SP Group launches green credits for customers to offset emissions from electricity consumption
SINGAPORE: Electricity users in Singapore can choose to "green" a portion of their energy consumption under a new scheme, SP Group said on Thursday (Oct 1).
Under the initiative, customers can purchase "green credits" and match their electricity consumption with an equivalent amount of energy produced in renewable energy projects.
The scheme, dubbed My Green Credits, can be accessed on the SP Utilities mobile application.
Customers can choose the renewable energy project that they wish to support and the percentage of their monthly electricity consumption to match with green credits. These projects include Katoen Natie's rooftop solar energy facility in Singapore and the Krong Pa solar farm in Vietnam.
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The purchase of green credits will generate a renewable energy certificate, indicating the estimated amount of carbon dioxide emissions that has been avoided.
SP Group said it is the first authorised local issuer of International Renewable Energy Certificates (I-REC) in the Asia-Pacific region. The certificates attribute units of renewable energy generated with unique identifications that can be tracked.
Customers “can be assured of the integrity of each local I-REC issued” given independent accreditation by the I-REC Standard Foundation, the company said.
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“Many in Singapore are keen to make green practices part of their everyday life. However, they may be deterred by relatively high costs and the lack of easy access to green sources on a sustained basis,” said SP Group CEO Stanley Huang.
My Green Credits will allow customers to counter the impact of their electricity consumption and contribute to a “low-carbon, smart energy” Singapore, Mr Huang said.
“We are putting the green power back in the consumer’s hands, in a convenient, affordable and secure way,” he added.
SP Group said that it was covering 100 per cent of the electricity consumption at its own headquarters at Kallang Sector with renewable energy certificates.
The green credit scheme follows the company’s launch of a carbon footprint calculator on its mobile application earlier this year.