What is Renewable Energy Certificate Market Scope?
Renewable energy certificate (RECs) is a market-based instrument to promote renewable sources of energy and the development of the market electricity. It acts as a tracking mechanism for solar, wind, and green energies as they flow into the power grid. A renewable energy certificate is created when a one-megawatt hour of electricity is generated from an eligible renewable energy source. It provides proof that the owner of an energy market instrument owns one MWh of renewable energy, they account for the amount of renewable energy that flows through the power grid.
The Renewable Energy Certificate market study is being classified by Type (Solar and Non-solar), by Application (Compliance Reporting and Voluntary Consumption) and major geographies with country level break-up.
Global Renewable Energy Certificate is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching Solutions and Services. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analysts at AMA predicts that Manufacturers from United States will contribute to the maximum growth of Global Renewable Energy Certificate market throughout the predicted period.
Gulf Cooperation Council (Saudi Arabia), RECS International (Belgium), Central Electricity Regulatory Commission (India), US EPA (United States), Defense Logistics Agency Energy (United States), Green-e Energy (United States), GSA (United States), WAPA (United States) and Environmental Tracking Network of North America (United States) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Renewable Energy Certificate market by Type, Application and Region. On the basis of Type, Solar are dominating the market in the year 2021 where as Non-Solar stood as second largest market share.
On the basis of application, Compliance Reporting segment is dominating the market in the year 2021 where as Voluntary Consumption segment stood as second largest market.
On the basis of geography, the market of Renewable Energy Certificate has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Singapore launched standardized guidelines for renewable energy certificates, which is a part of efforts to decarbonize its power sector and develop a regional grid. These guidelines will help support renewable energy deployment in Singapore and in the region, supporting the development of a regional grid that taps different types of low-carbon energy sources in the region.
Influencing Market Trend
- The Popularity of Renewable Energy
- Availability of High Power from Small Renewable Energy Plants
Market Drivers
- Surging Renewable Energy Plants
- Increasing Environmental Awareness
Opportunities
- Government Expenditure on the Renewable Energy Plants
Restraints
- Highly Expensive Renewable Energy Certificate
Challenges
- Stringent Regulations on the Renewable Energy Plants
Key Target Audience
Renewable Energy Certificate Providers, New Entrants, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others
Customization available in this Study:
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