Clean Energy Firm Will Test Blockchain for Renewable Energy Trading

Clearway Energy partnered with Ethereum based energy trading startup Power Ledger to jointly build a system for trading renewable energy certificates.

Initially the solution will be tested in Massachusetts, generating one to five megawatts of electricity, while the second test will take place in the Midwest and generate upwards of 20 megawatts.

The U.S. renewable energy certificates market is currently valued at over $3 billion and suggests that transaction costs can add another 3% to 10% to the certificates themselves.

Power Ledger Executive Chairman Jemma Green (photo) said that while digital certificate trading options exist, their costs add up when they are aggregated through brokers or bilateral contracts across state lines.

Green also announced that the company plans for the tests to continue for several months, and the service is planned for expansion in early 2020.

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