Renewable Energy Emissions Score for Crypto Mining

= the Renewable Energy Emissions Score, designed to assess the material impact of renewable energy procurement

URL = https://rmi.org/wp-content/uploads/2022/10/renewable_energy_emissions_score_approach.pdf [1]

Description

Samuel Huestis:

"While energy usage remains high in Bitcoin mining, it is imperative that this energy is clean, sustainable, and additional. To ensure this, RMI developed the Renewable Energy (RE) Emissions Score, designed to assess the material impact of renewable energy procurement. By measuring the emissions impact, as well as the value provided by off-takers of renewable energy, the RE Emissions Score will allow any company, not just Bitcoin miners, to make meaningful claims about renewable energy procurement, prioritizing investment in high emissions areas and low-cost renewable projects. If Bitcoin mining is to continue, it must be powered by additional renewables so that it does not inadvertently increase required grid capacity and lead to more fossil generation.

The RE Emissions Score was born out of a need to allow Bitcoin miners to make quantifiable claims of renewable energy use and investment, but its implications are much wider. Any company currently procuring renewable energy can use this approach to show its commitment to total grid decarbonization. Focusing on the decarbonization of the grid as a whole is vital to any strategy for reducing crypto emissions."

(https://rmi.org/cryptocurrencys-energy-consumption-problem/)