RED Platform Will Award Green Certificates to Consumers for Using Renewable Energy
Restart Energy is developing a new standard of cryptographic green certificates on Blockchain, that will be awarded to consumers of renewable energy. These green certificates will store information about the source of energy, the producer, the consumer/user and the owner — all this information will be publicly available. Restart Energy believes that creating a transparent and accountable standard of cryptographic green certificates that can be traded on a secondary market, will help to incentivize consumers to use renewable energy, and ultimately increase revenues for producers as well.
Consumers holding RED MWAT tokens will automatically receive 1 Cryptographic Green Certificate for each MWh consumed from renewable sources. Certificates will be automatically allocated to consumers’ accounts, and will keep track of how much green energy they consume. A secondary exchange for green certificates will be developed on the RED platform, where companies that want to support renewable energy production and help the planet end fossil fuel pollution, can purchase green certificates from consumers based on free-market principles. Companies will be able to use purchased green certificates globally to reduce their carbon footprint, and prove their green credentials in a transparent manner.
Green certificates can be viewed as an additional source of income for users, that incentivizes the purchase of green energy on the RED Platform. By deploying these green certificates into the RED Ecosystem, Restart Energy is increasing the added value and margin gains for renewable energy producers that access the RED Platform.
Green certificates (GCs) are predominantly used in Europe and represent a tradable commodity, proving that certain electricity is generated using renewable energy sources. One certificate represents the use of one MWh of green electricity. In Romania, where Restart Energy has its strongest customer base, green certificates can be traded through a centralized anonymous GCs market — an organized GC trading structure, where market participants place orders in relation to the price and quantity of GCs — without having access to information regarding the identity of other market participants, or the offered quantities and prices.
GCs can also be traded through a centralized market for electricity produced from renewable sources. Here electricity is traded in a competitive, transparent, public, centralized and non-discriminatory manner, together with the GCs associated with that electricity. Prices for traded electricity are set through a competitive process, while the GCs are sold at latest available market closing price for spot transactions performed on the centralized anonymous GCs market.