Google: LevelTen Energy sets up carbon-free energy marketplace

Renewables transaction company LevelTen Energy has set up a marketplace for time-based energy certificates to support renewable energy commitments around he clock. The GC Trading Alliance, supported by Google, Microsoft, and others, will be a platform to exchange "granular certificates" that verify the time and place where carbon-free energy is generated.

LevelTen CEO Bryce Smith in a blog, "To say this is an exciting moment is an understatement. This platform will provide market signals that will optimize the dispatch of existing carbon-free generation, and fuel investments in new assets that current market signals do not reach."

Smith added, "As industry-wide support coalesces around GCs, it will take a vibrant ecosystem of partners to support GC market development and deliver environmental legitimacy at scale. Accomplishing this will require a user-friendly platform that delivers standard contracts and price transparency while providing settlement, delivery, and tracking functionality. In other words, a transparent market for verified GCs."