Renewable Energy Certificates (RECs) can support the transition to a cleaner energy future. They empower businesses and individuals to take meaningful action by signaling their support for renewable energy projects, reducing carbon footprints, and driving demand for clean energy. Procuring and retiring RECs not only helps to meet sustainability goals but also demonstrates a strong commitment to combating climate change and fostering innovation in the energy sector. The flowchart below visualises how RECs are generated, traded, and retired within REDEX’s ecosystem.
REDEX offers a one-stop ecosystem to support the entire REC lifecycle – asset registration, data verification, marketplace trading, and retirement. Our solutions streamline the REC lifecycle, resolving pain points experienced by asset owners, generators, brokers, buyers and sellers.
1. Asset Registration
REC generation begins with the registration of renewable energy assets, such as solar farms, wind turbines, or hydroelectric plants. REDEX partners with globally recognised registries like I-REC(E) and APX TIGR to onboard these assets. With our innovative solutions, assets can be onboarded within two weeks, compared to the previous timeline of three months.
These partnerships ensure compliance with internationally recognised standards for tracking and certifying renewable energy production, providing confidence and transparency for all REC transactions, guaranteeing the environmental integrity of each REC.
2. Renewable Energy Generation Data
Renewable energy is produced by these assets and fed into the electrical grid, making it available for consumption.
Power generation data is meticulously monitored and sent to the REC registry for verification, ensuring that every MWh of renewable energy attributed to a REC is accurately accounted for. This verification process further enhances the reliability of RECs, giving end-users assurance in their sustainability claims.
3. Issuance Of RECs
For every 1 MWh of renewable energy generated and verified by the REC registry, the registry issues one REC. This REC serves as proof of clean energy production and the associated environmental attribute.
4. Trading RECs
Once issued, RECs are made available for trading on platforms like REHash. REHash is Asia’s leading REC trading platform and is developed and operated by REDEX. Renewable energy asset owners can conveniently sell their RECs, creating an additional revenue stream that can be reinvested into new renewable energy projects. For buyers, purchasing RECs offers a practical option to access renewable energy. This trading mechanism fosters collaboration between energy producers and organisations committed to sustainability, driving growth in the renewable energy market.
5. Retirement of RECs
Once purchased, REC owners can retire RECs on REHash to prevent reuse or reselling, ensuring that the associated environmental benefits are claimed only once. REC retirement maintains the integrity of the system, guaranteeing transparency and accountability in renewable energy transactions.
Equipped with the understanding on how RECs work, businesses and individuals are empowered to take meaningful action in supporting the renewable energy market.
Purchasing RECs allows stakeholders to reduce their carbon footprint, signal their demand for clean energy, and potentially contribute to the development of new renewable energy projects. Beyond meeting sustainability goals, investing in RECs demonstrates a commitment to decarbonise. REDEX ensures every aspect of the REC lifecycle is managed with integrity and transparency, providing confidence in the REC market.
Ready to drive the shift toward a sustainable future? Contact us at enquiry@redex.eco to learn more about our comprehensive REC ecosystem or for any enquiries. Together, we can advance the renewable energy transition!
