Right now, renewable energy producers–like solar arrays, hydroelectric dams, and wind turbines–track the amount of energy they produce and record the results by hand.
Then, those results then go into a spreadsheet.
Next, the spreadsheet gets sent to a certifying agency that can take weeks to certify the records.
Finally, if the agency finds the results to be accurate, they issue green energy certificates that the energy company can then sell on the open market.
Once on the open market, energy consumers and producers try to find one another to trade certificates, but the process is clunky.
This entire process could be simplified using the blockchain. Instead of sending spreadsheets to a certifying agency, the electricity meter at the power station could record directly and instantly to the blockchain.
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