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Information @ a Glance

  • A REC represents the property rights to the environmental, social, and other nonpower qualities of renewable electricity generation.

  • RECs serve the role of laying claim to and accounting for the associated attributes of renewable-based generation. The REC and the associated underlying physical electricity take separate pathways to the point of end use.

  • REC is a market based instrument which provides evidence that a generator has produced a certain quantum of power from a RE resource which has been consumed and reflects the environmental attributes of the source of generation.

  • There are two main markets for renewable energy certificates in the United States - compliance markets and voluntary markets.

  • RECs are known under functionally equivalent names such as Green Tags or Tradable Renewable Certificates (TRCs), depending on the market. The U.S. currently does not have a national registry of RECs issued.

  • Renewable Energy Certificate seeks to address the mismatch between availability of RE sources and the requirement of the obligated entities to meet their renewable purchase obligation by purchasing green attributes of renewable energy remotely located in the form of Renewable Energy Certificate (REC).

  • REC market would provide appropriate opportunities for development of renewable energy based electricity generation.

  • RECs are quickly becoming the currency of renewable energy markets because of their flexibility and the fact that they are not subject to the geographic and physical limitations of commodity electricity.

  • Renewable Choice Energy also markets its nationally sourced RECs to residential and small commercial customers through grassroots marketing efforts, including direct door-to-door sales and community events.

  • SREC markets are relatively young but expected to grow rapidly in coming years as state solar requirements ramp up.

  • All RECs are not the same; cost can vary by location of generator, type of renewable (wind vs. solar), volume purchased, length of contract term, whether renewable energy is RPS 8 Innovation for Our Energy Future eligible (competition).

  • Growth in renewable energy development over the past decade has led to the increasing adoption of renewable energy certificates (RECs) as a means to track and trade the environmental benefits of renewable energy generation.

  • RECs are used in both compliance and voluntary markets to meet obligations to purchase renewable energy, substantiate claims, and as a mechanism to transfer attributes from one party to another.

  • The use of RECs emerged to simplify contracting, facilitate compliance tracking, and enable trading among obligated entities, resulting in a more efficient flow of capital to renewable energy projects.

  • RECs are generally present in all of these types of products, but in some cases the RECs are bundled at the wholesale level with electricity and provided to the consumer, while in others, entities may purchase RECs at retail separate from electricity.

  • The Renewable Energy Certificates (RECs) have the potential to address some of the key issues preventing exploitation of renewable potential in India.

  • In India there are several options for pricing renewable electricity such as using Market determined prices, linking prices to Unscheduled Interchange (UI) prices, setting the tariff for electricity generated from renewable resources as average power purchase price of the distribution licensee or fixing normative or feed-in tariff for particular renewable technology.

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