Enact powers renewable energy innovation with Oracle Blockchain
The solar energy company turns to OCI Blockchain Platform to help make solar energy more attainable and affordable for customers.
“The Enact software platform, using Oracle Blockchain technology, was designed to enhance and simplify solar ownership for customers. Additionally, the platform can certify energy production, asset performance, and related carbon or financial benefits of a project, thereby increasing its monetizable value. Renewable Energy Certificates (RECs) have been around for decades, and we are witnessing significant growth in this market. With the Enact platform, our customers now have the opportunity to participate in this expanding market.”
Enact software helps customers streamline their renewable energy projects and enjoy sustainable energy benefits. In an effort to reduce transaction costs and increase transparency about carbon credits, Enact decided to adopt Oracle Blockchain technology on Oracle Cloud Infrastructure (OCI). Using Oracle's scalable and permissioned blockchain platform, Enact tracks energy generation and creates verifiable renewable energy certificates (RECs). These certificates help offset the cost of solar installations via tradeable certificates between buyers and energy asset owners. Enact customers offset the costs of installing solar by selling verifiable solar RECs through the Western Renewable Energy Generation Information System. Overall, Enact is helping more people find ways to save on utility bills and contribute to a more sustainable future.