Renewable Energy Certificates (REC) Market
According to recent market estimates, the renewable energy certificates (REC) market is expected to grow from USD 25.64 billion in 2024 to USD 66.74 billion by 2034, registering a compound annual growth rate (CAGR) of 10.1% over the forecast period.
Market Introduction
Renewable energy certificates (RECs) are tradable market-based instruments that represent proof that one megawatt-hour (MWh) of electricity has been generated from a renewable energy source, such as wind, solar, or hydroelectric power, and delivered to the grid. These certificates allow the holder to claim the environmental attributes and benefits associated with renewable energy generation, even if the physical electricity consumed is sourced from a different mix of power generation.
RECs are also known as green tags or renewable energy credits, and…
