The Peace Renewable Energy Credit (P-REC) digital marketplace platform is planned to accelerate renewables development in fragile, energy-poor countries.
The project, an initiative of the Energy Web blockchain consortium and the NGO Energy Peace Partners, builds on the latter’s newly developed Peace Renewable Energy Credit (P-REC) scheme with the development of a digital purchase option for renewable energy buyers to support the development of projects for communities where the projects are installed. The P-REC was developed as an energy attribute certificate following the international I-REC standard, i.e. that a P-REC represents 1MWh of renewable energy generated, to certify the social co-benefits of renewable energy in addition to its traditional environmental benefits.
The digital marketplace will leverage the Energy Web Origin open source software development toolkit, harmonising with the I-REC standard and integrating the Energy Web Zero application, which finds and digitally verifies emissions free renewable energy globally. Have you read? ‘Peace’ renewable energy credit scheme launched for vulnerable countries Blockchain for disadvantaged communities in the Americas Initiate Talks: Jo-Jo Hubbard, Electron “Together we’re bringing a cutting edge, digital solution that will contribute to scaling up the market for P-RECs and, in doing so, unlock more renewable energy investment in high-impact projects around the world,” says Sherwin Das, Managing Director of Energy Peace Partners. To date, […]