Hedera's Green Revolution: Disrupting the $19 Billion Renewable Energy Certificate Market - Crypto News Flash

• Électricité de France, REDEX, and Rekursive Labs have collaborated to automate the renewable energy certificate process using Hedera’s technology.
• The project demonstrated its effectiveness in Singapore’s MASERA microgrid, enabling real-time REC redemption at electric vehicle charging stations.

The top generator of renewable energy in Europe, Électricité de France (EDF), has teamed up with REDEX and Rekursive Labs. This partnership aims to revolutionize the $19 billion worldwide industry of renewable energy certificates (RECs) by using Hedera’s distributed ledger technology (DLT) in an innovative proof-of-concept (POC).

“The choice of #Hedera for this PoC is strategic due to its speed, scalability, enterprise focus and #CarbonNegative status. Hedera’s commitment aligns with the broader goal of fostering a global movement toward sustainable energy production.”

Read more on @EDFofficiel’s… pic.twitter.com/KVE5ADq3Lr

— Hedera (@hedera) November 30, 2023

Revolutionizing Renewable Energy Certificates

The collaborative endeavor involving EDF, REDEX, and Rekursive Labs capitalizes on the inventive potential of Hedera’s DLT and the open-source Guardian platform. Automating REC issuance and redemption is critical to developing a more transparent and effective renewable energy market. This integration makes this possible. This innovation dramatically changes how customers can impact the renewable energy industry by enabling end users to retire tiny amounts of RECs in real-time.

The chief utive officer of EDF Lab Asia Pacific, Edouard Lavillonniere, expressed hope that the partnership will result in significant transformation. In Lavillonniere’s opinion, this project opens the door to a time when the adoption of renewable energy is visible, easy to understand, and available to a larger population.

Demonstrating Success through MASERA Microgrid

EDF used the MASERA microgrid demonstration in Singapore to illustrate the practical implementation of the POC, where they immediately cashed the tokenized RECs at electric car charging stations The procedure involved obtaining information from several sources, such as energy storage devices and solar panels

As a result, the could instantly reconcile the generation of green energy with its actual consumption at the charging stations.

Additionally, a feature highlighting how user-centric this technology is, EDF’s creative approach gives consumers the freedom to modify the amount of energy authorized for each charging session.

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It is impossible to overestimate the importance of Receipts in tracking the source of electricity usage. Rekursive Labs and REDEX have developed integrated technologies, a significant step forward given the rising issuance and redemption of RECs. All s that produce or use renewable energy can benefit from this integration, which allows the full automation of the REC lifecycle—from issuance to redemption.

The selection of Hedera’s network, which is carbon-negative, fast, and scalable, is a perfect fit with the overarching objective of advancing sustainable energy generation on a worldwide scale. The success of this proof of concept has taken a major step closer to a more sustainable and environmentally friendly energy future.

As of the latest data, HBAR trades at $0.06196, marking a 2.37% rise in the past 24 hours, showcasing its dynamic market presence. Additionally, HBAR 24-hor volume has increased by 10.09%; as of the time of writing, the volume is at $44M. This rally could be a result of this Hedera partnership