05-28-2025 08:34 AM CET | Energy & Environment

Renewable Energy Certificate (REC) Market

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.

Global Renewable Energy Certificate Market 2025-2034 full Research Repot latest version is now available.

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Green tags, renewable energy credits, and tradable renewable certificates are alternative terms for renewable energy certificates, which are intangible, tradable energy commodities that verify the production of one megawatt-hour of electricity from an eligible renewable energy source in the United States. Renewable energy certificates (RECs) produced only by solar energy are known as solar renewable energy certificates. Global power consumption is rising, and governments are enforcing laws that require businesses to meet renewable energy targets. Micro wind turbines, micro hydro power plants, and rooftop solar panels are increasing their market share in the renewable energy sector, which is propelling the industry’s expansion. Additionally, the market is expanding due to government policies that support the development of these sustainable and reasonably priced resources.

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 demand for sustainable energy alternatives is rising as a result of public awareness of the negative environmental effects of conventional energy sources like fossil fuels. To cut carbon emissions and fight climate change, consumers are looking for greener and renewable energy sources more and more. Customers are giving more weight to goods and services from businesses that exhibit environmental responsibility as public awareness of sustainability issues rises. In order to satisfy their corporate sustainability objectives and conform to consumer demands, many businesses subsequently embrace renewable energy sources and acquire renewable energy certificates. Thus, the market for renewable energy certification is significantly influenced by this aspect.

Challenges:

The lack of regional consistency in the global Renewable Energy Certificate (REC) market is a problem. This problem creates inefficiencies, limits market growth, and poses difficulties for businesses and investors in many marketplaces. RECs and renewable energy generating requirements are defined differently in different nations and regions. For instance, whereas biomass, hydro, and even nuclear energy are regarded as renewable by some authorities, only solar and wind energy are acceptable by others. Furthermore, nations develop different rules and goals for Renewable Portfolio Standards (RPS) and other compliance procedures, which leads to fragmented marketplaces. While compulsory compliance markets are the only option in certain regions, others offer voluntary REC markets.

Regional Trends:

North America Renewable Energy Certificate (REC) market is anticipated to register a major market share in terms of revenue due to its well-established legislative frameworks, strong corporate sustainability commitments, rapid growth in renewable energy capacity, supportive government subsidies, and advanced trade infrastructure. The region’s adoption of stringent renewable portfolio standards and other laws that promote utility-scale purchases of renewable energy has generated a substantial market for RECs. Besides, over the projection period, Asia Pacific is expected to increase at the fastest rate. The increasing demand for green or renewable power has further propelled the market boom in the region. The area is renowned for its many high-tech companies, many of which have substantial energy requirements that support the expansion of renewable energy sources. Additionally, the development of this region has been greatly aided by government programs to support the expansion of renewable energy certificates.

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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

Read Overview Report- https://www.insightaceanalytic.com/report/renewable-energy-certificate-rec-market/3008

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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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This release was published on openPR.