Powerledger's TraceX Enhances Market Access for Renewable Energy Buyers

Powerledger, an energy software company, has introduced a new feature in its TraceX marketplace that enables organizations to purchase Renewable Energy Certificates (RECs) directly from renewable energy generators. This innovative feature eliminates the need for businesses and organizations to open their own registry account in a REC tracking system or go through intermediaries to buy RECs. Instead, they can directly buy and retire RECs in the TraceX marketplace for voluntary claims, offering a clearer understanding of the origins and costs associated with RECs.

Traditionally, purchasing RECs through intermediaries can be opaque, leaving buyers with limited information about where their RECs come from and their associated attributes. By connecting end customers directly with renewable energy generators, TraceX guarantees full transparency, empowering business buyers to make more informed decisions.

Scott Burns, VP Environmental Commodities of TraceX, stated, “Our new marketplace feature is a game-changer for businesses committed to sustainability. By removing the need for a registry account, we’re opening up the market to end buyers of RECs who would need to buy via an intermediary. Business customers will now have unprecedented clarity and control over their REC purchases, promoting trust and accountability in the renewable energy market.”

The key benefits of the new marketplace feature include direct access to generators, transparent pricing, enhanced trust and accountability, and a user-friendly interface. Business customers can purchase RECs directly from specific projects, ensuring they know exactly where their renewable energy is coming from. The platform provides clear insight into the cost of RECs, enabling REC buyers to understand the true value of their purchases. All REC attribute data for every bundle listed is available to the buyers ahead of REC purchases, fostering confidence and trust in REC transactions and meeting specific voluntary standards. The platform is also designed for ease of use, making the process of purchasing RECs straightforward and accessible to all buyers, regardless of their experience level.

The launch of this marketplace feature marks a significant step towards supporting the global transition to renewable energy. By making REC purchases easier and more transparent, TraceX helps businesses play a more active role in their ESG strategies.

Fiona Tiller, CEO of TraceX, Powerledger, noted, “Although the US voluntary REC market is projected to grow at a steady 15.9% annual rate from 2024 to 2033, we continue to see challenges related to transparency, market access, and the risks from manual REC procurement processes. Our new marketplace feature is one of the many ways we are working to create scalable markets that meet growing sustainability targets without compromising on transparency.”