20240046280. METHOD AND SYSTEM FOR CARBON ACCOUNTING UTILIZING BLOCKCHAIN TECHNOLOGY simplified abstract (Empower Energy Technology L.L.C.)

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METHOD AND SYSTEM FOR CARBON ACCOUNTING UTILIZING BLOCKCHAIN TECHNOLOGY

Organization Name

Empower Energy Technology L.L.C.

Inventor(s)

Mark Bell of Atlanta GA (US)

Thatcher Young of Marietta GA (US)

John Scarborough of Salt Springs FL (US)

METHOD AND SYSTEM FOR CARBON ACCOUNTING UTILIZING BLOCKCHAIN TECHNOLOGY - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240046280 titled 'METHOD AND SYSTEM FOR CARBON ACCOUNTING UTILIZING BLOCKCHAIN TECHNOLOGY

Simplified Explanation

The patent application describes a carbon accounting system that utilizes a blockchain platform to collect and analyze energy data for the purpose of calculating carbon emissions. The system includes a data receiving arrangement to collect energy data from an energy data collection apparatus, such as a smart meter. The energy data is then aggregated with other energy data to form aggregated energy data using a data aggregation processor. The aggregated energy data is transferred to a blockchain platform, which shares the data and performs carbon accounting on the blockchain. The system also has the capability to collect energy data in real-time and automatically convert renewable energy credits (RECs) into non-fungible tokens (NFTs).

  • The system collects energy data from an energy data collection apparatus, such as a smart meter.
  • The collected energy data is aggregated with other energy data to form aggregated energy data.
  • The aggregated energy data is transferred to a blockchain platform for sharing and carbon accounting.
  • The system can calculate carbon emissions and collect energy data in real-time.
  • The blockchain platform can automatically convert renewable energy credits (RECs) into non-fungible tokens (NFTs).

Potential applications of this technology:

  • Carbon accounting and emissions tracking for businesses and organizations.
  • Monitoring and optimizing energy consumption and efficiency.
  • Verification and certification of renewable energy sources.
  • Trading and incentivizing renewable energy credits.

Problems solved by this technology:

  • Lack of transparency and trust in carbon accounting and emissions reporting.
  • Difficulty in tracking and verifying renewable energy sources.
  • Inefficient energy consumption and lack of optimization.
  • Complex and time-consuming process of converting renewable energy credits.

Benefits of this technology:

  • Enhanced transparency and trust in carbon accounting and emissions reporting.
  • Improved tracking and verification of renewable energy sources.
  • Increased energy efficiency and optimization.
  • Streamlined and automated conversion of renewable energy credits.


Original Abstract Submitted

a carbon accounting system including a data receiving arrangement configured to receive energy data from an energy data collection apparatus; a data aggregation processor configured to aggregate the energy data with other energy data to form aggregated energy data; and a data communicator configured to transfer the aggregated energy data to a blockchain platform. the blockchain platform is configured to share the aggregated energy data and perform carbon accounting on a blockchain. carbon emissions may be calculated and the energy data may be collected in real-time. the energy data collection apparatus may include a smart meter. the blockchain platform may be configured to automatically convert renewable energy credits (recs) into non-fungible tokens (nfts). an exemplary method of accounting for carbon emissions is provided.

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