I-REC: What is it?
I-REC is a type of Energy Attribute Certificate (EAC) issued to certify a certain amount of electricity generated from renewable energy sources (1 I-REC represents 1 megawatt-hour of renewable electricity). Currently, in addition to I-REC, the global EAC system also includes two other types of renewable energy certificates: Guarantee of Origin (GO), used in the European Union energy market, and Renewable Energy Certificates (REC), used in the energy markets of the United States and Canada. I-REC is used in countries and regions that do not have a green energy certification system, such as Africa, Asia, South America, etc. Additionally, some countries like Australia and Japan have their own certification systems.
I-REC ensures that renewable energy is produced and consumed in a certified manner on a specific grid or location. Businesses and organizations can purchase these certificates to avoid using energy from non-renewable sources and reduce carbon emissions.
I-REC provides a flexible solution for organizations and businesses that are unable to directly produce or consume renewable energy. Furthermore, using these certificates also helps increase access to renewable energy sources, encouraging investment and global development of renewable energy.
Around the world, many countries have implemented the I-REC certificate system to promote the consumption and development of renewable energy. Currently, I-REC has been deployed in over 30 countries worldwide, including Vietnam.
Basic Attributes of I-REC:
- Certificate data
- Certificate type
- Unique identification number of the certificate
- Tracking system ID
- Type of renewable fuel
- Location of renewable energy production
- Project capacity
- Emission ratio of the renewable energy source
- Renewable standard profile
- Grid information and connection system
Benefits of I-REC
Vietnam, along with many other countries, is striving towards a green energy transition with the aim of achieving net-zero emissions. I-REC serves as a certificate that can evidence this transition. The more I-REC certificates are issued and exchanged, the more it demonstrates that the energy source is shifting towards cleaner and more sustainable options. I-REC is a recognition of the contribution to energy transition and a significant resource to further promote the investment and utilization of renewable energy in socio-economic development.
Complying with the buying, selling, and trading of I-REC can lead to:
- Increased capacity and production efficiency of plants, factories, and companies
- Enhanced consumer trust when choosing products produced from renewable energy sources
- Cost reduction or limitation in implementing green energy transition
- Reliable recording of renewable energy consumption and greenhouse gas emission reduction requirements
- Tracking the origin of electricity and choosing between different technologies such as solar energy, wind power, hydroelectricity, geothermal energy, or bioenergy
- Compliance with environmental company standards, such as greenhouse gas protocols
- Complying with national regulations on renewable energy and improving your sustainability rating
- Contributing to the United Nations’ Sustainable Development Goals
How to register or buy I-REC in Vietnam?
You can register for I-REC through the International REC Standard Organization (I-REC Standard) or their partners: https://www.irecstandard.org/about-us/
Alena Energy Co., Ltd. is a pioneering company in the procurement of RECs
Alena Energy Co., Ltd., the official partner of I-REC Standard, is at the forefront of procuring Renewable Energy Certificates (RECs) in Vietnam. As the company serves large customers with a potential demand for millions of RECs annually, Alena is eager to collaborate with renewable energy plants in REC procurement transactions. The company is also authorized to provide services related to Renewable Energy Certificates (RECs), including registration, purchase, sale, and use of RECs worldwide.