PJM-EIS will advise this development to ensure the implementation meets business, regulatory, technological needs for issuing, trading, tracking, retiring, and reporting RECs in GATS.
PJM EIS FULL
EWF is developing EW Origin as an open-source toolkit for issuing bodies and registries across the globe that oversee renewable energy certificate (REC), guarantee of origin (GO), international renewable energy certificate (I-REC), and other similar green energy attribute systems.ĮWF will develop the full EW Origin toolkit for over the next 12 months while collecting feedback for improvements. “Our customers have expressed interest in incorporating blockchain technology into our services, and we look forward to leveraging the technology where it can provide additional benefits.” State-of-the-artĮW Origin, which runs on the Energy Web Chain, is a state-of-the-art toolkit for renewable energy markets across the globe that leverages blockchain technology to record the provenance and automatically track the ownership of renewable energy. “We are excited for the opportunity to collaborate with Energy Web Foundation and gain experience with a new technology,” said Ken Schuyler, president of PJM-EIS. EW Origin helps unlock renewables investments by reducing administrative and transaction costs, modernising user experience, and enabling greater access for renewable energy markets (including for smaller buyers and sellers below the megawatt-hour level). The collaboration will focus on the PJM region of the GATS market, and aims to develop, test, and make available a full implementation of the blockchain-based EW Origin toolkit. The system tracks the environmental and emissions attributes of generation, along with the ownership of credits as they are traded or used to meet governmental renewable-energy standards. GATS is a paid subscription service that creates and tracks a generator-specific electronic certificate for every megawatt-hour of electricity produced by a generator. PJM Interconnection is the power grid operator and wholesale market administrator for a 13-state region of the United States serving 65 million people. PJM-EIS is a wholly-owned subsidiary of PJM Connext, LLC, itself a subsidiary of PJM Interconnection. The pilot will allow PJM-EIS to investigate the potential benefits of blockchain technology to improve the security, transparency, and transaction costs of GATS. Energy Web Foundation and PJM Environmental Information Services Inc (PJM-EIS) have announced a landmark collaboration focused on developing and testing a market-wide reference implementation of Energy Web Origin for the Generation Attribute Tracking System (GATS) administered by PJM-EIS.ĮW Origin is a custom open-source, decentralised toolkit for renewable energy and carbon markets that simplifies and enhances the way in which customers procure renewable energy.
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