Powerledger, an energy software company, has unveiled a significant enhancement in its TraceX marketplace, enabling organizations to directly purchase Renewable Energy Certificates (RECs) from renewable energy generators. This new feature removes the need for businesses to either establish their own registry account in a REC tracking system or rely on intermediaries for REC purchases.
Previously, the traditional REC purchase process through intermediaries was often opaque, leaving buyers with limited information regarding the origins and attributes of their RECs. TraceX’s new feature addresses this issue by connecting end customers directly with renewable energy generators, ensuring full transparency and empowering business buyers to make more informed decisions.
Scott Burns, VP Environmental Commodities of TraceX, highlighted the transformative potential of this development, stating, “Our new marketplace feature is a game-changer for businesses committed to sustainability. By removing the need for a registry account, we’re opening up the market to end buyers of RECs who would need to buy via an intermediary. Business customers will now have unprecedented clarity and control over their REC purchases, promoting trust and accountability in the renewable energy market.”
The key benefits of the new marketplace feature include direct access to generators, transparent pricing, enhanced trust and accountability, and a user-friendly interface. Business customers can now purchase RECs directly from specific projects, ensuring they know exactly where their renewable energy is coming from. Additionally, the platform provides clear insight into the cost of RECs, enabling buyers to understand the true value of their purchases. All REC attribute data for every bundle listed is available to buyers ahead of REC purchases, fostering confidence and trust in REC transactions and meeting specific voluntary standards. The platform is designed for ease of use, making the process of purchasing RECs straightforward and accessible to all buyers, regardless of their experience level.
The launch of this marketplace feature marks a significant step towards supporting the global transition to renewable energy. By making REC purchases easier and more transparent, TraceX helps businesses play a more active role in their ESG strategies.
Fiona Tiller, CEO of TraceX, emphasized the importance of transparency and market access, noting, “Although the US voluntary REC market is projected to grow at a steady 15.9% annual rate from 2024 to 2033, we continue to see challenges related to transparency, market access, and the risks from manual REC procurement processes. Our new marketplace feature is one of the many ways we are working to create scalable markets that meet growing sustainability targets without compromising on transparency.”
This development is particularly important for businesses committed to sustainability, as it offers a more efficient and transparent way to fulfill their renewable energy commitments. By removing intermediaries and providing clear pricing and attribute data, TraceX is set to revolutionize the way businesses approach REC purchases, ultimately promoting greater trust and accountability in the renewable energy market.
