Financiers for a US-based clean energy, energy efficiency and water conservation project have selected Spring Labs to develop a blockchain-enabled registry which will help them assess or track the status of their programmes.
Ygrene Energy Fund California, Renovate America, Energy Efficient Equity and PACE Funding Group, financing providers of the Property Assessed Clean Energy (PACE) programme will use the new registry to access PACE assessment information.
This will enable the funders to proactively comply with recent laws and regulations regarding PACE assessment tracking.
Stephen Tich, COO at Ygrene, said: "Having the ability to query a registry of PACE financing applications and assessments in real-time represents an enhancement for the industry.
"This registry will further enable the PACE industry to offer the most comprehensive and flexible clean energy financing solutions, benefiting our contractors and customers."
Michael Mildenberger, CRO at Renovate America, added: "The registry will improve the overall experience for our homeowners and contractors and deliver greater efficiency for Renovate America and the other PACE providers."
PACE provides residential, commercial and industrial property owners with funds to implement energy efficiency, water conservation and renewable energy upgrades to reduce utility bills, carbon emissions as well as to create more jobs in the clean energy industry.