News

Permilyon’s First Solution: Renewable Energy Certificates

by Jason Denner
September 5, 2024
•
5 min read

At Permilyon, we're committed to enabling companies to act on reducing emissions. Our mission is to accelerate the transition to a decarbonized economy, recognizing that the path to sustainability is both a challenge and an opportunity for businesses. It's with this mission in mind that we're happy to announce that Renewable Energy Certificates (RECs, also known as EACs or GOs) are our first marketplace offering.

Why RECs? A Strategic Choice‍

Power generation is the largest source of global carbon emissions, but it is also the sector that is leading the transition to lowering emissions through renewables like solar and wind. RECs represent an impactful and accurately metered way for companies to tackle electricity sector emissions and Scope 2 emissions without the immediate need for direct investment in renewable infrastructure. These certificates guarantee electricity was generated from renewable sources (i.e.,1 REC = 1MWh of electricity generated from renewable sources), and purchasing them helps fund the production of clean energy.

Here’s why we believe RECs are a foundational step for companies and why we now offer them:
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  1. Immediate Impact with Minimal Effort: RECs allow businesses to quickly and effectively reduce their carbon footprint. This is crucial for companies to accelerate progress towards their sustainability targets and demonstrate they are taking steps towards a more sustainable future.
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  2. Flexibility and Accessibility: Offering an accessible entry point into renewable energy procurement, RECs are a versatile tool that can be scaled to suit businesses of all sizes. Almost all companies can use RECs on some portion of their emissions. This flexibility is key in our mission to make decarbonization tools available to a broad spectrum of the economy.
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  3. Market Demand and Compliance: With increasing regulatory pressures and a growing consumer demand for companies adhering to sustainable practices, RECs provide a straightforward way for companies to align with market expectations and comply with environmental regulations.
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  4. Foundation for Further Decarbonization: Introducing RECs as our first product sets the stage for more comprehensive decarbonization efforts. They offer a simple yet effective way for companies to move towards a more sustainable operation, opening the door to additional decarbonization strategies.

Looking Forward

We understand that tackling climate change requires a multifaceted strategy, one that combines immediate actions with long-term planning and execution. While RECs are one important piece in helping companies move towards a more sustainable future, they represent just the beginning for Permilyon. As we move forward, Permilyon will continue to develop and introduce tools and services that empower businesses to integrate decarbonization into their core operations, driving both economic and environmental benefits. Our platform will support businesses through every step of their decarbonization journey, from prioritizing solutions to procurement, implementation, and review.


Interested in exploring RECs for your company? Sign up to learn more.

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