Renewable Energy generation can produce excess capacity, or shortages based on geography. Matching buyers and sellers to provide a marketplace for excess capacity
What it does
Tracks the creation of Renewable Energy Certificates (RECs), and matches buyers and sellers
How we built it
We will use a private consortium blockchain-based solution to interface with existing IOT metering solutions and create RECs for each MWh generated and fed into the public electric grid, and then enable producers to sell their RECs to either RPS or voluntary market buyers.
Challenges we ran into
Incumbent systems and the long legacy of consolidation in US energy markets is a challenge to address and work around.
What's next for Renewable Energy Marketplace and Credit Exchange
- Proprietary metering device or access to generator metering API.
- Regulatory access to a state RPS market - state recognition that our verified REC’s will count toward utility RPS compliance.
- Market surveys and product testing to validate the concept.