Voluntary Renewable Energy Certificates Market Potential in India

摘要

With increasing thrust on renewable energy in Indian energy mix, renewable energy market is growing at a fast pace. To develop the market, Renewable Energy Certificates (REC) mechanism was introduced in India in 2010. Since then, the RECs market has been gradually picked up with increased trading by both renewable power project developers and obligated entities, leading to formation of compliance REC markets. However, there is a very little development in terms of voluntary REC markets. With this perspective, the article aims to understand and estimate the hidden potential of voluntary REC market in India for the FY 2013.