Renewable Energy Certificate (REC) Market Exclusive Report on the Latest Revenue and Future Scope

Renewable Energy Certificate (REC) Market size was estimated at USD 27,840.0 million in 2024 and is projected to reach USD 48,789.80 million in 2031 at a CAGR of 9.80% during the forecast period 2025-2031.

The Renewable Energy Certificate (REC) market is a financial mechanism designed to incentivize the generation of renewable energy by providing certificates to renewable energy producers for each megawatt-hour (MWh) of electricity generated.

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Impacts USA tariff rates on the Renewable Energy Certificate (REC) Market

In April 2025, the U.S. renewable energy sector is experiencing significant challenges due to the imposition of tariffs on imported clean energy components. These tariffs have led to increased costs for solar panels, wind turbines, and battery storage systems, which are critical for renewable energy projects. As a result, the cost of generating renewable energy has risen, affecting the issuance and trading of Renewable Energy Certificates (RECs).

The higher costs have led to a slowdown in new renewable energy projects, reducing the supply of RECs in the market. This supply constraint has caused REC prices to increase, impacting utilities and corporations that rely on RECs to meet renewable energy targets. The uncertainty surrounding trade policies and the increased cost of compliance have also led to volatility in the REC market, affecting investment decisions in the renewable energy sector.

Recent Developments: Renewable Energy Certificate (REC) Market

·        In February 2024, Statkraft entered into a Virtual Power Purchase Agreement (VPPA) with Air Liquide. Through this agreement, Air Liquide will acquire Renewable Energy Certificates (RECs) from newly established wind farms in Poland, helping to reduce its carbon dioxide (CO2) emissions by 38,000 tonnes annually.

·        In December 2024, NSCH, located in Massachusetts, committed to a two-year agreement with ENGIE Resources, ensuring that 100% of its energy consumption is matched with RECs. This initiative aligns with NSCH's sustainability objectives and guarantees that its energy use is offset by renewable generation.

·        In May 2024, Shell Energy Europe Limited and 3Degrees Group Inc. formalized an agreement to participate in the auction for guarantees of origin at Croatia’s power exchange, CROPEX.

·        In April 2023, 3Degrees, Inc. joined forces with the International Organization for Migration (IOM) and Energy Peace Partners (EPP) to complete a second Peace Renewable Energy Credit (P-REC) transaction, funding the solar electrification of Malakal Teaching Hospital and Bor State Hospital in South Sudan.

The Prominent Players in the Renewable Energy Certificate (REC) Market are

·        3Degrees, Inc.

·        Ecohz

·        Statkraft

·        Sterling Planet

·        South Pole

·        STX Group

·        REDEX and More

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North America to Dominate the Market

·        North America plays a significant role in the Renewable Energy Certificate (REC) market, driven by strong government mandates, state-level renewable energy policies, and a growing emphasis on sustainability. The U.S. market benefits from a variety of renewable energy targets and the development of robust REC trading platforms.

·        Europe is one of the most established markets for RECs, with countries like Germany, the UK, and the Netherlands leading the charge. The region’s strong commitment to renewable energy targets, as set by the European Union, has spurred significant demand for RECs.

·        The Asia-Pacific region is witnessing rapid growth in the REC market, fueled by countries like India, China, Japan, and Australia, which are increasingly focusing on expanding their renewable energy capacity. Government policies, such as renewable energy quotas and incentives, are promoting the adoption of RECs to meet energy transition goals.

The Renewable Energy Certificate (REC) Market is segmented into various segments such as Capacity, Energy Type, End Use and Region.

Based on Capacity

·        Up to 1,000 KWH

·        1,001–5,000 KWH

·        Above 5,000 KWH

Based on Energy Type

·        Solar Power

·        Wind Power

·        Hydropower

·        Biomass

·        Others

Based on End Use

·        Compliance

·        Voluntary

The Report helps to identify the opportunities in Global Regions:

·        North America (the United States, Canada, and Mexico)

·        Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)

·        Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))

·        South America (Brazil etc.)

·        The Middle East and Africa (North Africa and GCC Countries)

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In addition to the market data for the Renewable Energy Certificate (REC) Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.

Frequently Asked Questions

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