Article

The Value of RECs on Blockchain

Posted November 29, 2021 | Leadership | Technology | Amplify
blockchainenergy
A Renewal Energy Certificate (REC) is another mech­anism for offsetting carbon emissions. As explained by Claudio Lima, RECs are issued to accredited generators of renewable energy. These credits can then be traded in energy markets where consumers looking to offset their own fossil fuel energy consumption can buy the credits. Since a REC is essentially a record of a quasi-observable event (i.e., renewable energy fed into the grid), this data is susceptible to manipulation and transaction errors. Similar to carbon markets, or any market for that matter, lack of credibility can under­­mine the effectiveness of the market. Lima explains how blockchain can be used to ensure the authenticity of RECs and improve their market credibility.
About The Author
Claudio Lima
Cutter Expert Claudio Lima is a global executive and thought leader in advanced blockchain, Internet of Things (IoT), and artificial intelligence (AI) digital transformation technologies, with expertise in energy (utilities, oil & gas), smart city, telecom/IT, and quantum computing technologies. He is cofounder of the Blockchain Engineering Council, chair of the IEEE Blockchain Energy Standards Working Group, and chair of the IEEE Blockchain… Read More
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