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Renewable Energy Certificate (REC) Market by Trend, Share,
Size and Streamline Inspection and Forecast to 2030
Renewable
Energy Certificate (REC) Market size was estimated at USD 27,840.0
million in 2024 and is projected to reach USD 48,789.80 million in 2031 at a
CAGR of 9.80% during the forecast period 2025-2031.
The Renewable Energy Certificate (REC) market is a financial
mechanism designed to incentivize the generation of renewable energy by
providing certificates to renewable energy producers for each megawatt-hour
(MWh) of electricity generated.
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Impacts USA tariff
rates on the Renewable Energy Certificate (REC) Market
In April 2025, the U.S. renewable energy sector is
experiencing significant challenges due to the imposition of tariffs on
imported clean energy components. These tariffs have led to increased costs for
solar panels, wind turbines, and battery storage systems, which are critical
for renewable energy projects. As a result, the cost of generating renewable
energy has risen, affecting the issuance and trading of Renewable Energy
Certificates (RECs).
The higher costs have led to a slowdown in new renewable
energy projects, reducing the supply of RECs in the market. This supply
constraint has caused REC prices to increase, impacting utilities and
corporations that rely on RECs to meet renewable energy targets. The
uncertainty surrounding trade policies and the increased cost of compliance
have also led to volatility in the REC market, affecting investment decisions
in the renewable energy sector.
Recent Developments: Renewable Energy Certificate (REC) Market
·
In
February 2024, Statkraft entered into a Virtual Power Purchase Agreement
(VPPA) with Air Liquide. Through this agreement, Air Liquide will acquire
Renewable Energy Certificates (RECs) from newly established wind farms in
Poland, helping to reduce its carbon dioxide (CO2) emissions by 38,000 tonnes
annually.
·
In
December 2024, NSCH, located in Massachusetts, committed to a two-year
agreement with ENGIE Resources, ensuring that 100% of its energy consumption is
matched with RECs. This initiative aligns with NSCH's sustainability objectives
and guarantees that its energy use is offset by renewable generation.
·
In May
2024, Shell Energy Europe Limited and 3Degrees Group Inc. formalized an
agreement to participate in the auction for guarantees of origin at Croatia’s
power exchange, CROPEX.
·
In April
2023, 3Degrees, Inc. joined forces with the International Organization for
Migration (IOM) and Energy Peace Partners (EPP) to complete a second Peace
Renewable Energy Credit (P-REC) transaction, funding the solar electrification
of Malakal Teaching Hospital and Bor State Hospital in South Sudan.
The Prominent Players
in the Renewable Energy Certificate (REC) Market are
·
3Degrees, Inc.
·
Ecohz
·
Statkraft
·
Sterling Planet
·
South Pole
·
STX Group
·
REDEX and More
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North America to
Dominate the Market
·
North America plays a significant role in the
Renewable Energy Certificate (REC) market, driven by strong government
mandates, state-level renewable energy policies, and a growing emphasis on
sustainability. The U.S. market benefits from a variety of renewable energy
targets and the development of robust REC trading platforms.
·
Europe is one of the most established markets
for RECs, with countries like Germany, the UK, and the Netherlands leading the
charge. The region’s strong commitment to renewable energy targets, as set by
the European Union, has spurred significant demand for RECs.
·
The Asia-Pacific region is witnessing rapid
growth in the REC market, fueled by countries like India, China, Japan, and
Australia, which are increasingly focusing on expanding their renewable energy
capacity. Government policies, such as renewable energy quotas and incentives,
are promoting the adoption of RECs to meet energy transition goals.
The Renewable Energy
Certificate (REC) Market is segmented into various segments such as Capacity,
Energy Type, End Use and Region.
Based on Capacity
·
Up to 1,000 KWH
·
1,001–5,000 KWH
·
Above 5,000 KWH
Based on Energy Type
·
Solar Power
·
Wind Power
·
Hydropower
·
Biomass
·
Others
Based on End Use
·
Compliance
·
Voluntary
The Report helps to
identify the opportunities in Global Regions:
·
North America (the United States, Canada, and
Mexico)
·
Europe (Germany, UK, France, Italy, Russia,
Turkey, etc.)
·
Asia-Pacific (China, Japan, Korea, India,
Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and
Vietnam))
·
South America (Brazil etc.)
·
The Middle East and Africa (North Africa and GCC
Countries)
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In addition to the
market data for the Renewable Energy Certificate (REC) Market, Delvens offers
client-centric reports customized according to the company’s specific demand
and requirements.
Frequently Asked
Questions
·
What are the years considered to study Renewable
Energy Certificate (REC) Market intelligence report?
·
What is the compound annual growth rate (CAGR)
of the Renewable Energy Certificate (REC) Market?
·
Which region holds the largest market share in
Renewable Energy Certificate (REC) Market?
·
Which region is the fastest growing in Renewable
Energy Certificate (REC) Market?
·
Who are the major players in Renewable Energy
Certificate (REC) Market?
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