Whether you're the owner of a solar or wind farm trying to sell your credits, or the owner of a petrochemical plant trying to buy them, this transaction needs to happen in a straightforward way.
Owners of solar and wind farms want to sell renewable energy credits quickly with low transaction costs and at the right price. Meanwhile, owners of petrochemical plants are trying to buy the credits at the best possible price.
Historically this has been a difficult job, especially for the sellers who've had to navigate mountains of paperwork, process and fragmented thinking. But with Power Ledger it's very simple. You connect our platform to smart meters, and our system obtains the credits, finds a seller and sends you the money.
In a partnership with Silicon Valley Power (SVP), Power Ledger’s carbon credit reporting tool C6 is being used in California’s second-largest electric vehicle charging station, located in the City of Santa Clara.
There are two goals of the project. The first is to track the production and energy usage at the solar PV and battery-equipped six-storey parking station in the heart of the city’s entertainment district.
The second is to digitally record EV charging transactions to assist SVP with earning credits under the California Air Resources Board’s (CARB’s) Low Carbon Fuel Standard (LCFS).
The LCFS program enables EV fleet owners or EV charging network operators to sell credits to fossil fuel refiners and producers. Historically this has been a costly and laborious administrative burden for participants, manually managed via spreadsheets and painful data collection processes.
Although the program is available to any utility, there have been limitations surrounding uptake because of these issues with participation. Power Ledger’s C6 platform will automate the reporting, making the claiming of credits more efficient and beneficial to Silicon Valley Power.
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Australian Financial Review