Dubai PR Network, Online Press Release from Dubai and Middle East
 
(Energy and Industry)
Filter PR by
  
Consumers in UAE Can Now Claim the Use of Renewable Energy with I-RECs
 

Dubai Carbon has become the local issuer of International Renewable Energy Certificate Standard (I-REC Standard) allowing end-users validate renewable energy consumption

Dubai, United Arab Emirates: Dubai Carbon has signed an agreement with I-REC Standard, the international organisation that facilitates robust attribute tracking systems for the reliable procurement of renewable electricity, thus becoming the exclusive local issuer of RECs in the UAE, it was announced today.

Dubai Carbon in association with the Netherlands-based non-profit firm will now provide a standard for energy attribute tracking systems that can be easily implemented and used by end-users in the UAE. This will also allow all consumers access to internationally recognised and tradable and Renewable Energy Certificates (RECs). The RECs are the only way within the UAE to prove ownership to the environmental and economic benefits of the procured renewable energy. 

Aimed at developing and implementing a voluntary market for RECs in the region, the agreement was signed following discussion initiated by Dubai Carbon with the Netherlands-based non-profit firm.

The I-REC attribute tracking Standard supports tracking compliance with governmental renewable energy requirements, as well as voluntary consumers to track and verify progress towards their environmental goals. This allows all I-REC Standard participants, the ability to track attributes of renewable electricity production from its location of generation to its place of consumption.

The tracking includes environmental, economic and GHG attributes, which at the time of REC cancellation, are the exclusive ownership of the consumer, or group of consumers. It also creates the foundation upon which electricity consumer claims can be made, particularly, those related to Scope 2 carbon accounting (GHG emissions from the generation of purchased electricity) or proof of individual renewable electricity consumption.

Explaining how the I- REC Standard works, Mr Waleed Salman, Chairman, Dubai Carbon said, “Electricity produced from different power plants are fed into the main grid, which then makes it impossible to identify the source of energy a consumer is using. The I-RECs will be issued to energy generator by Dubai Carbon, once they generate clean energy from a single generation facility. These can be purchased or procured by end users to validate their renewable energy consumption. I-RECs serve as the ‘currency’ for renewable energy markets, and will support renewable energy projects in the UAE.”

“Clean energy has truly moved from being a trend followed by some organisations, to becoming a real energy solution that provides a plethora of benefits to individual consumers and organisations. So the end users are ready to pay for electricity that is produced using renewable energy sources, that allows them to enjoy any benefit provided by the government, as well as contribute to the growth of renewable energy sector,” he added.

I-RECs are issued to the generator's account, or to the account of an appointed representative. Market participants who have accounts with the tracking systems can transact the I-RECs. They are the only credible way of selling and buying renewable energy, it’s like banking once sold, I-RECs can only reside in one account at a time.

Jared Braslawsky, Director of the  I-REC Standard commented, “We are thrilled to see how the UAE is working towards improving renewable energy policies. I-REC provides standard for energy attribute tracking systems that can be easily implemented so that consumers in all regions of the world can have access to internationally recognised renewable energy certificates. By procuring I-RECs, companies and individuals can support impactful renewable projects and drive the transition to renewable energy on a global scale,”

The International REC Standard (I-REC Standard) is a non-profit foundation with the goal of empowering electricity purchasers with the ability to make renewable consumption choices in any region of the world. The I-REC Standard is based in the Netherlands. The work of the I-REC Standard is financed by individual donations and market players and local issuers who use the I-REC Standard attribute tracking system.

Posted by : Dubai PR Network Editorial Team
Viewed 2214 times
PR Category : Energy and Industry
Posted on : Monday, March 27, 2017  1:56:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Future Cities Show 2017 to Bring Smart Energy Solutions to t...
Next Story : Schneider Electric Mentors University of Southern California...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Grand Optics exclusive: Le Specs eyewear collection LUXE Nucleus [12853-Views]
Grand Optics exclusive: Le Specs Eyewear Collection Escape to the Exotic [11675-Views]
Grand Optics Exclusive: MARNI eyewear collection [10370-Views]
Fun City launches the first ever Play Membership in the GCC! [10156-Views]
Introducing Parfums De La Bastide, an Artisanal Maison de Parfum inspired by Provence. [10138-Views]
Chaumet - Imperial Splendours, The Art of Jewellery Since the 18th Century [9730-Views]
From a House to a Smart Home: LG Smart Technology Helps Make Homes More Comfortable and Sa... [9577-Views]
GKhair celebrates 10 years of success at Beautyworld Middle East [8473-Views]
Gold Collagen® to Launch in Dubai, May 2017 [8418-Views]
Dubai's largest Ramadan Night Market is Back! [8143-Views]
Lexus Unveils All-New LC luxury Coupe to Open a New Chapter in Brand History [7344-Views]
Aab Modest Wear Launches in the UAE [7222-Views]
Hello Summer! Bershka launches its swimwear collection for Men and Women [6759-Views]
Kiko Milano Launches Tropic Heat - A Collection Full of Energy, Colour and Vibrancy [6759-Views]
LG showcases a future of multiple savings with trendsetting smart homes [6692-Views]
Doha Bank Wins “Best Regional Commercial Bank” at Banker Awards 2017 [6423-Views]
Crown Prince and Deputy Ruler of Sharjah inaugurate the new Medcare Hospital in Sharjah [6374-Views]
Azraq, the world's first refugee camp powered by renewable energy [6246-Views]
UAE Team Emirates Retain Blue Jersey [6222-Views]
Monsoon and Accessorize have it covered for Ramadan 2017 [6204-Views]
International beauty brands line up wide range of product launches at Beautyworld Middle E... [6051-Views]
Celebrate the Joy of Ramadan with IKEA'S Latest Collection [5893-Views]
Stunning New Collections from Jaguar and Land Rover [5832-Views]
Wella Koleston: Get ready for an Eid celebration that shimmers bright with color! [5813-Views]
Beautyworld Middle East 2017 opens with 11.5 per cent year-on-year growth featuring 1,580 ... [5746-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories