Macau Carbon Exchange (MCE) Achieves First Successful I-REC Green Certificate Transaction for Brazilian Household Solar PV: Blockchain Technology Drives Green Power Market Development

Macau Carbon Exchange (MCE) Achieves First Successful I-REC Green Certificate Transaction for Brazilian Household Solar PV: Blockchain Technology Drives Green Power Market DevelopmentOn January 10th, the Macau International Carbon Emission Rights Exchange (MCE) officially announced the successful completion of its first international green certificate (I-REC) transaction for Brazilian household solar photovoltaic (PV) systems. The green electricity represented by these certificates originates from household PV projects in Paran, Brazil, marking the formal integration of the vast global household PV market into the green electricity trading system

Macau Carbon Exchange (MCE) Achieves First Successful I-REC Green Certificate Transaction for Brazilian Household Solar PV: Blockchain Technology Drives Green Power Market Development

On January 10th, the Macau International Carbon Emission Rights Exchange (MCE) officially announced the successful completion of its first international green certificate (I-REC) transaction for Brazilian household solar photovoltaic (PV) systems. The green electricity represented by these certificates originates from household PV projects in Paran, Brazil, marking the formal integration of the vast global household PV market into the green electricity trading system. This transaction's uniqueness lies in its full utilization of blockchain technology, achieving a fully digitalized process from electricity information registration to green certificate trading, significantly shortening the transaction cycle.

Traditional green certificate registration methods largely rely on "offline" or "semi-automatic" modes, depending on manual registration or extracting power generation information from the power system backend. This results in questionable data authenticity and reliability. For household PV projects scattered across rooftops, the data registration and verification costs are often prohibitively high, exceeding the green certificate trading revenue and hindering the active participation of household PV systems in the green electricity market.

However, this transaction broke the limitations of traditional models. The project cleverly connected the blockchain system with the registration and issuance system of the green certificate issuer, enabling real-time collection, transmission, calculation, and certification of green electricity data. Utilizing AntChain blockchain and IoT technologies, the system ensures data authenticity, integrity, and traceability, effectively reducing the audit costs for certification bodies and laying a solid foundation for transparent green certificate management and trading. The entire process, from electricity information registration to green certificate transaction completion, took only about a week, significantly less than the previous month or even longer cycle.

This technology application not only significantly improves green certificate trading efficiency but also injects new vitality into the booming global distributed PV market. The International Energy Agency (IEA) predicts that by 2030, new solar installations will account for 80% of renewable energy growth, exceeding 4000 GW. While utility-scale solar will dominate, distributed applications (including residential, commercial, industrial, and off-grid projects) are projected to contribute nearly 40% of new installed capacity. This signifies the enormous potential of the global distributed PV market, and MCE's successful transaction will significantly propel its further expansion.

This household PV international green certificate transaction project was developed by Yingzhen Technology's household PV power plant project in Paran, Brazil. REDEX was responsible for green certificate registration, and GreenCertificateCompany (GCC) handled the issuance. GCC is an I-REC(E) central issuer recognized by the ITRACK (International Tracking Standard) Foundation, and the international I-REC green certificate is one of the most widely recognized and accepted energy certificate standards globally. A green certificate, or renewable energy certificate (REC), is the "electronic ID card" for renewable energy green electricity, with each certificate representing one megawatt-hour (1000 kWh) of green power generation. Against the backdrop of the global push for carbon neutrality, green electricity trading has become a crucial means of incentivizing renewable energy development. Energy companies can purchase green certificates to offset anticipated carbon emissions and commodity export carbon tariffs.

This successful transaction provides a feasible demonstration for global household PV projects to participate in green electricity trading. Through the application of digital technologies such as blockchain and the Internet of Things (IoT), future decentralized household PV projects will be more easily integrated on a large scale, with significantly shortened issuance cycles and potentially real-time issuance. This not only provides household PV generators with a more convenient and efficient revenue pathway but also offers crucial technological support for the global green energy transition.

MCE stated through its official WeChat account that this successful transaction marks a key step in the application of blockchain technology in the green electricity trading field. In the future, as the technology matures and its application expands, more small-scale renewable energy projects will be effectively integrated into the green electricity trading system, thereby promoting the sustainable development of global green energy.

The establishment of the green certificate system aims to promote the development of renewable energy. By purchasing green certificates, companies can demonstrate that some of their electricity consumption comes from renewable sources, thus reducing carbon emissions and meeting increasingly stringent environmental regulations. For developing countries, green certificate trading can attract more capital into the renewable energy sector, promoting local economic development and environmental protection.

The success of MCE's transaction is not only significant for Brazil's household PV market but also provides valuable experience for other developing countries. The application of blockchain technology solves the problems of data registration and verification for household PV projects, reducing transaction costs and improving efficiency, creating conditions for more small-scale renewable energy projects to participate in the green electricity market.

Looking ahead, with the continuous development and application of blockchain and other technologies, the green electricity trading market will become more complete and standardized, contributing more to the global energy transition and the achievement of carbon neutrality goals. MCE, as an important trading platform, will undoubtedly play a greater role, leading the global green electricity trading market towards a greener, more efficient, and transparent direction. Through this transaction, MCE has demonstrated its positive role in promoting the development of global green energy and provided a benchmark for other carbon emission rights exchanges.

The success of this transaction also reflects the importance of international cooperation in promoting the development of global green energy. The ability of Brazilian household PV projects to trade through MCE's platform is a result of the cooperation between China and Brazil in the green energy field. In the future, further strengthening international cooperation to jointly promote the development of global green energy will be crucial to achieving global carbon neutrality goals. We believe that with the joint efforts of all parties, more similar successful cases will emerge in the future, contributing to the development of global green energy.