Renewable Energy Certificate Market Opportunities Emerging from High-Tech Industry Demand and Advancements in Renewable Energy Trading Systems

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the " Renewable Energy Certificate (REC) Market– (By Capacity (Up to 1,000 KWH, 1,001–5,000 KWH, Above 5,000 KWH), By Energy Type (Solar Power, Wind Power, Hydropower, Biomass, Others), By End-use (Compliance, Voluntary)), Trends, Industry Competition Analysis, Revenue and Forecast To 2034."

According to the latest research by InsightAce Analytic, the Renewable Energy Certificate (REC) Market is valued at USD 25.3 Bn in 2024 , and it is expected to reach USD 69.1 Bn by the year 2034, with a CAGR of 10.8% during the forecast period of 2025-2034.

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Renewable Energy Certificates (RECs), also known as green tags, renewable energy credits, or tradable renewable certificates, are intangible, tradable instruments that verify the production of one megawatt-hour (MWh) of electricity from eligible renewable energy sources within the United States. When generated exclusively from solar power, these certificates are referred to as Solar Renewable Energy Certificates (SRECs).

The global increase in electricity demand has led governments to establish regulatory frameworks requiring organizations to meet specified renewable energy benchmarks. This regulatory momentum, coupled with the growing deployment of decentralized renewable energy technologies—such as rooftop solar panels, micro wind turbines, and small-scale hydroelectric systems—is driving substantial growth in the renewable energy sector. In addition, supportive government policies that encourage the development and integration of sustainable and cost-efficient energy solutions are further propelling market expansion.

List of Prominent Players in the Renewable Energy Certificate (REC) Market:

·      AFS Energy B.V.

·      Climate Impact Partners Limited

·      3Degrees, Inc.

·      Ecohz AS

·      REDEX Pte. Ltd.

·      Shell Energy North America (US), L.P.

·      ENGIE S.A.

·      Evolugen by Brookfield Renewable

·      EDF Trading Limited

·      Grid Controller of India Limited (GRID-INDIA)

·      Enel S.p.A.

·      Statkraft AS

·      Sterling Planet, Inc.

·      South Pole Holding AG

·      STX Commodities B.V

·      Other Market Players

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Market Dynamics

Drivers:

The rising demand for sustainable energy solutions is primarily fueled by increasing public awareness of the environmental impacts associated with conventional energy sources, particularly fossil fuels. In pursuit of reduced carbon emissions and climate change mitigation, both consumers and enterprises are placing greater emphasis on the adoption of renewable energy. As environmental awareness continues to grow, stakeholders are increasingly favoring companies that demonstrate a proactive commitment to sustainability. In response, organizations are integrating renewable energy into their operations and acquiring Renewable Energy Certificates (RECs) to align with corporate sustainability objectives and stakeholder expectations. This growing emphasis on environmental responsibility is a key driver supporting the expansion of the REC market.

Challenges:

One of the primary challenges confronting the global REC market is the absence of uniform regulatory frameworks across regions. This regulatory fragmentation hinders market efficiency, complicates scalability, and presents operational challenges for multinational corporations and investors. Definitions of renewable energy and eligibility standards for RECs differ widely across jurisdictions. For instance, certain markets recognize biomass, hydroelectric, and nuclear energy as renewable sources, whereas others limit eligibility to solar and wind. In addition, disparities in Renewable Portfolio Standards (RPS) and varying compliance models—ranging from mandatory to voluntary REC markets—further contribute to market fragmentation and complexity in global adoption.

Regional Trends:

North America is anticipated to hold a leading share of the REC market in terms of revenue, driven by well-established policy frameworks, expanding renewable energy capacity, strong corporate sustainability commitments, and a mature trading infrastructure. The implementation of stringent RPS requirements and government incentives has strengthened the market for utility-scale renewable energy procurement and REC utilization.

In contrast, the Asia-Pacific region is projected to exhibit the fastest growth during the forecast period. This growth is attributed to rising energy demands from its rapidly developing high-tech industries, coupled with increasing governmental support for renewable energy initiatives. Efforts to establish and enhance REC trading systems across the region are further accelerating market development and adoption.

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Recent Development:

• February 2024: Statkraft and Air Liquide signed the Virtual Power Purchase Agreement. The deal calls for Air Liquide to buy RECs from recently constructed wind farms in Poland. It is anticipated that this agreement will result in an annual reduction of 38,000 tonnes of carbon dioxide (CO2) emissions from Air Liquide.

Segmentation of Renewable Energy Certificate (REC) Market-

By Capacity-

·      Up TO 1,000 KWH

·      1,001-5,000 KWH

·      Above 5,000 KWH

By Energy Type-

·      Solar power

·      Wind power

·      Hydropower

·      Biomass

·      Others

By End-use-

·      Compliance

·      Voluntary

By Region-

North America-

·      The US

·      Canada

Europe-

·      Germany

·      The UK

·      France

·      Italy

·      Spain

·      Rest of Europe

Asia-Pacific-

·      China

·      Japan

·      India

·      South Korea

·      South East Asia

·      Rest of Asia Pacific

Latin America-

·      Brazil

·      Argentina

·      Mexico

·      Rest of Latin America

 Middle East & Africa-

·      GCC Countries

·      South Africa

·      Rest of the Middle East and Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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