Businesses and organizations continue to seek ways to switch to cleaner energy sources as the world prioritizes sustainability. Energy attribute certificates (EACs), are a key tool in this journey. They play a major role in tracking and confirming the use of renewable energies. EACs can also help organizations achieve their environmental goals by influencing Carbon Free Electricity targets. This article will explain what EACs do and how they affect CFE.
1. What are Energy Attribute Certificates (EACs)?
Energy Attribute certificates (EACs), which are market-based instruments; represent the environmental benefits that come from generating electricity using renewable sources. These certificates are given for every unit of electricity generated by renewable sources such as wind, solar or hydropower. These certificates can be purchased by an organization to claim the electricity they consume is renewable, even if it comes from a grid that may contain fossil fuels.
EACs are a simple and transparent way for companies to show their commitment to carbon reduction and sustainability. These certificates are vital for companies that want to reach public targets on renewable energy and carbon-free power.
2. What is the role of EACs?
Carbon Free Electricity (CFE), also known as low-carbon energy, is energy that comes from sources with little or no carbon emissions. EACs play a crucial role in the CFE framework, as they provide a transparent way to track and prove the use of clean power. EACs allow companies to align their energy use with their sustainability goals. They do this by purchasing renewable energy certificates and matching their electricity usage.
CFE emphasizes the shift to 100% renewable energy consumption. EACs can help bridge the gap that exists between actual electricity production, and an organization’s clean energy goals. EACs can be used by an organization that wants to obtain 24/7 Carbon Free Energy to monitor its progress and adapt its strategy.
3. Granular data collection for tracking energy and emissions
Granular Data Collection is a key feature of modern energy acquisition strategies. It involves tracking electricity consumption and emissions in very fine detail, sometimes up to an hourly interval. The data is so detailed that organizations can monitor energy consumption in real-time and meet their CFE goals.
Companies like Flexidao, for example, provide dashboards that present this data. Businesses can have a complete overview of their electricity procurement by using this “single-source of truth”. Granular data collection allows organizations to assess performance quickly through customized reports that compare different methodologies, such as annual reporting and hourly matching.
4. Regulation and its Impact on CFE
Organizations must adapt their strategies to the changing regulatory environment. Energy attribute certificates provide a reliable method for businesses to align themselves with new regulations. They do this by offering a way to report and measure clean energy usage. EACs allow companies to evaluate the impact of new regulation on public targets, and forecast scenarios in order to understand possible outcomes.
New regulations, for example, could require more detailed reporting of energy consumption. For instance, they might mandate hourly data matching instead of just totals. EACs can be used in conjunction with detailed data to improve procurement strategies and ensure compliance. This helps businesses stay on top of regulatory changes and maintain progress towards their CFE goals.
5. EACs can help advance procurement strategies
Companies are integrating strategies of the next generation in their energy procurement process as they strive to be more sustainable. This includes the implementation of 24/7 Carbon-Free Energy as well as Emissions first, which focuses on reducing emission across the board.
EACs are a key component in the implementation of these strategies, as they provide a flexible and transparent way to track clean energy consumption. EACs can be integrated into procurement strategies by organizations to help them achieve their clean energy and carbon reduction goals. Businesses can stay competitive and forward-thinking by leveraging EACs.
Conclusion
Energy Attribute certificates is an important tool for organizations and businesses aiming to meet Carbon Free Electricity targets. EACs are a verifiable way to prove renewable energy usage. They help organizations to track and achieve their sustainability goals by collecting granular data and adhering to changing regulations. EACs are expected to continue playing a key role as the drive towards carbon-free electricity future increases. They will also help to advance clean energy procurement strategies, and ensure long-term success with the transition to sustainable energies.