Renewable Energy Certificates (RECs), also known as Green tags, Renewable Energy Credits, Renewable Electricity Certificates, or Tradable Renewable Certificates (TRCs), are tradable, non-tangible energy commodities in the United States that represent proof that 1 megawatt-hour (MWh) of electricity was generated from an eligible renewable energy resource (renewable electricity) and was fed into the shared system of power lines which transport energy. Solar renewable energy certificates (SRECs) are RECs that are specifically generated by solar energy. Renewable Energy Certificates provide a mechanism for the purchase of renewable energy that is added to and pulled from the electrical grid.
And with major corporations setting ambitious environmental targets, a surge in demand for renewable energy certificates is anticipated as we move into 2018 and beyond, according to many of the industries big players.
The RED Platform - from Restart Energy Democracy
The RED platform is a blockchain-based ecosystem for tokenising energy. Designed to facilitate the conducting of peer-to-peer energy transactions (letting people buy and sell energy to each other without a middle man), secured by the power of the blockchain (the same technology at the heart of Bitcoin). And while the issuing of green certificates is far from the entirety of what the RED platform intends to offer, it is in its own way an important part of the system, and one with a clear and growing demand.
RED Platform Will Award Green Certificates to Consumers for Using Renewable Energy
'Restart Energy is developing a new standard of cryptographic green certificates on Blockchain, that will be awarded to consumers of renewable energy. These green certificates will store information about the source of energy, the producer, the consumer/user and the owner — all this information will be publicly available. Restart Energy believes that creating a transparent and accountable standard of cryptographic green certificates that can be traded on a secondary market, will help to incentivize consumers to use renewable energy, and ultimately increase revenues for producers as well.'
Consumers holding RED MWAT tokens will automatically receive 1 Cryptographic Green Certificate for each MWh consumed from renewable sources.
Green certificates can be viewed as an additional source of income for users, that incentivizes the purchase of green energy on the RED Platform. By deploying these green certificates into the RED Ecosystem, Restart Energy is increasing the added value and margin gains for renewable energy producers that access the RED Platform.
Intel Corp. purchased over 4 billion kWh of green power in 2016, compared with an estimated overall energy consumption of around 6.5 billion kWh/year. And stemming from the Paris Pledge for Action 2015, recent initiatives including RE100, WeMeanBusiness and Science Based Targets are working with leading corporations to set sustainability targets, such as a commitment to source 100 percent of electricity demand from renewable sources as quickly as possible. With green energy certificates/credits playing an important part in achieving these targets, accounting for 54-59 percent of voluntary demand for green power procurement, at time of posting...
Want to learn more about the RED Platform from Restart Energy Democracy, Visit the website: HERE
Want to invest in the RED Platform and purchase MWAT tokens, purchase them via Kucoin Exchange: HERE