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Blockchain-tech launches to help corporates transition to renewables without

Global software as a service (SaaS) company, WePower, has today launched its new ‘Incite’ solution, allowing businesses to track and certify their operation’s sustainability through blockchain-enabled technology, ultimately combatting greenwashing. Australia is first cab off the rank for the Lithuanian-headquartered company’s new product suite.

Global technology company WePower has today announced the launch of its ‘Incite’ software developed to support corporates making the transition to renewable energy. By providing businesses with an overview of the true state of their current energy impact, the company says it’s developed a springboard to help businesses to engage with greener alternatives. “You can’t measure or model what you can’t track,”  WePower’s Chief Customer Officer Huda Olsson told pv magazine Australia.

The enterprise-facing platform is designed to inform, guide and report on corporates’ sustainability strategies by providing an interface to track green energy use while also allowing users to contract additional renewably-sourced power.

Olsson said the company chose to launch the platform in Australia first since it’s a leader “in terms of companies wanting to green.”

While the platform is only visible to the companies using it, the blockchain-based system means the data can be easily shared and transparently certified by auditors, customers or other interested parties, should the company choose.

The blockchain technology, Olsson added, also enables complex bilateral and trilateral commercial engagements to be easily accounted for, making accurate oversight possible.

The dashboard of the Incite platform.

How it works

WePower’s software basically integrates directly with data from users’ smart meters. This gives the company access to live and dynamic data which is then translated onto the Incite dashboard, effectively tracking what portion of operation’s energy was renewably sourced 24/7.

This allows for far more granularity, especially compared to the analogue method of bill validation. “WePower is actually taking it straight from the source,” Olsson said.

The company then uses this data to model and forecast the operation’s consumption, helping them calculate how much additional renewable energy is still to be sourced to meet targets.

This additional renewable energy can then be contract directly through Incite. “It’s a real end to end system,” Olsson said.

PPAs no longer cut it

Olsson describes the days of companies being able to simply use a power purchasing agreement (PPA) as proof of sustainability as “gone”. With increasing scrutiny is being placed on corporates making sustainability pledges and setting renewable energy targets, companies need transparent sustainability reporting methods to prove their words have translated into actions and are more than just greenwashing.

“With the launch of Incite we’re enabling businesses to put substance behind their sustainability pledges by helping them to know precisely where they are on that journey and where they need to invest to improve. It’s only by having this complete picture that realistic KPIs can be set and genuine sustainability progress can be made,” WePower’s Chief Technical Officer, Kaspar Kaarlep, said.

Through the platform, it’s also possible for businesses to map, integrate and ultimately verify their supply chains, though this would require the supplier businesses to also use the software.

From tracking to tokenisation

The platform has five different “modules” (the name WePower has given for levels of services), which begin with a…

Read More: Blockchain-tech launches to help corporates transition to renewables without

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