The renewable energy producers’ and suppliers’ guide to choosing an EAC management platform
Managing EACs can be a complex and time-consuming process that requires a thorough understanding of regulatory compliance and market conditions and which can divert attention from core business activities. Fortunately, platforms like CerQlar provide technology that can simplify the process, saving time and ensuring accuracy through a range of features and a secure, user-friendly interface.
Choosing the right EAC management platform is critical for renewable energy producers and energy suppliers, as it can significantly impact their ability to navigate the complex EAC market. In this blog post, we will provide a comprehensive guide to assist organizations in selecting the most suitable EAC management platform for their unique needs. By following these guidelines and selecting a reliable EAC management platform, businesses can simplify EAC management, ensure compliance, and focus on their core business objectives.
Learn how one of Italy’s leading renewable energy providers is changing the way GoOs are settled using CerQlar
Identify your organization’s needs
Identifying your organization’s needs is a critical step in selecting the right EAC management platform for your renewable energy production or energy supply/retail business. When it comes to renewable energy producers, the size of your organization and the number of facilities you have will play a significant role in determining your certificate management requirements. If you have a single facility, a platform that manages EACs for a single facility may be sufficient. But, if you have multiple facilities or hold certificates from various registries, you may need a solution that can manage certificates with a broader scope.
Similarly, for energy suppliers/retailers/utility companies, the size of your customer base and the number of EACs you need to manage will be critical in identifying your EAC management needs. For example, a small utility company with a limited customer base may only require basic functionalities of an EAC management platform, with a stable trade book upload and a clear overview of their transactions, whereas a larger utility company with a vast customer base and a high volume of EACs will require a comprehensive management solution.
It’s also essential to consider the level of complexity involved in managing your renewable energy certificates (RECs). Some organizations may have specific requirements, such as managing RECs from different types of renewable energy sources, that will require a platform with specific features to meet those needs.
By taking the time to identify your organization’s specific certificate management needs, you can ensure that you choose a platform that meets your requirements and can help you achieve your sustainability goals.
Evaluate the platform’s features
After identifying your organization’s needs, the next step is to evaluate the features of different platforms. Here are some key features to consider:
- User-friendly interface: Choose a platform with an intuitive and easy-to-use interface that allows you to navigate and manage your energy certificates easily.
- Automated tracking: Look for a platform that offers automated tracking of EACs, which can save you time and reduce the risk of errors.
- Compliance reporting: Make sure the platform provides compliance reporting features that allow you to generate reports that meet regulatory requirements.
- Third-party integration: Evaluate whether the platform can integrate with other third-party platforms, such as accounting or energy management software, to streamline your operations.
- Security measures: Ensure that the platform has strong security measures in place to protect your data and prevent unauthorized access.
- Connectivity with registries: Make sure to choose a platform that provides services to the registry or registries you conduct your trading on. Ideally, a platform should support multiple registries, such as Germany’s UBA (HKNR), Statnett/NECS, VREG, or more.
- Uniform data and a single source of truth: A reliable EAC management platform should provide a centralized and unified database for your energy certificates. Having a single source of truth eliminates data inconsistencies and ensures that all stakeholders access accurate and up-to-date information, streamlining your business operations.
Consider your budget and the solution’s pricing and support
When evaluating energy certificate management platforms, it’s important to consider pricing and support to ensure that you’re getting the best value for your organization. Here are some things to keep in mind:
- Different EAC management platforms may have different pricing structures, such as subscription-based models, pay-per-use models, or a combination of both.
- Consider how much you’re willing to spend on a management platform and whether the platform’s pricing structure aligns with your budget. Keep in mind that the right platform will end up saving you time and money so it may be an investment at first, but it is worthwhile once you start using it.
- It is also important to recognize the long-term benefits and cost savings that an efficient platform can bring to your organization. The right platform not only saves you time and money by automating tasks and reducing errors, but it also empowers you to make data-driven decisions, enhances your sustainability efforts, and strengthens your reputation as a responsible and environmentally conscious business. Make sure to weigh up these benefits as well when designating a company budget for a renewable energy management solution.
- Be sure to take into account any additional costs, such as implementation fees, customization fees, or support fees.
- Look for a platform that provides excellent customer and tech support to ensure that you receive the help you need when you need it.
- Onboarding assistance is particularly important, as it can be challenging to transition to a new platform without guidance.
- Access to educational resources, such as user manuals, tutorials, or webinars, can be helpful for learning how to use the platform and get the most out of its features.
Ensure compliance with regulations
When selecting an EAC management platform, it is crucial to ensure that it is compliant with relevant regulations and certifications to ensure that your organization is not exposed to any legal or reputational risks.
Try to find a REC management platform that is compliant with regulations that apply to your location to avoid legal ramifications. Certification from recognized organizations like RED, IREC, and Green-e, or membership to organizations such as AIB or RECs can help you identify platforms that meet the highest standards of environmental and social responsibility.
Additionally, some platforms may offer additional features to help ensure compliance, such as automated tracking. Make sure to evaluate these features and more to ensure the platform you choose meets your organization’s specific needs.
How CerQlar meets market needs
CerQlar is an EAC management platform designed to meet the needs of renewable energy producers and energy suppliers. The platform offers a user-friendly interface that allows for easy management of EACs, including automated tracking, seamless connection to third-party solutions, and support for a variety of registries.
These features allow users to engage in complex trades, plan future trading strategies, and monitor their portfolios.
In terms of pricing and support, CerQlar offers a transparent pricing structure based on the number of EACs managed, making it easy to align with your budget and easy to scale as needed.
CerQlar clients also benefit from personal customer support, including onboarding assistance, technical support, access to educational resources, and a dedicated account manager.
Start your sustainability journey with CerQlar
Choosing the right EAC management platform is a crucial step in your organization’s sustainability journey. By identifying your organization’s needs, evaluating platform features, considering pricing and support, and checking for compliance with relevant regulations, you can select a platform that meets your specific requirements and helps you achieve your sustainability goals.
CerQlar is a platform that fits the needs of renewable energy producers and energy suppliers, offering a user-friendly interface, compliance with relevant regulations, and comprehensive customer support. Choose CerQlar to manage your EACs with ease and contribute to a more sustainable future as you scale your business.