Press release
Renewable Energy Certificate System (RECS) Market Growth Must Triple Due to Technology innovation during 2021-2028
The renewable energy certificate system (RECS) is a procedure for international trade in renewable energy certificates that was created by RECS International to promote the development of renewable energy.Moreover, in this procedure, a standard energy certificate is provided to evidence the production of an amount of renewable energy produced, thus promoting the further development of new renewable energy. A RECS energy certificate is generated for every 1 megawatt-hour (MWh) of renewable energy produced. In addition, this energy has to be registered with the relevant national issuing body. These certificates are even transferred between countries, and are further utilized to provide evidence of the consumption of renewable energy by a particular country.
This report projects the trends and opportunities of the global renewable energy certificates market. This research study includes a qualitative and quantitative analysis with comprehensive research methodologies and reliable projections to understand the present overview and predict the market behavior during the forecast period.
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The market has witnessed significant demand owing to the rise in level of renewable purchase obligation (RPO) target, which provides a target share of renewables in the total electricity produced. This is further driven by the broad policy goals of the nation (emission reduction, energy security, and job creation) as well as the potential for development in a particular country. Moreover, the deployment of RPO targets around the world further boosts the market growth. However, growth in issues related to lack of financial aid for REC dependent renewable energy projects is expected to hinder the market growth.
The global renewable energy certificates market is bifurcated based on end-user and geography. On the basis of end-user, it is segmented into solar electric, wind, geothermal, hydropower, biomass, and others (biofuels and fuel cells). Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Key market players in this sector include Central Electricity Regulatory Commission (CERC), Environment Protection Agency (EPA), Environmental Tracking Network of North America (ETNNA), General Services Administration (GSA), Western Area Power Administration (WAPA), U.S. Environmental Protection Agency (USEPA), and Defense Logistics Agency Energy (DLA Energy).
Key Benefits for Stakeholders
• This report provides a quantitative analysis of the current trends, estimations, and dynamics through 2017-2023, which assists to identify the prevailing market opportunities.
• Major countries in each region are detailed as per key trends, developments, and presence of industry players in the market.
• Region-wise and country-wise market conditions are comprehensively analyzed in the report.
• Key players of the renewable energy certificates market are also listed.
• This study evaluates the value chain to understand the competitive environment across geographies.
• An in-depth analysis of segmentation is provided to elucidate the prevailing market opportunities.
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