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Based on blockchain technology I, REC international green card helps realize the carbon assets of renewable energy power generation projects

Time : 15/05/2022 Author : zh2oau Click : + -
        Since the introduction of the subsidy policy for renewable energy power generation in 2006, through continuous policy support, China's renewable energy power generation industry has grown from scratch and gradually expanded. By the end of 2021, the installed capacity of renewable energy power generation in China has reached 1.063 billion kw, including 328 million kw of wind power, 306 million kw of photovoltaic power generation and 37.98 million kw of biomass power generation. In 2021, the national renewable energy power generation reached 2.48 trillion kwh. Recently, for the long-term development of the renewable energy industry, the national development and Reform Commission, the national energy administration and other nine departments jointly issued the "14th five year plan for renewable energy development", which puts forward the latest requirements for "high-quality leap forward development".
        The plan points out that renewable energy should be developed in a market-oriented manner, from subsidy supported development to affordable development, and from policy driven development to market driven development. At present, it is a general trend to gradually get rid of the support of subsidies as a "crutch". For example, the notice of the national development and Reform Commission on matters related to the new energy on grid tariff policy in 2021 stipulates that the central government will no longer subsidize newly filed centralized photovoltaic power stations, industrial and commercial distributed photovoltaic projects and newly approved onshore wind power projects from 2021. As the support of the national renewable energy subsidy policy continues to weaken, new energy power generation has entered the era of parity or even low price, but for new energy enterprises, it has entered a relatively difficult stage.
        The profit and loss of renewable energy projects are highly sensitive to electricity prices, and the price adjustment policy has a great impact on some renewable energy projects on the edge of profit and loss. Taking a wind farm with an installed capacity of 50000 kW as an example, if the average utilization hours of the wind farm is 2000 hours, its annual power generation is 100million kwh. Assuming that the national wind power on grid price is reduced by 5 points per kilowatt hour, the revenue lost by the wind farm due to the change of electricity price policy is 5million yuan. After the implementation of the renewable energy subsidy retrogression mechanism, the income of a small wind farm will be reduced by more than one million, not to mention the overall losses of those large enterprise groups with installed capacity of more than one million. For new energy power generation enterprises, in order to alleviate the pressure of profitability, what can quickly bring cash flow in the short term is to apply for and list the international renewable energy Certificate (i-rec), and certify the green power generation data as a globally tradable carbon asset.
        The i-rec green electricity traceability system is a widely accepted standard worldwide. The certificate is accepted and recognized by the Carbon Disclosure Project and the climate organization, and can be traded worldwide. Therefore, it is also purchased by world-renowned large enterprises to offset their own non green electricity consumption emissions. However, at present, the i-rec international green certificate is a traditional manual certification method, and its application timeliness The granularity of carbon assets and even the difficulty of distinguishing the true and false certificates are greatly challenged. "As a practitioner in the field of low-carbon technology, Qikun technology, based on the innovative mode of blockchain technology, can submit i-rec international green certificates in batches after digitizing, standardizing and automating the green electricity data of new energy projects, so as to improve efficiency and shorten the application time.
        ”Said Wang Jiayi, vice president of Qikun technology business. Taking a biomass thermal power plant in East China as an example, after completing the uplink and automatic certification of green power generation data in the first half of 2022 through the blockchain technology of Qikun technology, and submitting 50000 international green certificates to i-rec, it was listed on the digital Carbon Asset OTC platform in Hong Kong and completed the delivery with an international energy company in Europe. It is worth noting that, unlike the traditional manual certification mode, the calculation of power generation is based on paper documents such as vouchers and invoices settled with the local power grid. Each i-rec certificate based on blockchain technology can be traced, verified and queried to see the relevant basic information of green power equipment, operation data, power generation data within the corresponding issuance cycle, etc. by increasing information transparency, data objectivity can be ensured, Ensure the standardization, fairness, authenticity and uniqueness of i-rec transactions, and effectively avoid the problems of data fraud and double calculation of green card rights and interests.
        It is reported that at present, a number of renewable energy power generation enterprises, such as wind farms, hydropower, biomass and other power generation projects, have been generating international green certificates through the innovative mode of Qikun technology.
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