04-17-2025 09:23 AM CET | Energy & Environment

Renewable Energy Certificate Market

Global Renewable Energy Certificate Market reached US$ 14.12 billion in 2024 and is expected to reach US$ 112.70 billion by 2032, growing with a CAGR of 26.32% during the forecast period 2025-2032.

Renewable Energy Certificate Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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A Renewable Energy Certificate (REC) represents proof that one megawatt-hour of electricity was generated from a renewable energy source. RECs are a market-based instrument used by organizations to meet clean energy goals or regulatory requirements. They enable the separation of green energy attributes from actual electricity supply. Buying RECs supports investment in renewable power generation. They play a vital role in promoting sustainable energy transitions.

List of the Key Players in the Renewable Energy Certificate Market:

Central Electricity Regulatory Commission, Green-e Energy, General Services Administration, Western Area Power Administration, U.S. Environment Protection Agency, Defense Logistics Agency Energy, I-REC standard, TÜV SÜD, Statkraft and The Green Certificate Company Limited.

Industry Development:

In May 2024, the Indian Energy Exchange (IEX) reported a 26.4% year-on-year increase in REC trading for the fiscal year 2024. This surge in both the quantity and value of RECs traded highlights India’s rising demand for renewable energy.

In February 2024, the Indian Wind Power Association Northern Region Council challenged the Central Electricity Regulatory Commission’s (CERC) 2022 legislation on renewable energy certificates. The resolution of this issue could have a substantial impact on the dynamics of the REC market in India.

Growth Forecast Projected:

The Global Renewable Energy Certificate Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Renewable Energy Certificate Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Renewable Energy Certificate Market:

By Type: Compliance RECs, Voluntary RECs

By Energy Source: Solar RECs, Wind RECs, Hydro RECs, Others

By End-User: Industrial, Commercial, Residential, Governmental

Regional Analysis for Renewable Energy Certificate Market:

The regional analysis of the Renewable Energy Certificate Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter’s five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Renewable Energy Certificate market?

➠ Who are the leading manufacturers in the global Renewable Energy Certificate industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Renewable Energy Certificate industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Renewable Energy Certificate market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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