I thought I would post the description portion of my submition to the WTN X Prize:

Money is currently based on a fiat standard. It's possible to use energy as a
monetary standard. Using an energy standard would work the same way that all
past monetary standards would. People would be giving energy to producers in
return for a product that they invested energy in to produce. Producers can
still make a profit by charging more which isn't much different than now.

An energy standard also has some benefits that current money lacks. Three
benefits would be that people could setup solar panels, wind generators, etc.
and create energy. Literally making money with the new standard. Another
benefit would be inherint deflation, which would be a good thing. It would be a
sign of how efficient a producer produces a good. The deflation index would be
a measurement of how efficient everything is produced. A third benefit would be
that money is directly tied to reality. Money would actually mean something.

Work needs to be done to even consider the standard. Better means of storing
and using energy, such as fuel cells, must be widespread. The entire supply
chain for every good must have its energy consumption measured so prices can be
calculated. And a banking system must be in place so people can store their
accumulated energy some place instead of carrying around hydrogen or whatever
around.

In sum a monetary standard based on energy would be universal. Energy is used
and can be created anywhere in the Universe. It would become a single currency
for the entire planet that's not subject to manipulation and everyone could
create.