WattCarbon, the climate tech company expanding voluntary clean energy procurement to include distributed energy resources, is launching a peer-to-peer version of its WEATS Marketplace, allowing buyers to purchase EACs directly through branded storefronts from vetted suppliers.
SAN FRANCISCO, July 23, 2024 /PRNewswire-PRWeb/ -- WattCarbon, the climate tech company expanding voluntary clean energy procurement to include distributed energy resources, has launched WEATS Storefronts, a peer-to-peer marketplace for transactions of Energy Attribute Certificates (EACs). "There are many flaws with legacy renewable energy and carbon offset markets, but there may not be any worse aspect than the lack of transparency. Buyers should have the right to complete information about projects and their impacts," explains WattCarbon's CEO McGee Young.
WattCarbon is able to provide this level of transparency because it also runs WEATS, the only EAC Registry that provides a unique ID number for every watt-hour of clean energy. Every relevant attribute of a project is made known to buyers, allowing them to select for the characteristics of an energy certificate that matter most, such as the location of the project, its social impact, or its emissions savings.
As part of the rollout, WattCarbon is providing EAC sellers with the opportunity to set up branded storefronts, giving those companies an opportunity to fully describe the types of projects they are deploying and the impacts on local communities they are delivering. "It can be hard for us to get our message out about our work," says Anthony Kinslow II, CEO of Gemini Energy, "but the storefront helps us connect with buyers who are interested in high impact EAC purchases."
To ensure that the EACs for sale on the WEATS Marketplace are properly vetted, all sellers must publish their Measurement and Verification (M&V) methodologies and submit them for review to the OpenEAC Alliance, a voluntary consortium of stakeholders with relevant domain experience. "Investing in decarbonization is the most valuable and impactful form of climate action available to us, but like all other markets, this requires practitioners to show their work and explain their counterfactual assumptions," says Steve Kromer, senior advisor to the OpenEAC Alliance.
Since the launch of the WEATS Marketplace in May, the number of participating companies has doubled, making EACs available from a diverse selection of energy projects, including electrification projects, load shifting and demand flexibility, combined solar and storage, and local microgrids. "What we are seeing is a massive growth in the variety and scale of impact of companies that are joining the WEATS Marketplace," according to George Whittlesey, who oversees enrollments for WattCarbon. "Without a doubt there are tremendous opportunities to accelerate the energy transition by unlocking EACs as a way to help make these projects more affordable for end consumers."
Starting now, buyers can directly purchase existing EACs through the WEATS Marketplace or make a custom procurement request for new EACs that meet certain requirements. "For example, a buyer of EACs may decide that they want to meet a certain carbon impact goal, or they want to make sure that their 24/7 Carbon Free Energy goal meets the Three Pillars Test," explains Julia Bunte-Mein, who manages the WEATS Marketplace. "We've made it possible to really dial-in a very specific set of requirements and find the impact that meets them all."
About WattCarbon
WattCarbon provides a tracking and procurement platform for distributed clean energy certificates. WattCarbon's mission is to steer billions of dollars towards local clean energy investments that reduce carbon emissions and lower energy bills. WattCarbon operates WEATS, the verified registry for DERs, and the WEATS Marketplace, the hourly market for distributed energy attribute certificates (EACs).
Media Contact
Sarah Emery, WattCarbon, 1 4147592599, [email protected], www.wattcarbon.com
SOURCE WattCarbon
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