Emerging Markets for Renewable Energy Certificates: Opportunities and Challenges

    Research output: NRELTechnical Report


    Renewable energy certificates (RECs) represent the attributes of electricity generated from renewable energy sources. These attributes are unbundled from the physical electricity, and the two products-the attributes embodied in the certificates and the commodity electricity-may be sold or traded separately. RECs are quickly becoming the currency of renewable energy markets because of theirflexibility and the fact that they are not subject to the geographic and physical limitations of commodity electricity. RECs are currently used by utilities and marketers to supply renewable energy products to end-use customers as well as to demonstrate compliance with regulatory requirements, such as renewable energy mandates. The purpose of this report is to describe and analyze the emergingmarket for renewable energy certificates. It describes how RECs are marketed, examines RECs markets including scope and prices, and identifies and describes the key challenges facing the growth and success of RECs markets.
    Original languageAmerican English
    Number of pages76
    StatePublished - 2005

    Bibliographical note

    Update to original posted version 3/7/05.

    NREL Publication Number

    • NREL/TP-620-37388


    • emissions markets
    • green power
    • net metering
    • null
    • null
    • product certification
    • REC markets
    • REC tracking systems
    • RECS
    • renewable energy certificates
    • renewable portfolio standard (RPS)
    • RPS


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