Renewable Energy Certificates: REC/I-REC
Renewable Energy Certificates (RECs) are a market-based instrument that certifies the bearer owns one megawatt-hour (MWh) of electricity generated from a renewable energy source. The REC received can then be sold on the open market as an energy commodity once the power provider has fed the energy into the grid. Earned RECs can be sold to other polluting entities as a carbon credit, for example, to offset their emissions.
- REC acts as a tracking mechanism for solar, wind, and other green energies as they flow into the power grid.
- RECs go by many names, including Green tag, Tradable Renewable Certificates (TRCs), Renewable Electricity Certificates, Renewable Energy Credits or I-REC (Available for International Market).
- Under Renewable Purchase Obligation (RPO) bulk purchasers like discoms, open access consumers and captive users are required to buy a certain proportion of RECs. They can buy RECs from renewable energy producers.
GSSPL Offers Services of REC/I-REC
- Application preparation, filing & liaison with concerned authorities for issuance of REC
- Feedback reporting to authorities of Electricity Generation
- RE generation source Accreditation and Registration
- Account Creation and Issuance and monitoring of REC with compliance reporting
- REC Sale/Purchase facilitation services
- Trading of RECs
- REC Compliance reporting to various authorities
- Assistance with transaction management and billing and settlement mechanisms.
