Renewable Energy Certificate (REC) Industry Report 2025-2030: Solar Power, Wind Power, Hyd
April 17, 2025
The Renewable Energy Certificate (REC) market is poised to surge to USD 45.45 billion by 2030, up from USD 27.99 billion in 2025, reflecting a CAGR of 10.2%. Key drivers include favorable government policies, corporate sustainability initiatives, and heightened climate change awareness. Solar energy emerges as the largest market segment due to declining costs and global adoption. The above 5,000 KWh segment leads in capacity, while the voluntary segment gains traction among corporates. North America ranks as the second-fastest-growing region, fueled by regulatory mandates and sustainability objectives. Major players like 3Degrees and Shell Energy dominate the market landscape.
Renewable Energy Certificate (REC) Market
Dublin, April 17, 2025 (GLOBE NEWSWIRE) — The “Renewable Energy Certificate (REC) Market by Energy Type (Solar Power, Wind Power, Hydropower, Biomass), Capacity (Up to 1000 KWH, 1001-5000 KWH, Above 5000 KWH), End Use (Compliance, Voluntary), and Region – Global Forecast & Trends to 2030” has been added to ResearchAndMarkets.com’s offering.
The renewable energy certificate (REC) market is projected to achieve a value of USD 45.45 billion by 2030, up from USD 27.99 billion in 2025, driven by a CAGR of 10.2% during the forecast period. Governmental policies supporting renewable energy targets, corporate sustainability strategies, energy transitions, and heightened climate change awareness are key drivers in this growth trajectory.
Solar: The Largest Segment of the Renewable Energy Certificate Market by Energy Type
Within the REC market, solar energy leads by energy type due to rapid growth, cost-effectiveness, and global adoption. Technological advancements, economies of scale, and government incentives have reduced costs over the last decade, making solar energy a dominant, affordable, and viable source for both industrial and domestic installations. As solar facilities continue to generate a significant quantity of RECs, their prominence in the market expands.
Above 5,000 KWh Segment to Remain Dominant by Capacity
Segmented by capacity, the REC market identifies installations above 5,000 KWh as possessing the largest share. Large-scale projects, particularly in solar and wind, benefit from economies of scale, reducing the cost per energy unit with increased system size. This results in financially compelling and competitive projects in the REC market.
Voluntary Segment: A Leading End-User Category
The voluntary segment, driven by increased corporate and individual demand for fulfilling sustainability goals, is anticipated to be a significant market contributor. Businesses and individuals increasingly seek participation in the green transition, bolstering this sector.
North America: A Rapidly Growing Regional Market
Expected to be among the fastest-growing regions from 2025 to 2030, the North American REC market benefits from regulatory mandates, corporate sustainability goals, and rising climate change awareness. In the U.S., state policies like Renewable Portfolio Standards (RPS) drive continuous REC demand, enabling firms to meet renewable energy compliance objectives.
Breakdown of Primaries
Prominent players in the REC market include 3Degrees, Inc. (US), Ecohz (Norway), Shell Energy (UK), Statkraft (Norway), EDF Trading Limited (UK), ENGIE (France), The Green Certificate Company (France), Enel Spa (Italy), and STX Group (Netherlands).
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By Company Type: Tier 1 – 65%, Tier 2 – 24%, Tier 3 – 11%
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By Designation: C-Level Executives – 30%, Managers – 25%, Others – 45%
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By Region: North America – 30%, Europe – 20%, Asia Pacific – 25%, South America – 10%, Middle East & Africa – 15%
Key Benefits of Buying the Report
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Identifies drivers such as government mandates and corporate renewable strategies, noting REC market fluctuations and transaction costs as growth constraints.
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Highlights innovations like Shell Energy’s RECO platform which connects renewable generators with organizations seeking LGCs, enabling efficient energy source matching.
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Covers market advances like blockchain and digital ledger tech in REC transactions, enhancing transparency and tracking capabilities.
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Discusses collaborations such as EDF’s Proof-of-Concept with REDEX and Rekursive Labs for automated REC transactions, facilitating real-time small-scale REC retirements.
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Notes competitive assessments of key players, providing strategic insights.
Key Attributes:
|
Report Attribute |
Details |
|
No. of Pages |
203 |
|
Forecast Period |
2025 – 2030 |
|
Estimated Market Value (USD) in 2025 |
$27.99 Billion |
|
Forecasted Market Value (USD) by 2030 |
$45.45 Billion |
|
Compound Annual Growth Rate |
10.2% |
|
Regions Covered |
Global |
Market Dynamics
Drivers
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Government Policies and Mandates Regarding Renewable Energy Targets
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Corporate Strategies and Initiatives Toward Sustainability Goals
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Transition Toward Renewable Energy Sources
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Increasing Awareness of Climate Change
Restraints
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Fluctuating Prices of RECs
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High Transaction Costs
Opportunities
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Increasing Investments in Clean Energy Projects
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Government Incentives and Financial Support Programs
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Elevating Demand for Solar Panels, Micro Hydropower Plants, and Micro Wind Turbines
Challenges
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Standardization Gaps in REC and Risks of Fraud and Duplicate Claims
Case Studies
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Indian Companies Utilize RECs to Meet RE100 Energy Targets
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South Korea Adopts LCOE-Integrated AHP Model to Design Flexible REC Multiplier System
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Clearway Energy Refurbishes Ocotillo Wind Farm to Extend Its Operational Life Span
Company Profiles
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3Degrees, Inc.
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Statkraft
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Enel Spa
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Shell Energy
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EDF Trading Limited
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Engie
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STX Group
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South Pole
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Ecohz
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Redex
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Climate Impact Partners
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Cnerg
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Sterling Planet
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The Green Certificate Company
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Ofgem
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Grid-India
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Saxon Renewables Pte. Ltd
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Targray
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Nextera Energy Resources, LLC.
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Terrapass
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ACT
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AFS
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Evolugen
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Native
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Nvalue
For more information about this report visit https://www.researchandmarkets.com/r/bg96ox
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