PowerRegistry improves the verification and tracking of renewable energy by increasing transparency for the entire market, reducing settlement times for the generator, and providing customers control over their energy portfolio.
The Problem
The tracking and settlement of renewable energy is expensive and slow. The infrastructure needed to maintain market integrity - from verifying generation to auditing ownership and title - consumes about 15% of the underlying value of the renewable energy certificate.
In addition, the process takes an average of 95 days from the date of generation to financial settlement.
The Solution
PowerRegistry eliminates the need for complex administration. Instead PowerRegistry uses distributed ledger technology (DLT) to provide an efficient and error-proof platform for generators, customers, and 3rd party intermediaries to easily settle and track transactions in real time.
This offers the markets three important benefits. It streamlines the chain of custody for the transaction, improves transparency in the marketplace, and harmonizes the highly segmented markets by consolidating them to a single network.
PowerRegistry is proudly built on Corda; R3’s powerful enterprise-grade DLT platform.
About Us
In 2015, John Friskel began thinking about how distributed ledgers could improve customer choice and streamline the administrative infrastructure of the US REC markets designed to protect against double-spending. At the time however, the first generation of distributed ledgers made fundamental design tradeoffs which were inappropriate for the highly regulated energy markets.
A year later, R3 introduced the Corda platform. Corda presented a new way of thinking about enterprise applications of distributed ledgers which was fit-for-purpose to the highly regulated financial markets. Corda utilizes the same public-key encryption, digital signatures, and hash-linked data structures as the revolutionary first generation distributed ledgers but was designed from the ground up to manage real-world transactions between identifiable parties with enterprise-grade privacy and legal certainty. In Corda, John recognized the platform solved for the same set of problems he was wrestling with in the energy markets. An idea was born.
The result is PowerRegistry: an independent and automated distributed ledger-based renewable energy registry and tracking system that receives data on renewable energy generation, creates merchantable renewable energy certificates, tracks those certificates through the chain-of-custody from generation to retirement, and allows for efficient reporting and transparent auditing of the market. Welcome to the next generation of renewable energy markets.
John Friskel
CEO, Founder
John has spent 13‐years working in the U.S. renewable markets. Having served the market as a broker and project originator for two leading renewable energy firms, he has deep experience navigating the industry's mid‐and‐front office pain points. John Friskel also has experience in customer facing sales when he helped to build this market from the ground‐up during the early days of the U.S REC markets.
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