Based on a recent report, Clearway Energy Group, a clean energy development company situated in the U.S plans to launch a pilot program for the trade of renewable energy credits on a blockchain.
ETHEREUM Based Energy Trading Platform
In order to create a system for trading renewable energy certificates, the energy firm forged a partnership with Power Ledger, an ETHEREUM based energy trading company.
During an interview, a representative of Power Ledger revealed that the solution will first be examined in Massachusetts where one to five megawatts of electricity will be produced. The second test will take place in the Midwest where more than 20 megawatts of electricity will be generated.
Renewable energy certificates market in the United States which is presently worth more than $3 billion is reportedly expected to increase by 3% to 10% to the certificates themselves because of transaction costs.
Jemma Green, the Executive Chairman at Power Ledger stated that although digital certificate trading options are available, the…