New ‘green credit’ scheme for consumers to offset carbon emissions from their electricity usage

SINGAPORE — Consumers may now buy “green credits” through Singapore Power (SP) to offset carbon emissions tied to their electricity usage. 

In a statement on Thursday (Oct 1), the company said consumers can now purchase Renewable Energy Certificates (RECs) on its mobile app under the My Green Credits function.  

RECs represent the electricity generated by renewable sources. The concept is similar to carbon emissions trading but instead of dealing with tons of avoided carbon, megawatt hours are traded.

In addition to their usual bill payments, consumers can choose to “green” any proportion of their monthly electricity consumption and choose which renewable energy project that they wish to support.

After a purchase is made, a certificate will be generated indicating the estimated amount of carbon dioxide emissions the consumer has avoided.

SP is the first authorised local issuer of the International Renewable Energy Certificates in Asia Pacific. 

The company said in its statement that it is covering 100 per cent of the electricity consumption at its headquarters in Kallang Sector through the purchase of RECs and the company’s management and staff are using the scheme. 

SP Group’s chief executive officer, Mr Stanley Huang, said: “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.”