For producers of renewable energy, the ability to transfer the rights to environmental attributes associated with energy produced in the form of renewable energy certificates (RECs) or energy attribute certificates (EACs) is both an important additional revenue stream and valuable when coupled with the supply of renewable energy to a particular client or buyer. However, the creation of these certificates has not always been a cost effective, flexible, accurate or timely process.
Creating and selling RECs has historically been inflexible, untimely and opaque. In the case of small to medium-sized energy companies, the costs of this process may even be prohibitive.
In a traditional scenario you would likely see manual data collection and verification, perhaps the involvement of a broker to sell RECs and deal through a centralised system, with limited transparency.
The Allinfra Climate Dapp will change how environmental financial products are created and sold.
Decentralised applications (dapps) are applications built on decentralised networks, such as Ethereum. A dapp is a lightweight application that interacts directly with the blockchain, usually with a user-friendly interface, making blockchain interactions seamless and intuitive.
Assume you’re an Allinfra Climate client – you’re already collecting data directly from source in a verifiable, immutable form, in some cases utilising metering or IoT devices with our blockchain technology embedded for the ultimate level of provenance.
The dapp allows you, the asset owner, to batch your data into vintages, (e.g. a batch of kWh produced over a certain time period), mint a financial product referencing that data (say a dREC™ – a digital REC) and then distribute that dREC.
That dREC is permanently linked, and can be directly traced back, to its source data – down to specific meters on a specific asset at a specific point in time.
The legal documentation assignment of the environmental attributes is embedded in that dREC itself, utilising IPFS and other web3 technologies.
These three elements create a highly verifiable, reliable, and decentralised system that we believe will form the future of the climate markets:
Our technology is easy to implement, can connect into existing infrastructure, records energy production down to the meter level, and is able to ingest a variety of supporting data.
The Allinfra Climate solution helps reduce costs, improve efficiency, provide real-time monitoring of data and powers the creation of environmental financial products linked permanently and directly to underlying data.
Are you an energy company looking for a more efficient way to collect, record and monetise production data? Are you looking to meet your climate goals with the most advanced climate product in the market? We can help. Get in touch with our team for a demo of Allinfra Climate.