Metasphere Labs, a Vancouver-based digital agency, unveiled a new initiative designed to accelerate the decarbonization of the electricity grid. The developer of tokenized assets and open metaverse environments is pioneering a carbon credit protocol for grid-scale batteries.
The protocol aims to monetise and quantify the carbon reduction potential of large-scale battery storage systems. These systems play an important role in balancing supply and demand on the electricity grid. This is done by storing extra renewable energy generated during peak production times and releasing it during a high-demand phase or when the renewable output is low. This way the grid-scale batteries reduce the reliance on fossil fuel-based peaker plants that are typically used to meet high demand.
Metasphere’s CEO Natasha Ingram said, “Metasphere is dedicated to driving innovation in the fight against climate change. By developing this carbon credit protocol for grid-scale batteries and integrating it with the Pure Sky Carbon credit registry, we aim to create a transparent and efficient system for carbon accounting and reduction.”
The protocol employs advanced algorithms and real-time data analytics to ensure that the carbon credits issued are based on precise and verifiable emissions reductions. It is scalable making it applicable to a wide range of battery projects across different regions and grid configurations. The company is working with regulatory bodies to ensure that the protocol meets or exceeds current and anticipated environmental standards. The protocol also enhances the financial viability of battery storage projects by creating a new revenue stream for grid-scale battery operators through the sale of carbon credits.