Why Every Company Should Trace the Source of its Energy

The Green Deal

The European Green Deal vows to make Europe climate neutral by 2050, which means achieving net-zero carbon emissions. It aims to do this by cutting emissions, restoring biodiversity, and focussing on a cleaner, circular economy.

However, the current set of Green Deal policies makes reaching these targets highly unlikely. In order to be on track to being climate neutral, there needs to be a far greater focus on promoting the use of green energy.

The importance of using green energy

Green energy is any form of energy that is generated from natural resources, without harming the environment. This type of energy can come from sunlight, wind, or water, and therefore it emits no greenhouse gases into the atmosphere, which are the leading cause of climate change. These natural resources are also renewable, so they not only have little to no environmental impact but can also be used repetitively without depleting the Earth’s resources.

The last decade has seen a significant increase in the use of renewable energy sources, and it has been one of the most pivotal moves towards tackling emissions. Not only on an industrial size scale, but businesses of all sizes are now realizing the importance of harnessing the power of green energy.

Energy transformation to a cleaner, more sustainable energy source is vital in order to come close to meeting the Green Deal’s targets. Using green energy is one of the key ways to reduce the impact of climate change on the environment, by preserving natural resources and reducing harmful emissions.

The benefits of tracing and certifying green energy

Once a business is using green energy it is highly valuable and necessary to trace and certify the procurement of energy from green power sources, in order to fully achieve its decarbonization goals.

Due to consumers’ significant and increasing awareness over the use of green energy, there is a high demand for businesses to be transparent about their energy usage. Authorities are also actively pushing for an increase in energy transformation and certification.

Consistent and reliable tracing allows a business to easily monitor its clean energy use and maintain a stable assurance of its origin as a renewable source. Certifying its source as green energy provides transparency and reassurance to the business itself, as well as to its clientele; establishing trust is vital for any business that claims to use green energy, in an effort to demonstrate its commitment to supporting renewable energy growth.

Blockchain technology

Blockchain technology, a type of DLT (distributed ledger technology), is a record of transactions that form a block or a group, which are then chained together and easily shared among all related parties. This type of technology has a distributed ledger which makes it impossible to violate, guaranteeing that all data involved is immutable.

Blockchain technology is a key tool in the green energy market as it assures the transparency of energy usage and sourcing through the permanent recording of data. It can be used to trace the source of energy consumption and make transactions secure and traceable.

The high degree of traceability and transparency that blockchain provides makes green energy certification processes straightforward and quick, and the supply of green energy more efficient. This encourages the production and consumption of renewable energy, ultimately speeding up the efforts to fight climate change.

Prosume’s energy source tracing service

Thanks to digitization, both the internal and external energy supply sources of any industrial building can be monitored in real-time and managed remotely and automatically. This is invaluable to the increasingly complex energy systems which are now used.

Prosume’s energy tracing technology uses blockchain and DLT solutions, which guarantee reliability and grant access only to the stakeholders that are involved. The service certifies that the procurement of energy comes from a green power source, providing transparency as a green energy consumer. The system monitors renewable power plants’ activity, generating “green tokens” that uniquely match the energy consumed. Businesses can achieve their decarbonization goals by using this technology to assure that their energy usage is fairly and consistently traced and recorded.

Prosume’s platform allows businesses to certify the green energy origin of their supply sources, forming environmental sustainability reports, and reporting the data in official financial statements. The platform legitimizes the accuracy and immutability of energy consumption data from all sources, while its easy-to-use interface encourages more sustainable habits and generates energy consumption savings.

Prosume’s platform can be tailored to each user’s needs, depending on their individual energy consumption needs and goals. The platform consistently provides transparency and trustworthiness, supporting all its users in their energy transformation journey.

Making the transformation towards green energy is essential for all industries and across all levels to significantly reduce their carbon emissions and move towards a more sustainable future. Once this has been implemented, green energy habits need to be recorded and certified efficiently. Without this, businesses are at risk of providing inaccurate and untrustworthy data that can not only greatly affect their reputations, but lead to serious repercussions.

Joining Prosume means joining a community that is intent on achieving climate neutrality as soon as possible. Prosume fosters the use of renewable sources and supports and promotes the move to a greener future for everyone.

About the Author

Vasilya Pulatova