a plurality of microinverters to provide a single AC current for conduction to the circuit panel.

[0055] The photovoltaic window or a plurality of photovoltaic windows may be securitized by assigning it to an issuer of photovoltaic window-backed securities. For example, a supplier (or installer) of photovoltaic windows may define a unique identifier to a photovoltaic window, which can be tracked from manufacture through installation on a building and after installation for determining revenue associated with the photovoltaic window and maintaining the photovoltaic window. The issuer determines a valuation for the assigned photovoltaic window(s) and definesATTY. DOCKET NO. P25169WO00 an offering of photovoltaic window-backed securities based on the assigned photovoltaic window(s) for sale to one or more investors. The valuation can involve analysis of variables via a computer system such as the securities planning module 220 described below. The offering defines a plurality of fractional shares of the PWBS that provide a future payout to the investors based on revenue derived from the photovoltaic window(s). The issuer may retain management of the photovoltaic window directly, or revert it back to the supplier, or assign it to a service provider. Investors purchase fractional shares of the PWBS based on promise of future earnings. The PWBS may be administered in a distributed networked computer system using smart contracts among the issuer, the supplier, and the investors. The system automatically pays out to investors in response to revenue stream triggering events based on the terms of the smart contracts. In embodiments, the issuer and / or supplier may hold a fraction of the PWBS to also receive future income from the revenue generated by the asset.

[0056] Each security can represent a single photovoltaic window or more typically a plurality of photovoltaic windows in a photovoltaic window system, or a plurality of photovoltaic window systems.

[0057] Payments may be made to investors periodically or following a triggering event, corresponding with the payment schedules set in the terms of the PWBS.

[0058] The photovoltaic window securities systems and methods described herein allow for investment in photovoltaic windows, wherein individual investors can invest in specific photovoltaic window offerings.

[0059] As shown in FIG. 2A, a computer system 200 is a core element of the photovoltaic window securities architecture, receiving, generating, storing, integrating and coordinating data required for defining a PWBS receiving investment payments from a plurality of investors 205, matching bids from the plurality of investors, optionally generating smart contracts among investors and the company or issuer, determining revenues related to the photovoltaic window systems and administering payouts to investors. The computer system is further provided with at least one processor into which is loaded software components for receiving informational inputs from the plurality of investors via communications module or interface 210.

[0060] Block 210 represents a communication module, which manages inputs from investors and transmits outputs to the investors. Inputs from investors include investing information, investor identity, designation of a payment vehicle or digital “wallet”, such as a credit or debitATTY. DOCKET NO. P25169WO00 account, including credit or debit cards issued by a financial institution, Venmo®or Pay Pal®apps, etc. Communications module 210 may also be used by administrator(s) 207 of the computer system to communicate with the system. Administrator(s) may provide inputs to the system to maintain and manage the system to make sure it is operating correctly. In embodiments, the administrator(s) 207 may also provide inputs to the system to designate photovoltaic windows for investors to invest in, risks assessments, projected revenue streams, etc.

[0061] In block 220, the system includes a securities planning module in which the photovoltaic window securities are defined, as described in greater detail regarding Figure 2B.

[0062] Block 230 comprises the financial transactions module that manages payments from investors to cover their bids, payments to investors and collection of transaction fees. In embodiments, once a bid is accepted, the financial transactions module may withdraw the bid amounts plus transaction fees from investors’ payment vehicles in response to acceptance of bids by the computer system. Block 230 also receives payments from the revenue streams associated with the photovoltaic windows backing the photovoltaic window securities and disburses payments to the investors based on the terms of the photovoltaic window securities.

[0063] In embodiments, the photovoltaic window securities may be offered in the form of a smart contract, described in greater detail below. In block 240, the smart contract module executes smart contracts by generating data blocks defining the photovoltaic window securities, including all terms and conditions binding on the investors and the users such as purchase prices, revenue streams from the photovoltaic window systems, percentages of the revenue streams represented by the securities, etc.

[0064] Block 250 shows the securities administration module, which executes and administers the photovoltaic window securities.

[0065] As shown in Figure 2B, block 220 comprises aspects of defining the photovoltaic window security offerings.

[0066] In block 221, planning the offering of securities includes establishing the target amount of capital to be raised. Guided by inputs from administrator(s) of the system representing the seller, bank, broker, underwriter and / or other financial institutions, the system conducts feasibility studies for offering intellectual properties to define the structure of the offering. The offering planning includes specific variables to be included, ranges of acceptable values for each variable, and terms and conditions to be included in the offering.ATTY. DOCKET NO. P25169WO00

[0067] In certain embodiments the status, quality and profitability of the photovoltaic window right are analyzed according to market value. A process for risk calculation may be included in the process for valuation. The issued security may become the basis for a subscription, which is then available to an investor.

[0068] One can appreciate each photovoltaic window system is unique, depending on the location of the installation, the number of photovoltaic windows, the power expected to be generated, the value (price) of electrical power at the location, etc. One can also appreciate that power generated by a given photovoltaic window model is dependent on a number of variables, including its geographic location and orientation, the amount of direct sunlight and indirect ambient light incident on the window, shading, elevation, etc. Accordingly, a first aspect of valuing a PW system includes determining a power generation model. For example, for a single- family home, the number of windows, the geographic location and orientation of the home, the amount of shading by trees, etc. can be used to calculate the expected power generation for the home. A multi-tenant building involves a similar calculation, except that the amount of available surface for installing PWs is generally greater. For a typical high-rise building comprising glass curtain walls, the percentage of the total surface area available for PW installation may approach or exceed 90%. However, power generated by an individual window in the system may be dependent on which way it faces, the floor it is on, the shade from adjacent buildings, etc. The power generation model can be compared to a power consumption model to project an expected revenue stream for the system.

[0069] In block 222, the system models and projects multiple values of individual variables and combinations of multiple sets of variables, such as time series projections and economic modeling of interaction among variables.

[0070] For example, a PWBS may be based on the projected revenue of a pool of individual single-family homes, like a mortgage-backed security. Each project may be for new construction or replacement windows. For such a security, a significant input may be inclusion of solar energy tax credits to the occupants of the homes that can be input as part of a revenue stream associated with the pool.

[0071] In other embodiments, a PWBS may be based on a single multistory high-rise building. In some embodiments, the photovoltaic windows in the building may be assigned to a tenant based on the space the tenant occupies for the purposes of defining a revenue stream to be paid to theATTY. DOCKET NO. P25169WO00 PWBS as part of a lease agreement. Because individual windows may produce different amounts of power based on their location in the buildings, the valuation of each window may be different. In other embodiments, the windows for the entire building may be combined into a single pool to provide an average valuation, which can be allocated to tenants based on a pro-rated formula.

[0072] In block 223, the system evaluates alternatives by reviewing results of modeling and projections. Selecting one or more sets of variables that meet targets may be used to refine the structure and value of variables and terms and conditions for price categories of the photovoltaic window shares. Additional modeling and projections may be required to define a preferred set of values for the variables and terms and conditions for inclusion in the offering of securities in the price categories of the photovoltaic window shares. When initiated by the seller, one or more photovoltaic window securities may be offered as individual or pooled assets. When initiated by a buyer, the buyer may input a desired type of security and the system may generate securities based on the defined characteristics.

[0073] Figure 2B also shows block 250 comprising aspects of administering the photovoltaic window security offerings.

[0074] In block 251, the system executes the offering of the securities. The price and content of the individual shares of the price category tranches are established, including definitions of shares of revenues and assets to be included in each offering. Technical and legal details are finalized and the photovoltaic window securities are brought to market. The system receives and accepts bids for shares in each photovoltaic window security from at least one investor, tracks progress of sales of shares within each photovoltaic window security and closes sales when target values are met. The system may also receive sell orders from holders of shares and sell them to new investors.

[0075] Block 251 may comprise an order creation module. In general, the order creation module may have two modes of functionality. In a first mode, the order creation module permits a buyer to search a database of specified pools and to select one or more pools from the inventory for pricing by a selected group of sellers. It will be understood from the following disclosure that, although multiple pools are selected, any number of pools less than the total number selected (or none) may be quoted and ultimately traded. In a second mode, a buyer is provided with the option to select the characteristics of a desired specified pool. These characteristics may be transmitted through system 200 to one or more sellers. The sellers can identify one or more pools in theirATTY. DOCKET NO. P25169WO00 respective inventories that substantially meet the buyer’s specified set of characteristics or agree to create a specified pool meeting such characteristics.

[0076] In operation, by setting various criteria and through selection of one or more sellers, through the operation of the order creation module, buyers can create a customized inventory query which will return available asset securities from database(s) in the system (See Figure 3). In the alternative, the query can be submitted directly to the seller to determine whether the seller has or can stipulate to an asset security meeting the buyer's requirement. This feature may be used when a security meeting the buyer's requirement is not in the inventory of one or more sellers.

[0077] In an alternative embodiment, wherein one or more desired securities are not in an inventory of offered properties, a buyer may be enabled to send an inquiry message to one or more sellers inquiring as to the availability of a security meeting the buyer's needs. In this embodiment, a buyer typically creates an order query using system 200’s order creation module to determine whether the desired security is listed in the system’s database of securities previously populated by one or more sellers. Such query details may include, title(s) or other identifier(s) of assets, a pool number of an asset pool, a weighted average maturity, a constant payment rate, an originator identifier, etc. While the buyer may use various inventory filters to enable the buyer to search for securities meeting defined criteria, in some instances, the desired security may not be available. In those instances, the buyer can define the criteria according to which an inquiry message will be generated and transmitted to one or more sellers. A dealer or agent list may include a list of dealers, acting as sellers, and aspects of the buyer interface enable the buyer to select the dealers to which the inquiry message will be transmitted. Once the buyer completes the process of inputting desired criteria and selecting dealers, the criteria and dealer data is transmitted to and received by system 200. System 200 then generates an inquiry message which includes the characteristics for the pool of assets defined by the buyer. The data in the inquiry message is then transmitted to the selected dealer(s)

[0078] In block 252, the system administers the securities (shares) in the offering. The photovoltaic window supplier and / or the issuer may engage a photovoltaic window manager and a collection society may collect and disperse payments. In a PWBS, the consumer of the power generated by the photovoltaic window system is responsible to assign the revenue associated with the PW system to the security for payout to the investor until defined thresholds are met. In embodiments, the revenue may comprise tax credits, rebates or other incentives payable to aATTY. DOCKET NO. P25169WO00 consumer for installing photovoltaic windows on their property. After installation, revenue is based on the difference between consumer usage of power and payments from the utility company for excess power sold to the energy grid. The revenue may be paid by the consumer in fixed or variable amounts depending on the terms of the security. In some instances, the consumer may delegate the financial transactions involved in payments to a settlement agent to interact with the PWBS system to manage the payments. The system maintains detailed and current records of individual investor and power consumer accounts as required for periodic and cumulative payments, tax treatment, benefits, reports and other purposes. It maintains required and useful records related to financial analysis and financial reports of investors, brokers, and other involved parties. In embodiments, the records may be recorded in a distributed ledger such as a blockchain.

[0079] In embodiments, the offering, sale, and administration of the photovoltaic window securities may be conducted as a smart contract.

[0080] A smart contract is a computer application simulating the operation of a contract. It is a computer program or a transaction protocol which is intended to automatically execute, control or document legally relevant events and actions according to the terms of a contract or an agreement between or among parties. The objectives of smart contracts are the reduction of need in trusted intermediators, arbitrations and enforcement costs, fraud losses, as well as the reduction of malicious and accidental exceptions. The smart contract is stored on a distributed ledger such as a blockchain that runs when predetermined conditions are met. Distributed ledger technology (DLT) is a digital system for recording the transaction of assets in which the transactions and their details are recorded in multiple places at the same time. Unlike traditional databases, distributed ledgers have no central data store or administration functionality. They may be used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary's involvement or time loss.

[0081] The reliability of the smart contract comes from its automaticity which gives it a power of execution unmatched to date.

[0082] A smart contract also can be regarded as a secured stored procedure as its execution and codified effects like the transfer of some value between parties are strictly enforced and cannot be manipulated, after a transaction with specific contract details is stored into a blockchain or distributed ledger. That is because the actual execution of contracts is controlled and audited by the platform, not by any arbitrary server-side programs connecting to the platform. Smart contractsATTY. DOCKET NO. P25169WO00 are particularly useful for managing exchanges of virtual financial or value assets, where no tangible materials need to be moved.

[0083] Blockchain is a distributed ledger technology that enables a set of peers to work together to create a unified, decentralized network. The peers can communicate and share information or data with the help of a consensus algorithm. There is no need for a centralized authority, which makes the whole network trustworthy when compared to other networks. When one peer sends information to another, a transaction is generated in the form of a “block”. Blocks are used to store transactions and other important information that is required to operate the blockchain successfully. When this happens, the transactions need to be validated using the consensus algorithm. Proof of Work is used to validate the work. It ensures that no invalid transactions are passed into the blockchain. Timestamps are created to ensure that each transaction can be traced, backed, and verified by anyone. The blockchain provides transparency, immutability, and security.

[0084] The contracting parties program the contractual terms, payments to be made and all dispatches of documents used for the execution of the contract in the software application and may no longer retract their commitments. Once launched, the application performs the scheduled operations without human intervention, as scheduled or triggered by a defined triggering event.

[0085] End clients interact with a smart contract through transactions. Such transactions with a smart contract can invoke other smart contracts. These transactions might result in changing the state and sending financial assets from one smart contract to another or from one account to another. Financial assets can include nationally denominated currencies, cryptocurrencies, virtual stock certificates, or other assets whose value can be defined digitally.

[0086] Like a transfer of value on a blockchain, deployment of a smart contract on a blockchain occurs by sending a transaction from a wallet for the blockchain. The transaction includes the compiled code for the smart contract as well as a special receiver address. That transaction must then be included in a block that is added to the blockchain, at which point the smart contract's immutable self-executing code will execute to establish the initial state of the smart contract. Byzantine fault-tolerant algorithms secure the smart contract in a decentralized way from attempts to tamper with it. Once a smart contract is deployed, it cannot be updated. Smart contracts on a blockchain can store arbitrary state and execute arbitrary computations.ATTY. DOCKET NO. P25169WO00

[0087] The reliability of the smart contract can be greatly increased by relying on a decentralized IT environment allowing secure access to the contractors and unfalsifiable by them.

[0088] Each smart contract may include information about the investment in the photovoltaic window-backed security. Such information may include the amount of the investment, the agreed- upon payouts, triggering events, the revenue stream, the time the investment is agreed upon, the identities of the parties, etc. Investment information may further include conditional outcomes based upon each potential outcome, including the facilitation of payment from the seller to the investor, and / or the return of funds in event of a void or cancellation. In some embodiments, a settlement service may be agreed upon among the parties.

[0089] Some embodiments provide that the smart contracts may be generated on individual PC's, on a mobile device and / or in the cloud. Such examples are non-limiting as the smart contracts may be generated at a variety of other devices and / or types thereof. In some embodiments, each smart contract may involve external services at the discretion of the parties. In some embodiments, a range of options may be selected by the parties at the time the smart contract is generated.

[0090] Some embodiments provide that a smart contract may be registered with a settlement service provider that is agreed to by the parties. In some embodiments, a settlement service may provide information about the outcome, such as revenue generated, of the photovoltaic windows on which the security is based. In some embodiments, the settlement service may send the information to the counterparties, which may trigger the payouts under the terms of the smart contract. For example, the settlement service provider may initiate a bank transfer from the seller to the buyer based on the smart contract, or from the power consumer (e.g., incentive payment or energy purchase by the grid) directly to the investor. In some embodiments, the process may be automated by software on a computer and / or server controlled by the settlement service. Embodiments herein do not require the funds to be held in any kind of escrow, however, such option is contemplated by this disclosure. For example, embodiments herein are directed to any financial settlement process that may be used in conjunction with the smart contracts as disclosed herein.

[0091] Some embodiments provide that the settlement transaction may be stored in blockchain to close the contract. In some embodiments, details corresponding to the settlement transaction may be retained for auditing, later scrutiny and / or to ensure that no errors are made.ATTY. DOCKET NO. P25169WO00

[0092] FIG. 3 depicts a computer system 300 according to an embodiment of the present disclosure. In general, the computer system 300 may include a computing device 310, such as a special-purpose computer designed and implemented for receiving user inputs, and determining, directing and controlling the output of signals. The computing device 310 may be or include data sources, client devices, and so forth. In certain aspects, the computing device 310 may be implemented using hardware or a combination of software and hardware. The computing device 310 may be a standalone device, a device integrated into another entity or device, a platform distributed across multiple entities, or a virtualized device executing in a virtualization environment.

[0093] The computing device 310 may communicate across a network 302. The network 302 may include any data network(s) or internetwork(s) suitable for communicating data and control information among participants in the computer system 300. This may include public networks such as the Internet, private networks, and telecommunications networks such as the Public Switched Telephone Network or cellular networks using cellular technology and / or other technologies, as well as any of a variety other local area networks or enterprise networks, along with any switches, routers, hubs, gateways, and the like that might be used to carry data among participants in the computer system 300. The network 302 may also include a combination of data networks and need not be limited to a strictly public or private network.

[0094] The computing device 310 may communicate with an external device 304. The external device 304 may be any computer, mobile device such as a cell phone, tablet, smart watch or other remote resource that connects to the computing device 310 through the network 302. For example, external computing devices 304 associated with users of the network may provide nodes in the distributed networked system. This may include any of the servers or data sources described herein, including servers, content providers, databases or other sources for information to be used by the devices as described herein.

[0095] In general, the computing device 310 may include at least one controller or processor 312, a memory 314, a network interface 316, a data store 318, and one or more input / output interfaces 320. The computing device 310 may further include or be in communication with peripherals 322 and other external input / output devices that might connect to the input / output interfaces 320.ATTY. DOCKET NO. P25169WO00

[0096] The controller 312 may be implemented in software, hardware or a combination of software and hardware. According to one aspect, the controller 312 may be implemented in application software running on a computer platform. Alternatively, the controller 312 may include a processor or other processing circuitry capable of processing instructions for execution within the computing device 310 or computer system 300. The controller 312, as hardware, may include a single-threaded processor, a multi-threaded processor, a multi-core processor and so forth. The controller 312 may be capable of processing instructions stored in the memory 314 or the data store 318.

[0097] The memory 314 may store information within the computing device 310. The memory 314 may include any volatile, non-volatile memory, non-transitory or other computer-readable medium, including without limitation a Random-Access Memory (RAM), a flash memory, a Read Only Memory (ROM), a Programmable Read-only Memory (PROM), an Erasable PROM (EPROM), registers, and so forth. The memory 314 may store program instructions, program data, executables, and other software and data useful for controlling operation of the computing device 310 and configuring the computing device 310 to perform functions for a user 1330. The memory 314 may include different stages and types of memory for different aspects of operation of the computing device 310. For example, a processor may include local memory and / or cache for faster access to certain data or instructions, and a separate, main memory or the like may be included to expand memory capacity as desired. All such memory types may be a part of the memory 314 as contemplated herein.

[0098] The memory 314 may, in general, include a non-volatile computer readable medium containing computer code that, when executed by the computing device 310 creates an execution environment for a computer program in question, e.g., code that constitutes processor firmware, a protocol stack, a database management system, an operating system, or a combination of the foregoing, and that performs some or all of the steps set forth in the various flow charts and other algorithmic descriptions set forth herein. While a single memory 314 is depicted, it will be understood that any number of memories may be usefully incorporated into the computing device 310.

[0099] The network interface 316 may include any hardware and / or software for connecting the computing device 310 in a communicating relationship with other resources through the network 302. This may include remote resources accessible through the Internet, as well as localATTY. DOCKET NO. P25169WO00 resources available using short range communications protocols using, e.g., physical connections (e.g., Ethernet), radio frequency communications (e.g., Wi-Fi, Bluetooth), optical communications (e.g., fiber optics, infrared, or the like), ultrasonic communications, or any combination of these or other media that might be used to carry data between the computing device 310 and other devices. The network interface 316 may, for example, include a router, a modem, a network card, an infrared transceiver, a radio frequency (RF) transceiver for receiving AM / FM or satellite radio sources, a near field communications interface, a radio-frequency identification (RFID) tag reader, or any other data reading or writing resource or the like.

[0100] The network interface 316 may include any combination of hardware and software suitable for coupling the components of the computing device 310 to other computing or communications resources. By way of example and not limitation, this may include electronics for a wired or wireless Ethernet connection operating according to the IEEE 802.11 standard (or any variation thereof), or any other short- or long-range wireless networking components or the like. This may include hardware for short range data communications such as Bluetooth or an infrared transceiver, which may be used to couple to other local devices, or to connect to a local area network or the like that is in turn coupled to a data network 302 such as the Internet. This may also include hardware / software for a WiMax connection or a cellular network connection (using, e.g., CDMA, GSM, LTE, or any other suitable protocol or combination of protocols). The network interface 316 may be included as part of the input / output devices 320 or vice-versa.

[0101] The data store 318 may be any internal or external memory store providing a computer- readable medium such as a disk drive, an optical drive, a magnetic drive, a flash drive, or other device capable of providing mass storage for the computing device 310. The data store 318 may store computer readable instructions, data structures, program modules, and other data for the computing device 310 or computer system 300 in a non-volatile form for relatively long-term, persistent storage and subsequent retrieval and use. For example, the data store 318 may store an operating system, application programs, program data, databases, files, and other program modules or other software objects and the like. At least a portion of the data store 318 may be implemented in a distributed ledger technology such as a blockchain to record transaction information and smart contracts.

[0102] As used herein, processor, microprocessor, and / or digital processor may include any type of digital processing device such as, without limitation, digital signal processors (“DSPs”),ATTY. DOCKET NO. P25169WO00 reduced instruction set computers (“RISC”), complex instruction set computers (“CISC”) processors, microprocessors, gate arrays (e.g., field programmable gate arrays (“FPGAs”)), programmable logic device (“PLDs”), reconfigurable computer fabrics (“RCFs”), array processors, secure microprocessors, and application-specific integrated circuits (“ASICs”). Such digital processors may be contained on a single unitary integrated circuit die or distributed across multiple components.

[0103] As used herein, computer program and / or software may include any sequence or human or machine cognizable steps which perform a function. Such computer program and / or software may be rendered in any programming language or environment including, for example, C / C++, C#, Fortran, COBOL, MATLAB™, PASCAL, GO, RUST, SCALA, Python, assembly language, markup languages (e.g., HTML, SGML, XML, VoXML), and the like, as well as object-oriented environments such as the Common Object Request Broker Architecture (“CORBA”), JAVA™ (including J2ME, Java Beans, etc.), Binary Runtime Environment (e.g., “BREW”), and the like.

[0104] The input / output interface 320 may support input from and output to other devices that might couple to the computing device 310. This may, for example, include serial ports (e.g. RS-232 ports), universal serial bus (USB) ports, optical ports, Ethernet ports, telephone ports, audio jacks, component audio / video inputs, HDMI ports, and so forth, any of which might be used to form wired connections to other local devices. This may also include an infrared interface, RF interface, magnetic card reader, or other input / output system for wirelessly coupling in a communicating relationship with other local devices. It will be understood that, while the network interface 316 for network communications is described separately from the input / output interface 320 for local device communications, these two interfaces may be the same, or may share functionality, such as where a USB port 370 is used to attach to a Wi-Fi accessory, or where an Ethernet connection is used to couple to a local network attached storage. The input / output interface 320 may further output signals to displays of peripheral devices, as described herein.

[0105] As used herein, a user 330 is any human that interacts with the computer system 300. In this context, a user may be generally classed within one of two categories. One category is an administrator of the system, representing the seller and / or financial institution (issuer) organizing and conducting the offering of the photovoltaic window security. Another category is an investor who buys and sells shares in the photovoltaic window security. Another category is a consumer of the energy produced by the photovoltaic windows.ATTY. DOCKET NO. P25169WO00

[0106] In certain embodiments the I / O interface 320 facilitates communication with input and output devices for interacting with a user. For example, the I / O interface may communicate with one or more devices such as a user-input device and / or a display 350 which may be instantiated on the device described herein or on a separate device such as a mobile device 208, which enable a user to interact directly with the controller 312 via bus 332. The user-input device may comprise one or more push-buttons, graphical user interface (GUI), a touch screen, or other devices that allows a user to input information. In these embodiments, the computer system may further comprise a display to provide visual output to the user. The display may comprise any of a variety of visual displays, such as a viewable screen, a set of viewable symbols or numbers, and so on. One can appreciate that the inputs and outputs of the computer system would be different for administrators and investors. Accordingly, the computing device 310 may communicate administrators and investors with different interfaces 324 and 328. Consumers of the power generated by the photovoltaic windows may have yet another type of interface (not shown) that can be used for consumer-specific communication with the sytem.

[0107] A peripheral 322 may include any device used to provide information to or receive information from the computing device 310. This may include human input / output (I / O) devices such as a keyboard, a mouse, a mouse pad, a track ball, a joystick, a microphone, a foot pedal, a camera, a touch screen, a scanner, or other device that might be employed by the user 330 to provide input to the computing device 310. This may also or instead include a display, a printer, a projector, a headset or any other audiovisual device for presenting information to a user. The peripheral 322 may also or instead include a digital signal processing device, an actuator, or other device to support control of or communication with other devices or components. In one aspect, the peripheral 322 may serve as the network interface 1316, such as with a USB device configured to provide communications via short range (e.g., Bluetooth, Wi-Fi, Infrared, RF, or the like) or long range (e.g., cellular data or WiMax) communications protocols. In another aspect, the peripheral 322 may augment operation of the computing device 310 with additional functions or features, or other device. In another aspect, the peripheral 322 may include a storage device such as a flash card, USB drive, or other solid-state device, or an optical drive, a magnetic drive, a disk drive, or other device or combination of devices suitable for bulk storage. More generally, any device or combination of devices suitable for use with the computing device 310 may be used as a peripheral 322 as contemplated herein.ATTY. DOCKET NO. P25169WO00

[0108] Other hardware 326 may be incorporated into the computing device 310 such as a co-processor, a digital signal processing system, a math co-processor, a graphics engine, a video driver, a camera, a microphone, additional speakers, and so forth. The other hardware 326 may also or instead include expanded input / output ports, extra memory, additional drives, and so forth.

[0109] A bus 332 or combination of busses may serve as an electromechanical backbone for interconnecting components of the computing device 310 such as the controller 312, memory 314, network interface 316, other hardware 326, data store 318, and input / output interface. As shown in the figure, each of the components of the computing device 310 may be interconnected using a system bus 332 in a communicating relationship for sharing controls, commands, data, power, and so forth.

[0110] The computing device 310 is connected to a power source 360 to provide electrical power for the computing device to run.

[0111] The various illustrative logical blocks, modules and circuits described in connection with the present disclosure may be implemented or performed with one or more processors specially configured to perform the functions discussed in the present disclosure. The processor may be a neural network processor, a digital signal processor (DSP), an application specific integrated circuit (ASIC), a field programmable gate array signal (FPGA) or other programmable logic device (PLD), discrete gate or transistor logic, discrete hardware components or any combination thereof designed to perform the functions described herein. Alternatively, the processing system may comprise one or more neuromorphic processors for implementing the neuron models and models of neural systems described herein. The processor may be a microprocessor, controller, microcontroller, or state machine specially configured as described herein. A processor may also be implemented as a combination of computing devices, e.g., a combination of a DSP and a microprocessor, a plurality of microprocessors, one or more microprocessors in conjunction with a DSP core, or such other special configuration, as described herein. In the distributed networked system described herein, a pluraity of processors on a plurality of devices provide a plurality of nodes for the network.

[0112] The steps of a method or algorithm described in connection with the present disclosure may be embodied directly in hardware, in a software module executed by a processor, or in a combination of the two. A software module may reside in storage or machineATTY. DOCKET NO. P25169WO00 readable medium, including random access memory (RAM), read only memory (ROM), flash memory, erasable programmable read-only memory (EPROM), electrically erasable programmable read-only memory (EEPROM), registers, a hard disk, a removable disk, a CD- ROM or other optical disk storage, magnetic disk storage or other magnetic storage devices, or any other medium that can be used to carry or store desired program code in the form of instructions or data structures and that can be accessed by a computer. A software module may comprise a single instruction, or many instructions, and may be distributed over several different code segments, among different programs, and across multiple storage media. A storage medium may be coupled to a processor such that the processor can read information from, and write information to, the storage medium. In the alternative, the storage medium may be integral to the processor.

[0113] The methods disclosed herein comprise one or more steps or actions for achieving the described method. The method steps and / or actions may be interchanged with one another without departing from the scope of the claims. In other words, unless a specific order of steps or actions is specified, the order and / or use of specific steps and / or actions may be modified without departing from the scope of the claims.

[0114] The functions described may be implemented in hardware, software, firmware, or any combination thereof. If implemented in hardware, an example hardware configuration may comprise a processing system in a device. The processing system may be implemented with a bus architecture. The bus may include any number of interconnecting buses and bridges depending on the specific application of the processing system and the overall design constraints. The bus may link together various circuits including a processor, machine- readable media, and a bus interface. The bus interface may be used to connect a network adapter, among other things, to the processing system via the bus. The network adapter may be used to implement signal processing functions. For certain aspects, a user interface (e.g., keypad, display, mouse, joystick, etc.) may also be connected to the bus. The bus may also link various other circuits such as timing sources, peripherals, voltage regulators, power management circuits, and the like, which are well known in the art, and therefore, will not be described any further.

[0115] The processor may be responsible for managing the bus and processing, including the execution of software stored on the machine-readable media. Software shallATTY. DOCKET NO. P25169WO00 be construed to mean instructions, data, or any combination thereof, whether referred to as software, firmware, middleware, microcode, hardware description language, or otherwise.

[0116] In a hardware implementation, the machine-readable media may be part of the processing system separate from the processor. However, as those skilled in the art will readily appreciate, the machine-readable media, or any portion thereof, may be external to the processing system. By way of example, the machine-readable media may include a transmission line, a carrier wave modulated by data, and / or a computer product separate from the device, all which may be accessed by the processor through the bus interface. Alternatively, or in addition, the machine-readable media, or any portion thereof, may be integrated into the processor, such as with cache and / or specialized register files. Although the various components discussed may be described as having a specific location, such as a local component, they may also be configured in various ways, such as certain components being configured as part of a distributed computing system.

[0117] The machine-readable media may comprise a number of software modules. The software modules may include a transmission module and a receiving module. Each software module may reside in a single storage device or be distributed across multiple storage devices. By way of example, a software module may be loaded into RAM from a hard drive when a triggering event occurs. During execution of the software module, the processor may load some of the instructions into cache to increase access speed. One or more cache lines may then be loaded into a special purpose register file for execution by the processor. When referring to the functionality of a software module below, it will be understood that such functionality is implemented by the processor when executing instructions from that software module. Furthermore, it should be appreciated that aspects of the present disclosure result in improvements to the functioning of the processor, computer, machine, or other system implementing such aspects.

[0118] If implemented in software, the functions may be stored or transmitted over as one or more instructions or code on a computer-readable medium. Computer-readable media include both computer storage media and communication media including any storage medium that facilitates transfer of a computer program from one place to another.ATTY. DOCKET NO. P25169WO00

[0119] Further, it should be appreciated that modules and / or other appropriate means for performing the methods and techniques described herein can be downloaded and / or otherwise obtained by a user terminal and / or base station as applicable. For example, such a device can be coupled to a server to facilitate the transfer of computer applications for performing the methods described herein. Alternatively, various methods described herein can be provided via storage means, such that a user terminal and / or base station can obtain the various methods upon coupling or providing the storage means to the device. Moreover, any other suitable technique for providing the methods and techniques described herein to a device can be utilized.

[0120] The computer program controls input and operation of the device. The computer program includes at least one code segment stored in or on a computer-readable medium residing on or accessible by the device for instructing the computing elements, and any other related components to operate in the manner described herein. The computer program is preferably stored within the memory and comprises an ordered listing of executable instructions for implementing logical functions in the device. However, the computer program may comprise programs and methods for implementing functions in the device that are not an ordered listing, such as hard- wired electronic components, programmable logic such as field-programmable gate arrays (FPGAs), application specific integrated circuits, or other similar or conventional methods for controlling the operation of electrical or other computing devices.

[0121] Similarly, the computer program may be embodied in any computer-readable medium for use by or in connection with an instruction execution system, apparatus, or device, such as a computer-based system, processor-containing system, or other system that can fetch the instructions from the instruction execution system, apparatus, or device, and execute the instructions. The computer-readable medium may even be paper or another suitable medium upon which the program is printed, as the program can be electronically captured, via for instance, optical scanning of the paper or other medium, then compiled, interpreted, or otherwise processed in a suitable manner, if necessary, and then stored in a computer memory.

[0122] Figure 4 shows a process flow diagram 400 for defining and offering for sale photovoltaic window security according to an embodiment of the disclosed subject matter.

[0123] The process flow diagram 400 starts at block 402 wherein the computer system receives inputs from administrator(s) representing the supplier regarding a photovoltaic window system toATTY. DOCKET NO. P25169WO00 be offered as described herein. Inputs include a target amount of capital to be raised, information regarding the photovoltaic window systems’s current and potential valuation, etc.

[0124] The computer system determines a structure for the photovoltaic window security in block 404. The determination of the structure comprises conducting activities in blocks 221, 222 and 223 of Figure 2B. It is to be appreciated that defining the structure of the offering in block 404 may comprise several iterative interactions between the computer system and administrator(s) or seller(s) to define the final structure of the photovoltaic window security (arrow 405). It can be appreciated that some activities related to determining a structure for a photovoltaic window- backed security may be considered confidential, so these activities may be conducted in portions of the computer system that are not distributed or accessible to parties (for example, potential investors) that are not authorized to participate in defining the offering.

[0125] Once the final structure of the offering is determined, the computer system moves to executing the offering (block 251 of Figure 2B) by moving to block 406. Block 406 comprises offering the photovoltaic window security for sale to potential investors. In the distributed networked computer system described herein, block 406 may comprise recording an entry in a distributed ledger that defines the offering. In embodiments using a blockchain as a distributed ledger, this entails inserting a block defining the offering in a blockchain. Block 408 comprises receiving bids for shares from investors. Receiving bids may comprise recording the bid information in the distributed ledger, such as by adding a block in the blockchain. As discussed above, in some embodiments, a buyer may bid on shares of photovoltaic windows already offered for sale by the seller or may enquire about assets not currently offered for sale. In embodiments wherein an investor initiates an enquiry about photovoltaic window(s), the inquiry is directed by the system from the investor into block 402 of the process flow scheme (arrow 409) for analysis and response from the seller(s). It is to be appreciated that defining the structure of buyer-initiated intellectual properties in block 404 may comprise several iterative interactions among the computer system, investors and administrator(s) or seller(s) (arrows 405 and 409) to define the final structure of the photovoltaic window security. Buyer-initiated enquiries and responses from sellers are recorded in the distributed ledger or blockchain as discussed above.

[0126] In certain embodiments, the issuance of the security takes place when there is not yet party to the agreement, in which case ownership of the photovoltaic window right is vested in a subscription. Should the project fail to attract investors to completely fund the project, the rightATTY. DOCKET NO. P25169WO00 will return to the initial owner (the photovoltaic window supplier). In some embodiments the security product is not pooled together with other similar security products, but the photovoltaic window system is offered on a particular basis, so the investment is in a specific item, which is clearly identifiable.

[0127] Block 410 comprises accepting the bids from investors. Accepting the bids includes receiving payments from the investors and issuing shares to the investors at their bid price(s) and holding them in the computer system in the distributed ledger or blockchain. Accepting the bids may also include the system designing investor-initiated queries and submitting them for acceptance by the seller. As described above, acceptance of the bids by sellers may comprise generation of a smart contract that defines the final terms and conditions of the photovoltaic window security, including payouts and triggering events.

[0128] It can be appreciated that once a first investor purchases a photovoltaic window-backed security, the first inventor may choose to attempt to sell the PWBS he holds to a second investor. In that instance, the first investor may interact with the computer system as a seller and offer his share(s) for sale at block 406. A second investor can purchase such share(s) using steps 408 and 1410. Thus, the process 400 enables a distributed networked computer system described herein to serve as a marketplace for issuing, trading and administering photovoltaic window-backed securities.

[0129] The system tracks the sales of photovoltaic window securities in block 412, including the total number of securities sold, the prices offered in bids and accepted by the computer system and the holders of the securities using a distributed ledger such as a blockchain. The computer system also tracks revenues associated with the photovoltaic windows and determines whether targets defined in the photovoltaic window security have been met in block 414. In embodiments, a payout triggering event may comprise a first threshold that occurs when monetization of the photovoltaic window exceeds expenses associated with manufacturing and installing the photovoltaic window. Other triggering events may occur when monetization exceeds a specified percentage over the expenses, or when revenues exceed a specified amount. Notably, each triggering event can determine a different payout regime.

[0130] If the computer system determines that the target(s) are reached in block 414, the computer system moves to block 418 and disperses payments to investors based on the terms of the securities defined in the smart contract.ATTY. DOCKET NO. P25169WO00

[0131] The system and methods described herein may be used for private offerings, initial public offerings or combinations thereof. For example, photovoltaic window securities may be offered to a limited number of private venture capital entities. It is to be appreciated that the terms and conditions of the photovoltaic window-backed security are defined in a smart contract, so different smart contracts can be negotiated by different investors. For example, in a private offering each private venture capital entity may be able to negotiate terms and conditions separately from other private venture capital entities. In other examples, investors such as preferred investors, angel investors, accredited investors or venture capital investors willing and able to invest larger sums may obtain better terms than smaller investors. For example, such investors may be able to negotiate with the seller to define terms and conditions for a smart contract, while smaller investors may be limited to purchasing a security where the terms and conditions for a payout are non-negotiable. Larger investors may receive payouts starting at a first threshold that occurs when monetization of the photovoltaic window exceeds expenses associated with installing the photovoltaic window, while smaller investors may not receive payouts after the first threshold and must wait for a payout at a different, higher threshold. In other words, only some of the smart contracts are executed to distribute a payout when the first threshold triggering event is met.

[0132] A PWBS is an example of an embodiment of a pass-through system for securitization of photovoltaic window rights comprising rights to a portion of a revenue stream associated with the photovoltaic windows. These rights are consolidated in the structuring of the rights securitization to create a pass-through PWBS negotiable on a stock exchange such as the NASDAQ. Investors become the holders of the pass-through security.

[0133] In certain embodiments the pass-through system is configured for direct ownership by multiple investors. Use of the pass-through system may establish a marketplace for photovoltaic window securities and provide for brokerage on the public of private market and thus facilitate the raising of capital for installation of photovoltaic windows.

[0134] Therefore, the system and method provided herein may facilitate greater adoption of photovoltaic windows by enabling the value of a photovoltaic window system to be converted into a form of greater liquidity that enables faster, more transparent investment. Individuals may be able to invest in photovoltaic windows using a PWBS to take advantage of solar energy tax credits even if they cannot invest in photovoltaic windows directly in their residences.ATTY. DOCKET NO. P25169WO00

[0135] FIGS. 5A and 5B are schematic diagrams illustrating example embodiments of a system comprising nodes and users that may be involved in a smart system for securitizing photovoltaic windows utilizing one or more smart contracts on a distributed ledger technology platform. A node is a connection point in a communications network and allow users to interact with the network. Each node is an endpoint for data transmissions or redistribution. Nodes have either a programmed or engineered capability to recognize, process and forward transmissions to other network nodes As illustrated in FIG. 5A, in some embodiments, a smart photovoltaic window-backed security (PWBS) platform 500 can comprise one or more registered agent (RA) or dealer nodes 502, one or more investor nodes 504, one or more PW supplier (seller) nodes 506, one or more consumer nodes 520, and / or a central authority node 508, which can be in communication with one another through a network 510. The central authority node 508 is held by the issuer of the PWBS, such as a photovoltaic window Security Company. In some embodiments, one or more of the RA node(s) 502, investor node(s) 504, supplier node(s) 506, consumer nodes 520, and central authority node 508, such as node controlled by the issuer IPSC, can comprise a DLT platform 512 on which the smart PWBS platform, one or more smart contracts and smart contract outputs thereof, and / or one or more private data sharing channels may be implemented. In some embodiments, the DLT platform 512 can be configured to facilitate the filing, tracking, management, communications, notifications, or the like of the smart platform as described herein. In some embodiments, the power consumers may interact indirectly with the DLT via a service provider 540 (see Fig.5B) that manages payments between the power consumer and the energy supplier to ensure that revenue derived from energy sales from the consumer to the energy grid or other payments to consumers are accounted for in the DLT and dispersed to investors according to the PWBS agreements.

[0136] In some embodiments, the system 500 may also include systems external to the DLT as described below regarding Fig.5B.

[0137] As illustrated in FIG. 5B, in some embodiments of a smart photovoltaic window- backed security (PWBS) platform 505, one or more investor systems 514 may not comprise a DLT platform node. Rather, the one or more investor systems 514 can be configured to communicate with one or more RA nodes 502 comprising the DLT platform 512 through a separate network 516, for example through an application programming interface (“API”). As such, in some embodiments, one or more investor systems 514 may not be on the DLT itself. For example, smallATTY. DOCKET NO. P25169WO00 investors may be able to purchase securities from a registered agent or dealer in the distributed network, who is authorized to negotiate terms and conditions of the smart contracts on behalf of small investors. The RA may negotiate the terms and conditions prior to or after engaging with investors not on the DLT itself. Further, in some embodiments, central authority node 508 can be configured to maintain a separate external system 518. In some embodiments, the separate external system 518 can be in communication with the central authority node 508 through a separate network connection 530, such as an API, for example for purposes of maintaining legally valid versions of the PWBS filings. In some embodiments, the smart filings on the DLT itself can be the legally valid and canonical version of the filings. In embodiments, the external system may also include modules for managing the securitization that are desirably kept separate from the distributed ledger. For example, owner confidential information and pre-issuance activities such as valuation of and administering securities (e.g. blocks 220 and 250 of Figures 2A and 2B and blocks 402 and 404 of Figure 4) may be held in the separate external system. In other embodiments, the smart photovoltaic window-backed security (PWBS) platform may comprise a combination of investors 504 with nodes on the distributed ledger and investors 514 without nodes on the distributed ledger.

[0138] In various embodiments the specific system of securitization enables trades to take place on the NASDAQ or other exchange. Therefore, a holder may exit at the stage of brokerage through a public or private offering. The system and method presented herein provide a vehicle for individuals to invest and for an individual issuer or a collective issuer to raise capital originating from multiple investors.

[0139] Although described herein primarily as directed to photovoltaic windows, a PWBS may also comprise revenue from traditional opaque photovoltaic panels in combination with the photovoltaic windows. Embodiments

[0140] Provided is a security for monetizing or securitizing photovoltaic windows, wherein the security comprises a pass-through security that pays a portion of a revenue stream, such as a payment based on energy produced by the photovoltaic windows, to the holder of the security as the revenue is received by the issuer of the security.

[0141] Provided is a photovoltaic window-backed security (PWBS) comprising investment shares backed by a plurality of photovoltaic windows providing a defined payout to investors basedATTY. DOCKET NO. P25169WO00 on the revenue stream associated with the photovoltaic windows and systems and methods for managing the PWBS.

[0142] One aspect provides a distributed networked computer system for managing securitization of photovoltaic windows, the distributed network computer system comprising: a non-transitory computer readable storage medium having program instructions embodied therewith; and one or more processors configured to execute the program instructions to cause the computing system to receive, from a first networked node, a first bid for one or more shares of a photovoltaic window backed security (“PWBS”) from a first investor; determine, by a central processor, a fractional share of the PWBS to allocate to the first investor based on the first bid; allocate, by one or more processors, the fractional share of the PWBS to the first user; a distributed ledger for recording bids for the PWBS and respective allocated shares determined by the central processor, wherein the distributed ledger is accessible by the first networked node; and a smart contract accessible to the first networked node, wherein the smart contract comprises a revenue stream payout triggering event; and a plurality of predetermined electronic actions for generating a smart contract output when the revenue stream payout triggering event is met, wherein the smart contract generates a revenue stream payout to the first investor automatically when the payout event is triggered, and further wherein the execution of the smart contract is recorded to the distributed ledger.

[0143] Embodiments of the system include the following, alone or in any combination.

[0144] The smart contract is between the first investor and an issuer of the photovoltaic window backed security.

[0145] The payout triggering event is based on revenue associated with monetization of the photovoltaic window(s), such as revenue associated with tax credits, government incentives or energy purchase or rebates based on the amount of energy produced by the photovoltaic window(s).

[0146] The system may further comprise one or more processors configured to execute the program instructions to cause the computing system to receive, from a plurality of networked nodes, a plurality of bids for one or more shares of a photovoltaic window backed security (“PWBS”) from a plurality of investors, determine, by the central processor, a fractional share of the PWBS to allocate to each of the plurality of investors based on the respective bids associated with each investor; and allocate, by one or more processors, the fractional shares of the PWBS toATTY. DOCKET NO. P25169WO00 each of the plurality of investors. In the system, a plurality of smart contracts are accessible to the plurality of networked nodes, wherein each of the plurality of smart contracts comprises a revenue stream payout triggering event; and a plurality of predetermined electronic actions for generating a smart contract output when the revenue stream payout triggering event is met, wherein the smart contract generates a revenue stream payout to at least some of the plurality of investors automatically when the revenue stream payout event is triggered and further wherein each execution of each of the smart contracts is recorded to the distributed ledger.

[0147] The payout may be a portion of a revenue associated with the production of energy by one or a plurality of photovoltaic windows.

[0148] The payout triggering event may comprise a threshold that occurs when monetization of the photovoltaic window exceeds expenses associated with installing the photovoltaic window. The payout triggering event may comprise a threshold that occurs when a tax incentive is received by an investor in the PWBA. The payout triggering event may comprise a periodic payout based on revenue from energy produced by the photovoltaic window.

[0149] In some instances, only some of the smart contracts are executed to distribute a payout when a threshold triggering event is met, based on the terms of each smart contract.

[0150] Amother aspect provides a non-transitory computer readable storage medium comprising a plurality of computer readable instructions embodied thereon wherein the instructions, when executed by a distributed networked computer system for managing securitization of photovoltaic windows, cause the distributed networked computer system to receive, from a first networked node, a first bid for one or more shares of a photovoltaic window backed security (“PWBS”) from a first investor; determine, by a central processor, a fractional share of the PWBS to allocate to the first investor based on the first bid; allocate, by one or more processors, the fractional share of the PWBS to the first user; record in a distributed ledger accessible by the first networked node, bids for the PWBS; respective allocated shares determined by the central processor; and execution of a smart contract accessible to the first networked node, wherein the smart contract comprises a revenue stream payout triggering event; and a plurality of predetermined electronic actions for generating a smart contract output when the revenue stream payout triggering event is met, wherein the smart contract generates a revenue stream payout to the first investor by automatically when the payout event is triggered.ATTY. DOCKET NO. P25169WO00

[0151] Embodiments of the non-transitory computer readable storage medium include the following, alone or in any combination.

[0152] The smart contract is between the first investor and an issuer of the photovoltaic window backed security.

[0153] The payout triggering event may be based on revenue associated with monetization of the photovoltaic window(s), such as revenue associated with tax credits, government incentives or energy purchase or rebates based in the amount of energy produced by the photovoltaic window(s).

[0154] The instructions further cause the distributed networked computer system to receive, from a plurality of networked nodes, a plurality of bids for one or more shares of a photovoltaic window backed security (“PWBS”) from a plurality of investors, determine, by the central processor, a fractional share of the PWBS to allocate to each of the plurality of investors based on the respective bids associated with each investor; and allocate, by one or more processors, the fractional shares of the PWBS to each of the plurality of investors. The instructions may further cause the distributed networked computer system to record to the distributed ledger a plurality of smart contracts accessible to the plurality of networked nodes, wherein each of the plurality of smart contracts comprises a revenue stream payout triggering event; and a plurality of predetermined electronic actions for generating a smart contract output when the revenue stream payout triggering event is met, wherein the smart contract generates a revenue stream payout to at least some of the plurality of investors automatically when the revenue stream payout event is triggered and further wherein each execution of each of the smart contracts is recorded to the distributed ledger.

[0155] The payout triggering event may comprise a threshold that occurs when monetization of the photovoltaic window exceeds expenses associated with installing the photovoltaic window. The payout triggering event may comprise a threshold that occurs when a tax incentive is received by an investor in the PWBA. The payout triggering event may comprise a periodic payout based on revenue from energy produced by the photovoltaic window.

[0156] In some instances, only some of the smart contracts are executed to distribute a payout when a threshold triggering event is met, based on the terms of each smart contract.

[0157] Another aspect is a method for managing securitization of photovoltaic windows by a distributed networked computer system, the method comprising receiving, from a first networked node, a first bid for one or more shares of a photovoltaic window backed security (“PWBS”) fromATTY. DOCKET NO. P25169WO00 a first investor; determining, by a central processor, a fractional share of the PWBS to allocate to the first investor based on the first bid; allocating, by one or more processors, the fractional share of the PWBS to the first user; recording in a distributed ledger, wherein the distributed ledger is accessible by the first networked node, bids for the PWBS; respective allocated shares determined by the central processor; and execution of a smart contract accessible to the first networked node, wherein the smart contract comprises a revenue stream payout triggering event; and a plurality of predetermined electronic actions for generating a smart contract output when the revenue stream payout triggering event is met, wherein the smart contract generates a revenue stream payout to the first investor by automatically when the payout event is triggered.

[0158] Embodiments of the non-transitory computer readable storage medium include the following, alone or in any combination.

[0159] The method may further comprise the distributed networked computer system receiving, from a plurality of networked nodes, a plurality of bids for one or more shares of a photovoltaic window backed security (“PWBS”) from a plurality of investors, determining, by the central processor, a fractional share of the PWBS to allocate to each of the plurality of investors based on the respective bids associated with each investor; and allocating, by one or more processors, the fractional shares of the PWBS to each of the plurality of investors. The method may further comprise the distributed networked computer system recording to the distributed ledger a plurality of smart contracts accessible to the plurality of networked nodes, wherein each of the plurality of smart contracts comprises a revenue stream payout triggering event; and a plurality of predetermined electronic actions for generating a smart contract output when the revenue stream payout triggering event is met, wherein the smart contract generates a revenue stream payout to at least some of the plurality of investors automatically when the revenue stream payout event is triggered and further wherein each execution of each of the smart contracts is recorded to the distributed ledger.

[0160] The smart contract is between the first investor and an issuer of the photovoltaic window backed security.

[0161] The payout may be based on revenue associated with monetization of the photovoltaic window(s), such as revenue associated with tax credits, government incentives or energy purchase or rebates based in the amount of energy produced by the photovoltaic window(s).ATTY. DOCKET NO. P25169WO00

[0162] The payout triggering event may comprise a threshold that occurs when monetization of the photovoltaic window exceeds expenses associated with installing the photovoltaic window. The payout triggering event may comprise a threshold that occurs when a tax incentive is received by an investor in the PWBS. The payout triggering event may comprise a periodic payout based on revenue from energy produced by the photovoltaic window.

[0163] In some instances, only some of the smart contracts are executed to distribute a payout when a threshold triggering event is met, based on the terms of each smart contract.

[0164] The method may further comprise receiving, from a plurality of networked nodes, a plurality of bids for one or more shares of a photovoltaic window backed security (“PWBS”) from a plurality of investors; determining, by the central processor, a fractional share of the PWBS to allocate to each of the plurality of investors based on the respective bids associated with each investor; and allocating, by one or more processors, the fractional shares of the PWBS to each of the plurality of investors. The method may further comprise recording to the distributed ledger a plurality of smart contracts accessible to the plurality of networked nodes, wherein each of the plurality of smart contracts comprises a revenue stream payout triggering event; and a plurality of predetermined electronic actions for generating a smart contract output when the revenue stream payout triggering event is met, wherein the smart contract generates a revenue stream payout to at least some of the plurality of investors automatically when the revenue stream payout event is triggered and further wherein each execution of each of the smart contracts is recorded to the distributed ledger.

[0165] The payout may be a portion of a revenue stream associated with the photovoltaic window.

[0166] The payout triggering event may comprise a threshold that occurs when monetization of the photovoltaic window exceeds expenses associated with installing the photovoltaic window. The payout triggering event may comprise a threshold that occurs when a tax incentive is received by an investor in the PWBA. The payout triggering event may comprise a periodic payout based on revenue from energy produced by the photovoltaic window.

[0167] In some instances, only some of the smart contracts are executed to distribute a payout when a threshold triggering event is met, based on the terms of each smart contract.

[0168] The present invention may be embodied in other specific forms without departing from its spirit or essential characteristics. The described embodiments are to be considered in all respectsATTY. DOCKET NO. P25169WO00 only as illustrative and not restrictive. The scope of the invention is, therefore, indicated by the appended claims rather than by the foregoing description. All changes that come within the meaning and range of equivalency of the claims are to be embraced within their scope.

Claims

ATTY. DOCKET NO. P25169WO00 CLAIMS What is claimed is:

1. A security for monetizing or securitizing photovoltaic windows, wherein the security comprises a pass-through security that pays a portion of a revenue stream based on energy produced by the photovoltaic windows, to the holder of the security as the revenue stream is received by the issuer of the security.

2. The security of claim 1 wherein the revenue stream comprises tax credits, government incentives or energy purchase or rebates based on the amount of energy produced by the photovoltaic windows.

3. The security of claim 1 comprising an investment share backed by a plurality of photovoltaic windows providing a defined payout to an owner of the investment share based on a revenue stream associated with energy produced by the photovoltaic windows.

4. The security of claim 3 wherein the defined payout comprises a payout triggering event comprising a threshold that occurs when the revenue stream exceeds total expenses associated with production of the photovoltaic windows and installation of them on a structure.

5. A distributed networked computer system for managing securitization of revenue based on energy produced by a plurality of photovoltaic windows, the distributed networked computer system comprising: a distributed ledger for smart contract execution across multiple networked nodes, one or more processors; and one or more memories operatively coupled to at least one of the one or more processors and having instructions stored thereon that, when executed by at least one of the one or more processors, cause at least one of the one or more processors to: determine for an issuer of a photovoltaic backed security (“PWBS”) a structure for an offering for the PWBS, wherein the PWBS is backed by a plurality of photovoltaic windows and the structure is based on variables related to the plurality of photovoltaic windows, target capital to be raised, valuation of the energy producible by the photovoltaic windows and risk analysis of the variables, ranges of acceptable values for each variable, and terms and conditions to be included in the offering; transmit a message comprising the offering of the PWBS to a plurality of networked nodes associated with one or more subscribers of the distributed networked computer system;ATTY. DOCKET NO. P25169WO00 receive one or more bids for one or more shares of the PWBS from one or more of the plurality of networked nodes associated with one or more investors among the subscribers; determine fractional amounts of the shares of the PWBS to allocate to each of the one or more investors based on the one or more bids; detect acceptance, by the issuer, of the bids from the one or more investors; generate a set of one or more terms and conditions between the one or more investors and the issuer based at least in part on the bids and allocated shares; transmit a transaction comprising compiled code corresponding to a smart contract to a special receiver address on the distributed ledger, the smart contract comprising immutable self- executing code configured to be accessible to the one or more networked nodes associated with the one or more investors and the issuer, wherein the smart contract is configured to execute manage payments in response to the one or more terms and conditions; and determine that the target capital is raised and close availability of shares in the PWBS.

6. The distributed networked computer system of claim 5 wherein variables related to the plurality of photovoltaic windows include the number and size of the photovoltaic windows, the geographic location and orientation of the structure where the photovoltaic windows are installed, the amount of shading on the photovoltaic windows and the variables are used to determine a power generation module.

7. The distributed networked computer system of claim 5 wherein payments include bid amounts plus transaction fees from the one or more investors to the issuer, payments from the revenue streams associated with the photovoltaic windows to the issuer, or payments to the one or more investors based on the terms and conditions of the photovoltaic window securities.

8. The distributed networked computer system of claim 5 wherein the revenue stream comprises tax credits, government incentives or energy purchase or rebates based on the amount of energy produced by the photovoltaic windows.

9. The distributed networked computer system of claim 5 wherein the smart contract comprises a defined payout to an owner of a share of the PWBS based on a revenue stream associated with energy produced by the photovoltaic windows.

10. The distributed networked computer system of claim 9 wherein the defined payout comprises a payout triggering event comprising a threshold that occurs when the revenue streamATTY. DOCKET NO. P25169WO00 exceeds total expenses associated with production of the photovoltaic windows and installation of them on a structure.

11. At least one non-transitory computer-readable medium storing computer-readable instructions that, when executed by one or more computing devices, cause at least one of the one or more computing devices to: determine for an issuer of a photovoltaic backed security (“PWBS”) a structure for an offering for the PWBS, wherein the PWBS is backed by a plurality of photovoltaic windows and the structure is based on variables related to the plurality of photovoltaic windows. target capital to be raised, valuation of the energy producible by the photovoltaic windows and risk analysis of the variables, ranges of acceptable values for each variable, and terms and conditions to be included in the offering; transmit a message comprising the offering of the PWBS to a plurality of networked nodes associated with one or more subscribers of the distributed networked computer system; receive one or more bids for one or more shares of the PWBS from one or more of the plurality of networked nodes associated with one or more investors among the subscribers; determine fractional amounts of the shares of the PWBS to allocate to each of the one or more investors based on the one or more bids; detect acceptance, by the issuer, of the bids from the one or more investors; generate a set of one or more terms and conditions between the one or more investors and the issuer based at least in part on the bids and allocated shares; transmit a transaction comprising compiled code corresponding to a smart contract to a special receiver address on the distributed ledger, the smart contract comprising immutable self- executing code configured to be accessible to the one or more networked nodes associated with the one or more investors and the issuer, wherein the smart contract is configured to execute manage payments in response to the one or more terms and conditions; and determine that the target capital is raised and close availability of shares in the PWBS.

12. The at least one non-transitory computer-readable medium of claim 11 wherein payments include bid amounts plus transaction fees from the one or more investors to the issuer, payments from the revenue streams associated with the photovoltaic windows to the issuer, or payments to the one or more investors based on the terms and conditions of the photovoltaic window securities.ATTY. DOCKET NO. P25169WO00 13. The at least one non-transitory computer-readable medium of claim 11 wherein the revenue stream comprises tax credits, government incentives or energy purchase or rebates based on the amount of energy produced by the photovoltaic windows.

14. The at least one non-transitory computer-readable medium of claim 11 wherein the smart contract comprises a defined payout to an owner of a share of the PWBS based on a revenue stream associated with energy produced by the photovoltaic windows.

15. The at least one non-transitory computer-readable medium of claim 14 wherein the defined payout comprises a payout triggering event comprising a threshold that occurs when the revenue stream exceeds total expenses associated with production of the photovoltaic windows and installation of them on a structure.

16. A method executed by one or more computing devices for smart contract execution across multiple networked nodes on a distributed ledger, the method comprising: determining for an issuer of a photovoltaic backed security (“PWBS”) a structure for an offering for the PWBS, wherein the PWBS is backed by a plurality of photovoltaic windows and the structure is based on variables related to the plurality of photovoltaic windows. target capital to be raised, valuation of the energy producible by the photovoltaic windows and risk analysis of the variables, ranges of acceptable values for each variable, and terms and conditions to be included in the offering; transmitting a message comprising the offering of the PWBS to a plurality of networked nodes associated with one or more subscribers of the distributed networked computer system; receiving one or more bids for one or more shares of the PWBS from one or more of the plurality of networked nodes associated with one or more investors among the subscribers; determining fractional amounts of the shares of the PWBS to allocate to each of the one or more investors based on the one or more bids; detecting acceptance, by the issuer, of the bids from the one or more investors; generating a set of one or more terms and conditions between the one or more investors and the issuer based at least in part on the bids and allocated shares; transmitting a transaction comprising compiled code corresponding to a smart contract to a special receiver address on the distributed ledger, the smart contract comprising immutable self- executing code configured to be accessible to the one or more networked nodes associated withATTY. DOCKET NO. P25169WO00 the one or more investors and the issuer, wherein the smart contract is configured to execute manage payments in response to the one or more terms and conditions; and determining that the target capital is raised and close availability of shares in the PWBS.

17. The method of claim 16 wherein payments include bid amounts plus transaction fees from the one or more investors to the issuer, payments from the revenue streams associated with the photovoltaic windows to the issuer, or payments to the one or more investors based on the terms and conditions of the photovoltaic window securities.

18. The method of claim 16 wherein the revenue stream comprises tax credits, government incentives or energy purchase or rebates based on the amount of energy produced by the photovoltaic windows.

19. The method of claim 16 wherein the smart contract comprises a defined payout to an owner of a share of the PWBS based on a revenue stream associated with energy produced by the photovoltaic windows.

20. The method of claim 19 wherein the defined payout comprises a payout triggering event comprising a threshold that occurs when the revenue stream exceeds total expenses associated with production of the photovoltaic windows and installation of them on a structure.

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