Renewable Energy Credits
Renewable Energy Credits – A major NFT lawsuit seeks to determine how creators, owners, and investors can protect their intellectual property and promote the property.
Part V: RECs seem like the perfect solution for combining renewable energy and the ‘green’ movement, but how can we make the most of them?
Renewable Energy Credits
From the first watermill to the first use of blockchain, this chain has seen that the supply and demand of electricity are not always connected as we would like.
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We looked at different strategies to deal with it. For example, pumping stations can store energy during peak periods and release energy, or most of it, later during peak periods.
However, there is another way to achieve change in supply and demand, in a tangible way.
Although its use may be controversial, it shows how renewable energy is incorporated into old distribution systems by capturing certain elements of nature.
Let’s imagine that there is a coal-fired power plant in the West. This manufacturer trades under the Green Granola brand and favors a reasonably healthy green profile.
Renewable Energy Alternatives
The other day, Green Granola West announced that it will use renewable energy to make its granola.
The easiest way to do this is with REC. Because the company prides itself on being “progressive”, it stays ahead of national legislation and uses voluntary RECs rather than compliance purposes.
At the same time, in the east, a business developer realizes that they can produce green electricity from poultry farms and sell it to RAC, bringing more money to the east.
This revenue will help fund the cost of the solar farm, so the plan has a strong business case.
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With the construction of a solar farm, Mpumalanga produces solar electricity through REC. It then “unbundles” the certificates and sells the power to Acme and REC separately for a fee to West.
The planet now saves several kilograms of CO2 every day. Eventually, the coal plant in the east will be phased out as it is no longer needed.
Every time Green Granola uses a kilowatt-hour of electricity, it “revokes” the certificate so it can no longer be used. In this situation, everyone is happy. The Greens can claim to have reduced global warming and have one less coal-fired power plant.
Best of all, Green Granola can continue to use a simple energy source in the form of a local coal-fired power station. It does not need to build, install or buy any new solar farms, wind farms or batteries to comply with it.
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Next year, Acme decides to install 24/7 lighting for their chickens, so they bring a “dirty” diesel generator for nighttime elevation, because the sun will not cut.
Now the carbon footprint is exactly the same as at the beginning of the project, and from a planetary perspective we are back to the beginning.
While it is true that the RAC has encouraged the construction of solar farms in the east, it is also true that very little market signal has been delivered.
“I’ve built solar or wind that will reduce the need for a fossil fuel base somewhere, sometime.”
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RECs, while doing something, don’t seem to do as well as most people would like.
They require change and evolution, and this is a topic of great debate in the renewable energy business.
To understand RECs, it helps to know that they are never designed to be sold. Their commercial potential became apparent soon after launch. If it seems impossible, it’s because they were never designed to do what we’re asking them to do now.
Ben Gerber is the CEO of MRETS, the REC registry in North America. He explains the need for change: “When we trade with them, we basically use a knife to eat soup. If you want to eat soup, you make a spoon, so the question is, how can we make a better tool, that is, energy decarbonization?
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Gerber’s RECs are now trying to answer that question. Its registry, MRETS, is the first to contain RECs associated with a specific time of day and location.
According to David Shipworth, Professor of Energy and the Built Environment at University College London, the essence of this approach is clear: “What we are talking about here is to successfully restore RAC certification to the original design of the building. ,” said Professor Shipworth.
“Personally, I think they should be connected to this type of place so that no one can take them out and sell them separately.” But it needs to sit with other mechanisms, such as power purchase agreements, and these will provide the necessary market signals.
To a limited extent, this occurs in conjunction with RECs (unlike voluntary RECs, which are usually conducted within the same three-month period).
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But even that doesn’t solve the problem of sending misleading market signals. Finally, it can be part of a network that is not in high demand, or at the wrong time of day.
Google was one of the first companies to identify this problem and is now clarifying the temporal and spatial details of the clean electricity (and associated RECs) it purchases.
According to Michael Terrill, the head of energy strategy at Google, Google is now making a big effort to change the load profile for cleaner energy.
“We want to create a link between generation and consumption of kilowatt hours where possible. In addition, we also monitor demand response. Now we will reschedule most of the calculation work if possible.”
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So we’re going to do big, time-sensitive, energy-intensive computing jobs, and do them during the hours of the day when carbon-free energy is most common.
Obviously, it should distinguish where time- and place-specific RECs are more important than non-specific RECs.
They are highly desirable and rare. The smaller and more specific the unit of space and the smaller and more specific the unit of time, the rarer and more demanding the REC. Give as an equation:
Suppose the West now makes a new demand for a particular REC defined by both time and space.
Renewable Energy Credits (recs)
Mpumalanga is now desperate for revenue streams from this high value REC. But to qualify, he must meet the strict requirements of the time and place of the West.
To meet these time and space requirements, it is investing in a submarine cable to tap into the local hail network.
It also invests in battery capacity and air to manage its performance to meet the specifications of the time.
Local and time-accurate REC specifications have many energy resources delivered from the East, albeit at very high investment costs. The most advanced type of REC certification has included the entire production system to be 100% natural.
What Are Renewable Energy Certificates (recs)?
And since 100% of the West’s energy needs are now met by the East, coal-fired power plants in the West can be phased out.
If RECs are transparent and only companies outside of Google want them, it’s easy to see how they could lead us to a more sustainable form of energy production.
Whether the market price of REC can bear the investment cost of installing large batteries is another matter.
I’ll explore how the complex mix of existing markets can come together to form a sustainable network, and how big tech companies are buying their power in the future. I-RECs are an easy way to reduce your company’s carbon footprint. Based on your usage without entering into a long-term contract.
Introduction To Renewable Energy Certificates (recs)
Renewable energy certificates, also known as I-RECs, are international certificates certifying the production of energy from renewable sources.
The I-REC service is a global environmental responsibility tracking system designed to facilitate reliable carbon accounting for companies in accordance with various international carbon accounting standards.
Each I-REC is equivalent to 1 MW of energy and can reduce carbon emissions in scope 2 of the Greenhouse Gas Protocol.
The “RAC Brazil” renewable energy certification program is an initiative that aims to promote the market of energy produced from renewable sources and high performance in terms of sustainability.
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The purpose of this program is to show the impact of participating generators according to the UN Sustainable Development Goals (SDG). The certification process then serves as proof that the generator supports at least five of the seventeen UN Sustainable Development Goals.
Any company from any industry can earn I-RECs to reduce their energy consumption. At Atlas, we provide I-REC certificates every year to all companies operating in Brazil, and we provide REC Brazil as an added value that guarantees the renewable energy produced by our projects.
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