M-RETS and WREGIS have been around since 2006 and 2007 respectively. They are both US-based energy attribute tracking systems. Funny enough, WREGIS is working based on M-RETS. So it is safe to say most of the RECs that have been issued, transferred, and retired have been managed by M-RETS. Despite the fact that they have been around, have they been able to move the market in a meaningful way? How many of the day-to-day products that you are using can give you an estimation of their carbon footprint?
As the energy market evolves, we have to keep up with the times and the technology. We have to find a way to make the energy attribute tracking system more effective and efficient. For example, if 45V is introduced, these registries have to be able to offer it to the market before the tax credit becomes effective.
To be effective, a solution needs to be able to go beyond the certificate. An ideal solution should cover tax credit compliance and make sure the business is aligned with local and federal regulations—something that is really missing in the current solution.