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1.3. The Price of Going Green with Mandatory Certificates
There are multiple common ways of making bitcoin mining and transactions environmentally friendly. Covering CO2 pollution using CO2 allowances or renewable energy certificates.
The CO2 calculations are based on average mining facilities carbon intensity of 0.475 tCO2/MWh; average mining CO2 footprint of 183 t per BTC mined, average prices of European/Chinese/US carbon allowances of €50/$20/$4 in 2021 Q1-Q2, and average EU/CN/US green cert prices spot+forward of €2/$2/$1 respectively.
CO2 allowances:
Transaction - using 0.75 tCO2 as average BTC transaction CO2 output:
  • Europe €37,5
  • China $3
  • US $15
Mining - using 183 tCO2 as average CO2 emission for one bitcoin mined:
  • Europe €9150, while 2021/06 average price of allowance is €50
  • China $732, using $4/tCO2 as the Chinese carbon allowance system starting price at the beginning of 2021
  • US $3660
CO2 allowances
Green energy - another alternative to offsetting CO2 emissions of electricity generation from fossil fuels, is to green your electricity green with renewable energy certificates:
Transaction - using 1.5 MWh as average BTC transaction electricity consumption:
  • Europe €3
  • China $1,5
  • US $3
Mining - using 385 MWh as average electricity consumption for one bitcoin mined:
  • Europe €770
  • China $385
  • US $770
Green Energy
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