How registry APIs will transform the EAC markets
As the Guarantees of Origin (GO) market grows and becomes more complex, registries are evolving to increase their capabilities. While most registries offer basic functionalities, such as showing your inventory and transaction history of activities done through the registry, a growing market has growing needs. GO market participants – including producers, retailers and traders – now need more sophisticated functionalities to support increasingly-complex trades. Some registries offer APIs, which allow you to connect third-party tools to registries and streamline your workflow.
What is an API?
An API (application programming interface) is a programming interface that allows companies to give third-party applications access to their data and functionalities. For example, Facebook’s API allows developers to use data and functionalities collected from the platform to analyze data, manage ads, and even log into their website. Within a renewable energy market context, APIs allow third-party platforms to access data from registries and carry out actions or gather information. Many web applications across industries already offer APIs and the GO market’s sudden growth is now catalyzing national registries to move in the direction on APIs. Today, not all registries offer APIs, leaving market participants to rely on siloed tools like spreadsheets, and manual work.
How APIs change the GO market
APIs enable GO market participants to use tools for new and unique functionalities. In addition to the functionalities registries already offer, GO market participants using API-powered registries can connect to the registry from the CerQlar platform and enjoy the following functionalities:
- Synchronize your inventory in real-time An API enables automatic synchronization of the inventory displayed in the CerQlar dashboard.
- Perform actions on your inventory Depending on the API, some registries allow you to take action directly from the platform. Additionally, some actions can be taken on the CerQlar platform that are not possible at all from the registry – such as managing the inventory, assigning certificates to specific trades, marking certificates for future transfers, and more.
- View their entire inventory from a single platform Many GO market participants hold active accounts across a multiple registries. This can make it difficult to keep track of inventory and trades, as each registry only displays the inventory and transactions that take place within that specific registry. By integrating with CerQlar and sharing data across APIs, users will be able to access a full-picture view of their entire inventory – across all registries.
While CerQlar integrates seamlessly with API-enabled registries, you can also manage your inventory from registries that don’t have an API. This allows you to consolidate your data in one place in one standardized and normalized view. Simply download your inventory file from the registry and upload it to the platform.
CerQlar’s platform is designed to streamline the renewable energy certificate trading process by automating some of its most complex procedures and offers features such as trade capturing, inventory management, and more to help you optimize your workflow.
So even if your registry doesn’t offer an API, you can still enjoy the benefits of CerQlar. Get in touch with us today to find out how CerQlar can help you take your GO trading to the next level.