EW Origin is a decentralized, open source and customizable toolkit for the renewable energy and carbon markets that claims to simplify and improve the way customers buy renewable energy. The pilot will allow PJM-EIS to study the potential benefits of blockchain technology to improve the security, transparency and transaction costs of GATS.
PJM-EIS is a wholly owned subsidiary of PJM Connext, LLC, itself a subsidiary of PJM interconnection. PJM Interconnection is the electricity grid operator and wholesale market administrator for a 13-state region of the United States serving 65 million people.
GATS is a paid subscription service that creates and tracks a generator-specific electronic certificate for each megawatt hour of electricity produced by a generator. The system tracks the environmental and emissions attributes of production, as well as the ownership of credits as they are traded or used to meet government renewable energy standards.
The collaboration will focus on the PJM region of the GATS market and aims to develop, test and deliver a full implementation of the blockchain-based EW Origin toolkit. EW Origin helps unlock renewable energy investments by reducing administrative and transaction costs, modernizing the user experience, and enabling better access to renewable energy markets (including for small buyers and below-grade sellers. megawatt hour).
âWe are excited about the opportunity to collaborate with Energy Web Foundation and gain experience with new technology,â said Ken Schuyler, President of PJM-EIS. âOur customers have expressed interest in integrating blockchain technology into our services, and we look forward to leveraging the technology where it can provide additional benefits.â
EW Origin, which operates on the Energy Web chain, is a toolkit for renewable energy markets across the world that leverages blockchain technology to record provenance and automatically track ownership of energy produced from renewable sources. . EWF is developing EW Origin as an open source toolkit for issuers and registries around the world that oversee Renewable Energy Certificate (REC), Guarantee of Origin (GO), International Certificate of renewable energy (I-REC) and other similar green energies. attribute systems.
EWF will develop the full EW Origin toolkit for a benchmark implementation in collaboration with PJM-EIS between October 2018 and November 2019. EWF will also manage the EW Origin pilots in the PJM region in coordination with PJM-EIS and various key players market to test the toolkit in real world settings and gather feedback for improvements. PJM-EIS will advise this development to ensure that the implementation meets the business, regulatory and technological needs for issuance, negotiation, monitoring, withdrawal and reporting of RECs in the GATS.
EWF’s goal with this collaboration is to demonstrate how a large number of distributed energy assets, in the tens or hundreds of thousands, can participate in the renewable energy certificate markets, operating at a price where it is economically feasible to ‘even bring small rooftop solar installations to these markets. EW Origin can do this by standardizing and automating processes such as physical asset registration, asset authentication via digital signatures, secure data recording, REC creation and validation, credit registration the ownership of RECs and the withdrawal of RECs.
EWF will make the complete EW Origin toolkit available to the public for reference and use as a template by other REC, GO and I-REC trading and tracking systems so that application developers can build and deploy their own. modernized technological services for issuers, registries, and market players around the world. Application developers can also reference and use the EW Origin Toolkit to develop electric vehicles, batteries and other energy-focused applications running on the EW chain where improved traceability of power generation brings value.