Over Rs. 9,000 crore worth of renewable energy certificates sold in India to date: Report
- IBEF
- May 21, 2021
According to a research issued on Thursday by the CEEW-Centre for Energy Finance, India's renewable energy certificate (REC) market has generated net sales of Rs. 9,266 crore (US$ 1.27 billion) in its decade of existence.
It was a good indicator as the country would increasingly require market instruments like RECs to back up its energy transition.
RECs are market-based instruments that cater to discoms and other companies for renewable purchase obligations (RPOs). According to the analysis, up to 99% of all RECs sold have been used to meet RPO obligations.
Between 2011 and 2020, the total REC issuances stood at 70.6 million.
According to the survey, solar installations account for as low as 16% of all RECs granted to power producers. Discoms, the major users of solar electricity in India, account for a meagre 12% of the total REC issuances.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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