Nowadays, many companies are seeking the approval of a 100% utilization of green energy. However, how can we know that energy source is from renewable energy? REC/I-REC is the answer to this concern.
Introduction to REC/I-REC
REC (Renewable Energy Certificate) or I-REC (International Renewable Energy Certificate) are a type of energy attribute certificate (EAC) that represents the environmental attribute associated with the generation of renewable energy.
The generation of one megawatt-hour of renewable energy indicates one REC received. The REC/I-REC system renders the validation and managing mechanism for the consumers towards the sources of energy. In addition, it ensures that energy sources are not produced from non-renewable sources such as coal, natural gas, petroleum, and more.
On the other hand, REC/I-REC have contributed to many regions worldwide as a means to track and verify the production and consumption of green energy, creating a market of renewable energy attributes.
Benefits from obtaining REC/I-REC
Here are some key benefits to businesses when registering for REC
Promotion of Renewable Energy: RECs encourage the production and consumption of renewable energy by providing a market-based mechanism to attribute the ecological benefits of renewable generation.
Compliance with Renewable Energy Targets: Businesses, utilities, and governments can use RECs to meet renewable energy targets or regulatory requirements. This helps in achieving sustainability and environmental goals.
Flexibility: RECs provide flexibility in sourcing green energy. Organizations can purchase RECs to offset their conventional energy use, even if they cannot directly procure renewable energy themselves.
Verification and Transparency: RECs offer a transparent approach to verifying the source and environmental attributes of clean energy. This transparency is crucial for sustainability reporting and compliance.
Market Development: The REC market incentivizes investment in renewable energy projects. Creating demand for RECs supports the growth of the renewable energy sector.
Risk Mitigation: RECs can help reduce exposure to volatile fossil fuel prices by allowing organizations to secure a stable supply of renewable energy attributes.
On the other hand, I-RECs also provide many advantages to businesses that businesses should consider
Global Recognition: I-RECs are internationally recognized, making them suitable for multinational organizations. They can be used across borders, simplifying the tracking and trading of green energy attributes in various countries.
Standardization: I-RECs offer a standardized and consistent method for tracking and verifying renewable energy. This standardization simplifies cross-border transactions and ensures uniform reporting.
Supply Chain Transparency: I-RECs can support in providing transparency in supply chains, demonstrating a commitment to renewable energy sourcing to customers and stakeholders around the world.
Sustainability Reporting: I-RECs facilitate the inclusion of green energy data in global sustainability reports, helping organizations showcase their environmental responsibility internationally.
Simplified Compliance: For global organizations, I-RECs can make it easier to comply with clean energy targets in multiple countries without dealing with the complexities of various regional REC systems.
Risk Mitigation: Similar to RECs, I-RECs help mitigate risks associated with volatile energy markets and fossil fuel dependencies.
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