-AD-
HomeNews$19 Billion Renewables Game Changer: EDF and Hedera's PoC Unveiled

$19 Billion Renewables Game Changer: EDF and Hedera’s PoC Unveiled

- Advertisement -
  • Hedera, EDF, REDEX, and Rekursive Labs collaborate on a Proof-of-Concept (PoC) using distributed ledger technology (DLT) to revolutionize the $19 billion renewable energy certificate market.
  • The PoC demonstrates real-time REC redemption at EV charging stations, enhancing efficiency, transparency, and verification in the renewable energy sector.

A Leap Towards Sustainable Energy

In an unprecedented move, Électricité de France (EDF), a leader in global electricity and Europe’s foremost renewable energy producer, has joined forces with REDEX, a key provider in Renewable Energy Certificate (REC) solutions, and Rekursive Labs, experts in Web3 distributed ledger technology. This synergy is set to revolutionize the $19 billion global renewable energy certificate market with an innovative proof-of-concept (PoC) leveraging Hedera’s cutting-edge distributed ledger technology (DLT).

Revolutionizing the Renewable Energy Market

The collaboration’s focal point is to enhance the efficiency, transparency, and verification processes in the renewable energy sector. Utilizing Hedera’s DLT alongside the open-source Guardian platform, the project automates the issuance and redemption of RECs, leading to a more streamlined and transparent renewable energy market.

A pivotal achievement of this initiative is enabling end-users to retire RECs in small amounts in real-time. This capability empowers consumers to actively demonstrate their commitment to environmentally sustainable electricity usage. Edouard Lavillonniere, Managing Director of EDF Lab Asia Pacific, expressed enthusiasm about the partnership’s potential to facilitate the adoption of renewable energy in a transparent and accessible manner.

Groundbreaking PoC in Action

The PoC, executed using EDF’s MASERA microgrid demonstrator in Singapore, showcased automated REC redemption at electric vehicle (EV) charging stations. This process involved aggregating data from diverse sources like solar panels and generators to match green energy production with actual consumption. EDF’s approach allows customers to select the amount of energy certified for each charging session, offering unprecedented flexibility.

Zhaotan Xiao of REDEX highlighted the importance of this development in light of Europe’s Carbon Border Adjustment Mechanism (CBAM) and anticipated the scalable tokenization of environmental attributes across global supply chains. He expects enthusiastic adoption by Hedera’s council members, part of the RE100 commitment.

Technology and Sustainability Converging

RECs have witnessed a notable increase in issuance and redemption, doubling annually. With REDEX and Rekursive Labs’ technology, any renewable energy system can fully automate the REC lifecycle. Jason Loh from Rekursive Labs envisions embedding this REC tech stack in systems from residential meters to large hydroelectric plants, using Web3 technologies to ensure transparency and integrity throughout the supply and production chain.

Selecting Hedera’s network for the PoC is strategic, given its speed, scalability, enterprise focus, and carbon-negative status. This choice aligns with the overarching objective of fostering a global movement towards sustainable energy production. The successful execution of this PoC marks a major milestone in the journey towards a greener, more sustainable energy future.

Disclaimer: ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Godfrey Benjamin
Godfrey Benjamin
Godfrey Benjamin is an experienced crypto journalist whose primary goal is to educate everyone about the prospects of Web 3.0. His love for crypto was sparked during his time as a former banker when he recognized the clear advantages of decentralized money over traditional payments. Business Email: info@ethnews.com Phone: +49 160 92211628
RELATED ARTICLES

LATEST ARTICLES