I-REC Standard to support self-consumption
Self-consumption accounts are becoming increasingly important. Stakeholders and market players expressed their interest in self-consumption through an official I-REC Standard Code Change Proposal.
As a result of this proposal the I-REC Standard board approved the use of self-consumption accounts in their March 2018 board meeting. These self-consumption accounts will allow device owners to redeem certificates on behalf of themselves without these certificates entering a trade account. This will allow consumers who also own generation assets to redeem certificates with significantly decreased efforts and cost.
This policy is intended to support self-generation and the use of attribute tracking mechanisms internationally. While national policy may not always enforce the use of REC certificates, it remains best practice to use these mechanisms as an accounting instrument and allow for third-party audits of claims. This is inline with the GHGP Scope 2 Guidance document, CDP sustainability survey, RE100, and RECS International Renewables Good Practice.
For more information on self-consumption accounts reach out to the I-REC Standard secretariat at firstname.lastname@example.org