Thailand – International RECs (I-RECs)
Powering the Green Energy for our sustainable future
We are facing the impacts of climate change driving many countries collaborate to deal with climate issues for sustainable future. The Energy sector that plays an important role in driving the global economies has emitted the highest GHG emissions. Therefore, it is a starting point for many countries transition to clean, low-carbon energy usage and empower generation and consumption of renewable energy at national and corporate level.
With our core business combined with an expert team that understand the complicated conditions and regulations of the I-REC market, Green and Blue Planet Solutions (GBP) provides energy consulting services in suitable solutions and guidelines to meet our client’s needs and fulfil their requirements. No matter who you are, a power generator or an electricity consumer, we are pleased to assist your business in the best practices to lower your greenhouse gas emission towards your sustainability goals while maximizing your financial benefits in a cost-effective way.
What is an I-REC?
I-REC, stands for the International Renewable Energy Certificate, is a tradable green value that is verified and certified qualities according to the I-REC Standard providing a strong energy attribution. Generated Renewable Energy consists of distributed electrical power and energy attribute certificate that are bought and sold separately, called “Unbundled RECs”. Those I-REC certificates, which are created from renewable sources like solar, wind, biomass, biogas, hydro and geothermal, are issued, transferred and cancelled through global market platform, called I-REC Registry. Purchasing a REC can proof that 1 MWh (megawatt-hours) of renewable energy has been produced from a reliable source (1 MWh = 1 REC) and electricity consumers (buyers) can claim all of the environmental benefits associated with green electricity that they’re supporting.
Introduction an overview of how I-REC work
As GBP already has a qualified and approved business account as a Registrant in the international
I-REC service platform, you do not have to worry about the account requirement or any operations on the international electronic platform. Join with us, we are here to represent your business making online trading easier for you.
For Renewable Energy Project Owners – Selling your I-REC certificates
If you are owner of the renewable energy power plant and you are finding additional value for your business,
I-REC system can potentially meet your expectations. However, if you are wondering that your renewable energy project can participate in I-REC market and what do you have to do, GBP can clearly advise and support on behalf of your business to register production device and create I-REC certificates from your generated renewable power making benefits from earning more income from the sale of I-RECs. Moreover, GBP can help your project matching with interested parties or buyers to sell your I-REC certificates at reasonable price.
- Support the entire process of production device registration on the I-REC service platform and issuing I-REC certificates from your generated renewable electricity on your behalf, including verification and validation of production facilities with the relevant authorities.
- Promoting and finding end-users to purchase your I-REC certificates
- Transferring I-REC certificates to final consumer through account in the registry on behalf of your company
For buyers – Purchasing I-REC certificates
If you are companies or organizations with environmental awareness to use clean energy in business operations, GBP can support you to purchase the equivalent volume of I-REC certificates from reliable power generators based on your green electrical requirement. You can take advantages from green value that you’re supporting to proof of claim about sustainability commitment of RE100 for renewable energy consumption, to achieve carbon neutrality goal, or to report scope 2 indirect greenhouse gas emissions in DJSI, CDP, or carbon footprint report.
- Sourcing I-REC certificates from reliable renewable energy generators based on your energy consumption and your target
- Retirement (redemption) of I-REC certificates on your behalf in the I-REC registry
1. What is the difference between Renewable Energy Certificates (RECs) and Carbon Offsets?
They are market-based instruments with different units and objectives. RECs refer to the amount of electricity generated from renewable sources measuring in megawatt-hours (MWh) unit. The purchase of RECs aims to encourage new renewable energy investors and to promote demand of renewable energy usage. On the other hand, carbon offsets are measured in the unit of CO2 equivalent with representative of using greenhouse gas emission reduction in one place to offset emissions from activities in another place.
2. How to ensure that there are no double counting?
Under the International REC standard, authorized issuers have responsibility to ensure that all device owners comply with strict rules and regulations.
During the process of devices registration, issuers perform the verification and due diligence checks of the production facility without existing in other registries or other tracking scheme to prevent any possible double counting.
3. Where can I find registered devices in the I-REC system?
On its website https://evident.services/device-register, The International REC Standard provides list of registered devices and auditable detail of each production facilities to support the I-REC trading.