Powerledger is applying our proprietary technology to the evolving market for trading digital energy commodities partnering with Clearway to develop a platform to trade Renewable Energy Certificates (RECs) in the US.
estimated market size for RECs in the United States.
of electricity was from an eligible renewable energy resource.
require electricity companies to use a portion of electricity from a renewable source each year.
Powerledger and Clearway Energy Group partnered to define and develop the requirements for a digital marketplace for the trading of Renewable Energy Certificates (REC's) in the US.
Clearway is one of the largest developers and operators of clean energy in the United states with over 5 GW of wind, solar and every storage in Operation making them the perfect partner to define REC market requirements
The successful project applied Powerledger’s proprietary blockchain technology to enable the ingestion of energy generation data and conversion to the the equivalent amount of REC's.
With Clearways operating assets in over 25 states, TraceX was able to ingest energy data at point of creation and facilitate the sale and transfer of certificates to prospective buyers who are looking to use these certificates to meet their sustainability targets.
This project brought enormous value to all renewable energy certificate markets as it demonstrates the ability to streamline a process that can be cumbersome and often lacks transparency. A digital marketplace, similar to what has been demonstrated in this project, can deliver value not only to Sellers of certificates but also to buyers and brokers who are looking for price transparency and seamless trading.