Yes.

Bitcoin production still has a long way to go before it can claim 100% renewable energy production. The I-REC you purchase contributes to the global development of renewable energy, and specifically the urgent need for additional renewable energy to supply the grid that powers bitcoin production in China.

Mining each bitcoin requires 270MWh! the equivalent energy consumption required to light up the average home for 83 years!

Most ‘mining’ facilities in Bitcoin’s network are located in regions (primarily in China) that rely heavily on coal-based power (either directly or for the purpose of load balancing). To put it simply: “Coal is fueling Bitcoin” (Stoll, 2019).

Renewable Energy Certificates (RECs), are proof that energy has been generated from renewable electricity sources such as solar or wind power. Each REC represents 1MWh of renewable energy generation and the purchase of RECs is the only way to verify the ownership and usage of renewable electricity placed on the grid. Once electricity enters the grid it is impossible to distinguish where or who owns the rights to that specific unit of power. With RECs however that is different as it tracks electricity from the point of production to the point of consumption. When you purchase or procure RECs it is guaranteed that the corresponding, renewable electricity, has been generated and that this electricity is your property. As more and more people purchase RECs the larger the market signal to create renewable electricity.

Yes.

Bitcoin production still has a long way to go before it can claim 100% renewable energy production. The I-REC you purchase contributes to the global development of renewable energy, and specifically the urgent need for additional renewable energy to supply the grid that powers bitcoin production in China.

Each I-REC will have a link to the specific renewable energy plant where any plans for developing renewable energy will be elaborated. Any current renewable energy subsidies can be focused on new areas of renewable energy development.

Yes, of course - given the rapid increase in sustainability/social responsibility components of investments globally, it is firmly in the interest of the Green Bitcoin miner and Bitcoin brokers. The whole intention of RECs is to drive towards a 100% renewable energy market.

An energy attribute certificate (EAC) is the generic term for all types of RECs. EAC systems prevent the double sale or consumption of the REC for a specific identifiable unit of electricity. All consumption of energy attributed to an EAC should have the associated EAC cancelled, as there are no other means to ensure the prevention of double issuance or claiming. This applies to all electricity contracts including power purchase agreements (PPAs). An EAC, such as the guarantee of origin (GO) in Europe, is a unique electronic certificate, and is generated within an electronic registry and consequently traded via the owners of these registry accounts. At the end of its life cycle, the EAC must be cancelled by a consumer or their representative (such as a power supplier), so that it cannot be used (and disclosed or claimed by another consumer).

The attributes of an REC are facts which, in most well-developed EAC schemes, are specified through data fields on: 1. the technology used to generate the energy (e.g. solar PV, combined cycle gas turbine) 2. the underlying energy source, if any (e.g. gas, coal) 3. the start and end dates of production 4. the identity and location (e.g. a unique identifying number) 5. the capacity of the generating installation (in megawatts or gigawatts) 6. the year the generating installation was built 7. the date on which the generating installation became operational 8. if the installation received public support (e.g. feed-in-tariff, investment support).

When buying tracked energy, an end-user can choose what type of energy they want to consume, and can thereby provide a signal to the market to generate more of their chosen type of energy. Furthermore, the price for a specific energy product may increase when that product is in greater demand. This could result in more motivation among developers to bring more of the in-demand type of generation online.