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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

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    Report

  • 203 Pages
  • April 2025
  • Region: Global
  • Markets and Markets
  • ID: 6062609
Description Jump to:
The Renewable energy certificate market is estimated to reach USD 45.45 billion by 2030 from an estimated value of USD 27.99 billion in 2025, at a CAGR of 10.2% during the forecast period. Supporting government policies and mandates for renewable energy targets, Corporates strategies and initiatives towards sustainability, energy transition and shift to renewables, and increasing awareness towards Climate change are the major driving factors for the Renewable Energy Certificate market.

Solar: The largest segment of the Renewable energy certificate market, by energy type.

By energy type, the Renewable energy certificate market was segmented into five categories: wind, solar, hydro, biomass and others. The segment, solar energy, is expected to capture the largest share of the market by energy type. Due to rapid growth, cost-effectiveness, and widespread adoption across the world. Solar energy has experienced a substantial decline in costs over the last decade due to advancements in technology, economies of scale, and government incentives. This has made it the most affordable and viable source of renewable energy for both industrial-scale and domestic installations, leading to its superiority in the REC market. Consequently, many solar energy generators are producing renewable nergy certificates from their solar facilities, and thus a large quantity of certificates is being issued, traded, and bought in the market.

Above 5,000 KWh segment is expected to remain the largest segment by capacity.

Based on capacity, the Renewable energy certificate market has been segmented into upto 1,000 KWh, 1,001 to 5,000 KWh, and above 5,000 KWh. The Above 5,000 KWh segment is expected to hold the largest market share during the forecast period because of the size and economic efficiencies of large-scale renewable energy projects, especially in solar and wind energy. Larger installations, like commercial-scale solar farms or wind turbines, can generate large quantities of renewable energy. Large-scale renewable energy projects benefit from economies of scale where the cost per unit of energy generated decreases as the system size gets larger making them generally more financially compelling and more competitive in the RECs market.

Voluntary segment is expected to emerge as the second largest segment based on end user

By end use, the Renewable energy certificate market has been segmented into complaince and voluntary segment. Voluntary is expected to be the second largest during the forecast period driven by the rising demand from corporations, business units, and individuals seeking to meet their sustainability targets and environmental goals.

North America is expected to be the second fastest region in the Renewable energy certificate market.

North America is expected to be the second-fastest region in the Renewable energy certificate market between 2025-2030. The North American market consists of the US, Canada, and Mexico. Demand for Renewable energy certificate in North America is driven by the combination of of regulatory obligation, company sustainability objectives, and rising public awareness of climate change. In the US, much of the demand stems from state Renewable Portfolio Standards (RPS) and Clean Energy Standards (CES), which require utilities and energy companies to get a specific percentage of their energy from renewable sources. This regulatory structure generates ongoing demand for RECs as a vehicle through which utilities and firms can prove compliance with renewable energy requirements.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
  • By Company Type: Tier 1 - 65%, Tier 2 - 24%, and Tier 3 - 11%
  • By Designation: C-Level Executives - 30%, Managers - 25%, and Others - 45%
  • By Region: North America - 30%, Europe - 20%, Asia Pacific - 25%, South America - 10%, Middle East & Africa - 15%
Note: Others include product engineers, product specialists, and engineering leads.

Note: The tiers of the companies are defined based on their total revenues as of 2023. Tier 1: More than USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: Less than USD 500 million.

The Renewable energy certificate market is dominated by a few major players that have a wide regional presence. The leading players in the Renewable energy certificate market are 3Degrees, Inc. (US), Ecohz (Norway), Shell Energy (UK), Statkraft (Norway), EDF Trading Limited (UK), ENGIE (France), The Green Certificate Company (France), Enel Spa (Italy), STX Group (Netherlands).

Research Coverage:

The report defines, describes, and forecasts the Renewable Energy Certificate market, by energy type, by capacity, by end user for various regions. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the Renewable Energy Certificate market.

Key Benefits of Buying the Report

  • The Renewable Energy Certificate market is driven by factors such as supporting government policies and mandates for renewable energy targets, corporates strategies and initiatives towards sustainability, energy transition and shift to renewables, and increasing awareness towards climate change. Fluctuating prices of REC and high transaction costs restrain growth in the Renewable Energy Certificate market. Opportunities include a increasing investment in clean energy projects andIncreasing government incentives and financial support programs. Few challenges this market faces are lack of standardization and double counting
  • Product Development/ Innovation: Other such developments is RECO, RECO is a platform launched by Shell Energy that enables businesses to progressively purchase renewable energy by allowing Shell Energy customers to buy Large-scale Generation Certificates (LGCs) from accredited renewable generators. These LGCs are then surrendered on behalf of the customer, effectively matching their electricity consumption with renewable energy sources.
  • Market Development: Incorporation of blockchain and digital ledger technology in renewable energy certificates is emerging as a prominent trend. Digital Ledger enable the real-time and distributed recording of transactions, which eliminates the need for centralized intermediaries. This system ensures that every transaction involving a REC (such as the issuance, sale, or certificate transfer) is recorded transparently and can be tracked by all stakeholders involved.
  • Market Diversification: EDF, REDEX and Rekursive Labs have successfully collaborated on a Proof-of-Concept for automating Renewable Energy Certificates transactions using Hedera. The project enables end consumers to retire small quantities of RECs in real time.
  • Competitive Assessment: Assessment of rankings some of the key players including of 3Degrees, Inc. (US), Ecohz (Norway), Shell Energy (UK), Statkraft, EDF Trading Limited (UK), ENGIE (France), The Green Certificate Company (France), Enel Spa (Italy), STX Group (Netherlands).

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.3.1 Market Segmentation and Regional Scope
1.3.2 Years Considered
1.3.3 Inclusions and Exclusions
1.4 Currency Considered
1.5 Unit Considered
1.6 Limitations
1.7 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 List of Key Secondary Sources
2.1.1.2 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 List of Primary Interview Participants
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.1.2.4 Key Data from Primary Sources
2.2 Data Triangulation
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.3.3 Demand-Side Analysis
2.3.3.1 Demand-Side Assumptions
2.3.3.2 Demand-Side Calculations
2.3.4 Supply-Side Analysis
2.3.4.1 Supply-Side Assumptions
2.3.4.2 Supply-Side Calculations
2.4 Research Assumptions
2.5 Research Limitations
2.6 Risk Analysis
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Players in Renewable Energy Certificate Market
4.2 Renewable Energy Certificate Market in North America, by End Use and Country
4.3 Renewable Energy Certificate Market, by Energy Type
4.4 Renewable Energy Certificate Market, by Capacity
4.5 Renewable Energy Certificate Market, by End Use
4.6 Renewable Energy Certificate Market, by Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Government Policies and Mandates Regarding Renewable Energy Targets
5.2.1.2 Corporate Strategies and Initiatives Toward Sustainability Goals
5.2.1.3 Transition Toward Renewable Energy Sources
5.2.1.4 Increasing Awareness of Climate Change
5.2.2 Restraints
5.2.2.1 Fluctuating Prices of Recs
5.2.2.2 High Transaction Costs
5.2.3 Opportunities
5.2.3.1 Increasing Investments in Clean Energy Projects
5.2.3.2 Government Incentives and Financial Support Programs
5.2.3.3 Elevating Demand for Solar Panels, Micro Hydropower Plants, and Micro Wind Turbines
5.2.4 Challenges
5.2.4.1 Standardization Gaps in REC and Risks of Fraud and Duplicate Claims
5.3 Trends/Disruptions Impacting Customer Business
5.4 Supply Chain Analysis
5.5 Ecosystem Analysis
5.6 Case Study Analysis
5.6.1 Indian Companies Utilize Recs to Meet Re100 Energy Targets
5.6.2 South Korea Adopts Lcoe-Integrated Ahp Model to Design Flexible REC Multiplier System
5.6.3 Clearway Energy Refurbishes Ocotillo Wind Farm to Extend Its Operational Life Span
5.7 Technology Analysis
5.7.1 Key Technologies
5.7.1.1 Blockchain and Digital Ledger Technology
5.7.1.2 IoT-based Monitoring Systems
5.7.2 Complementary Technologies
5.7.2.1 Remote Sensing and Geographic Information Systems
5.7.2.2 Cloud Computing and API Integration
5.8 Pricing Analysis
5.8.1 Indicative Pricing of Renewable Energy Certificates, by Energy Type, 2024
5.8.2 Average Selling Price Trend of Renewable Energy Certificates, by Region, 2022-2024
5.9 Patent Analysis
5.10 Key Conferences and Events, 2025
5.11 Investment and Funding Scenario
5.12 Regulatory Landscape
5.12.1 Regulatory Bodies, Government Agencies, and Other Organizations
5.13 Porter's Five Forces Analysis
5.13.1 Threat of Substitutes
5.13.2 Bargaining Power of Suppliers
5.13.3 Bargaining Power of Buyers
5.13.4 Threat of New Entrants
5.13.5 Intensity of Competitive Rivalry
5.14 Key Stakeholders and Buying Criteria
5.14.1 Key Stakeholders in Buying Process
5.14.2 Buying Criteria
5.15 Impact of Generative AI/AI on Renewable Energy Certificate Market
5.15.1 Adoption of Generative AI/AI Applications in Renewable Energy Certificate Market
5.15.2 Impact of Generative AI/AI by Key End-users, by Region
5.15.3 Impact of AI in Market, by Region
5.16 Global Macroeconomic Outlook
5.16.1 Introduction
5.16.2 GDP Trends and Forecast
5.16.3 Impact of Inflation on Renewable Energy Certificate Market
6 Renewable Energy Certificate Market, by Capacity
6.1 Introduction
6.2 Up to 1,000 kWh
6.2.1 Rising Adoption of Rooftop Solar Panels and Small-Scale Wind Turbines to Propel Segmental Growth
6.3 1,001-5,000 kWh
6.3.1 Greater Availability of Green Financing, Subsidies, and Corporate Power Purchase Agreements to Drive Market
6.4 Above 5,000 kWh
6.4.1 Large-Scale Compliance, Corporate Sustainability, and Decarbonization Efforts to Drive Growth
7 Renewable Energy Certificate Market, by Energy Type
7.1 Introduction
7.2 Solar Power
7.2.1 Widespread Adoption of Solar Energy due to Government Incentives to Foster Segmental Growth
7.3 Wind Power
7.3.1 Growing Corporate Sustainability Commitments to Accelerate Demand
7.4 Hydropower
7.4.1 Ability to Generate Large Amount of Base-Load Energy to Spur Demand
7.5 Biomass
7.5.1 Increasing Demand for Clean and Renewable Energy Sources to Foster Segmental Growth
7.6 Others
8 Renewable Energy Certificate Market, by End Use
8.1 Introduction
8.2 Compliance
8.2.1 Increasing Decarbonization Targets Set by Governments Worldwide to Foster Market Growth
8.3 Voluntary
8.3.1 Sustainability Goals and Esg Commitments of Business Owners to Drive Market
9 Renewable Energy Certificate Market, by Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 Implementation of Rps and Increased Adoption of Renewable Energy to Facilitate Market Growth
9.2.2 Canada
9.2.2.1 Growing Focus on Voluntary Recs to Support Market Growth
9.2.3 Mexico
9.2.3.1 Commitment to Creating Sustainable Power Sector to Bolster Demand
9.3 Asia-Pacific
9.3.1 China
9.3.1.1 Mandates on Green Electricity Certificates to Drive Market
9.3.2 India
9.3.2.1 Introduction of Certificate Multiplier System to Contribute to Market Growth
9.3.3 Japan
9.3.3.1 Government Policies, Market Liberalization, and Corporate Sustainability Initiatives to Drive Market
9.3.4 Australia
9.3.4.1 Clean Energy Transition Through Stcs and Lgcs to Foster Market Growth
9.3.5 Rest of Asia-Pacific
9.4 Europe
9.4.1 Germany
9.4.1.1 Corporate Sustainability Commitments to Drive Market
9.4.2 France
9.4.2.1 Enforcement of Energy Transition Laws to Reduce Carbon Emissions to Support Market Growth
9.4.3 Norway
9.4.3.1 Ambitious Climate Policies to Reduce Greenhouse Gas Emissions to Drive Market
9.4.4 Sweden
9.4.4.1 Investments in Wind, Biofuel, and Solar Energy Incentives to Boosts Demand
9.4.5 Spain
9.4.5.1 Reinforcement of Greener Energy Landscape to Foster Market Growth
9.4.6 Rest of Europe
9.5 RoW
9.5.1 Middle East & Africa
9.5.1.1 Green Infrastructure Investment to Fuel Market Growth
9.5.2 South America
9.5.2.1 Strong Focus on Contributing to Social and Environmental Sustainability to Boost Demand
10 Competitive Landscape
10.1 Overview
10.2 Key Player Strategies/Right to Win, 2020-2025
10.3 Market Ranking Analysis, 2024
10.4 Revenue Analysis, 2019-2023
10.5 Company Valuation and Financial Metrics
10.6 Product Comparison
10.7 Company Evaluation Matrix: Key Players, 2024
10.7.1 Stars
10.7.2 Emerging Leaders
10.7.3 Pervasive Players
10.7.4 Participants
10.7.5 Company Footprint: Key Players, 2024
10.7.5.1 Company Footprint
10.7.5.2 Region Footprint
10.7.5.3 Energy Type Footprint
10.7.5.4 End Use Footprint
10.8 Company Evaluation Matrix: Startups/SMEs, 2024
10.8.1 Progressive Companies
10.8.2 Responsive Companies
10.8.3 Dynamic Companies
10.8.4 Starting Blocks
10.8.5 Competitive Benchmarking: Startups/SMEs, 2024
10.8.5.1 Detailed List of Key Startups/SMEs
10.8.5.2 Competitive Benchmarking of Key Startups/SMEs
10.9 Competitive Scenario
10.9.1 Product Launches
10.9.2 Deals
10.9.3 Expansions
10.9.4 Other Developments
11 Company Profiles
11.1 Key Players
11.1.1 3Degrees, Inc.
11.1.1.1 Business Overview
11.1.1.2 Products/Services/Solutions Offered
11.1.1.3 Recent Developments
11.1.1.3.1 Deals
11.1.1.3.2 Expansions
11.1.1.4 Analyst's View
11.1.1.4.1 Key Strengths/Right to Win
11.1.1.4.2 Strategic Choices
11.1.1.4.3 Weaknesses/Competitive Threats
11.1.2 Statkraft
11.1.2.1 Business Overview
11.1.2.2 Products/Services/Solutions Offered
11.1.2.3 Recent Developments
11.1.2.3.1 Deals
11.1.2.4 Analyst's View
11.1.2.4.1 Key Strengths/Right to Win
11.1.2.4.2 Strategic Choices
11.1.2.4.3 Weaknesses/Competitive Threats
11.1.3 Enel Spa
11.1.3.1 Business Overview
11.1.3.2 Products/Services/Solutions Offered
11.1.3.3 Recent Developments
11.1.3.3.1 Deals
11.1.3.4 Analyst's View
11.1.3.4.1 Key Strengths/Right to Win
11.1.3.4.2 Strategic Choices
11.1.3.4.3 Weaknesses/Competitive Threats
11.1.4 Shell Energy
11.1.4.1 Business Overview
11.1.4.2 Products/Services/Solutions Offered
11.1.4.3 Recent Developments
11.1.4.3.1 Product Launches
11.1.4.3.2 Deals
11.1.4.4 Analyst's View
11.1.4.4.1 Key Strengths/Right to Win
11.1.4.4.2 Strategic Choices
11.1.4.4.3 Weakness/Competitive Threats
11.1.5 Edf Trading Limited
11.1.5.1 Business Overview
11.1.5.2 Products/Services/Solutions Offered
11.1.5.3 Recent Developments
11.1.5.3.1 Deals
11.1.5.4 Analyst's View
11.1.5.4.1 Key Strengths/Right to Win
11.1.5.4.2 Strategic Choices
11.1.5.4.3 Weaknesses/Competitive Threats
11.1.6 Engie
11.1.6.1 Business Overview
11.1.6.2 Products/Services/Solutions Offered
11.1.6.3 Recent Developments
11.1.6.3.1 Deals
11.1.7 Stx Group
11.1.7.1 Business Overview
11.1.7.2 Products/Services/Solutions Offered
11.1.7.3 Recent Developments
11.1.7.3.1 Deals
11.1.7.3.2 Expansions
11.1.8 South Pole
11.1.8.1 Business Overview
11.1.8.2 Products/Services/Solutions Offered
11.1.8.3 Recent Developments
11.1.8.3.1 Deals
11.1.9 Ecohz
11.1.9.1 Business Overview
11.1.9.2 Products/Services/Solutions Offered
11.1.9.3 Recent Developments
11.1.9.3.1 Deals
11.1.10 Redex
11.1.10.1 Business Overview
11.1.10.2 Products/Services/Solutions Offered
11.1.10.3 Recent Developments
11.1.10.3.1 Deals
11.1.11 Climate Impact Partners
11.1.11.1 Business Overview
11.1.11.2 Products/Services/Solutions Offered
11.1.12 Cnerg
11.1.12.1 Business Overview
11.1.12.2 Products/Services/Solutions Offered
11.1.12.3 Recent Developments
11.1.12.3.1 Deals
11.1.12.3.2 Other Developments
11.1.13 Sterling Planet
11.1.13.1 Business Overview
11.1.13.2 Products/Services/Solutions Offered
11.1.14 The Green Certificate Company
11.1.14.1 Business Overview
11.1.14.2 Products/Services/Solutions Offered
11.1.15 Ofgem
11.1.15.1 Business Overview
11.1.15.2 Products/Services/Solutions Offered
11.1.16 Grid-India
11.1.16.1 Business Overview
11.1.16.2 Products/Services/Solutions Offered
11.1.17 Saxon Renewables Pte. Ltd
11.1.17.1 Business Overview
11.1.17.2 Products/Services/Solutions Offered
11.1.17.3 Recent Developments
11.1.17.3.1 Deals
11.2 Other Players
11.2.1 Targray
11.2.2 Nextera Energy Resources, LLC.
11.2.3 Terrapass
11.2.4 Act
11.2.5 Afs
11.2.6 Evolugen
11.2.7 Native
11.2.8 Nvalue
12 Appendix
12.1 Insights from Industry Experts
12.2 Discussion Guide
12.3 Knowledgestore: The Subscription Portal
12.4 Customization Options
List of Tables
Table 1 List of Key Secondary Sources
Table 2 List of Primary Interview Participants
Table 3 Key Data from Primary Sources
Table 4 Renewable Energy Certificate Market: Risk Analysis
Table 5 Snapshot of Renewable Energy Certificate Market
Table 6 Corporate Climate Commitments: Goals, Targets, and Initiatives
Table 7 Role of Companies in Renewable Energy Certificate Ecosystem
Table 8 Indicative Pricing of Renewable Energy Certificates, by Energy Type, 2024 (USD/Mwh)
Table 9 Average Selling Price Trend of Renewable Energy Certificates, by Region, 2022-2024 (USD/Mwh)
Table 10 List of Patents, 2020-2025
Table 11 Renewable Energy Certificate Market:
List of Conferences and Events, 2025
Table 12 North America: Regulatory Bodies, Government Agencies, and Other Organizations
Table 13 Europe: Regulatory Bodies, Government Agencies, and Other Organizations
Table 14 Asia-Pacific: Regulatory Bodies, Government Agencies, and Other Organizations
Table 15 RoW: Regulatory Bodies, Government Agencies, and Other Organizations
Table 16 Renewable Energy Certificate Market: Porter's Five Forces Analysis
Table 17 Influence of Stakeholders on Buying Process, by End Use
Table 18 Key Buying Criteria for End Uses
Table 19 World GDP Growth, 2021-2028 (USD Trillion)
Table 20 Inflation Rate (Annual Percent Change), 2024
Table 21 Renewable Energy Certificate Market, by Capacity, 2022-2024 (USD Million)
Table 22 Renewable Energy Certificate Market, by Capacity, 2025-2030 (USD Million)
Table 23 Up to 1,000 kWh: Renewable Energy Certificate Market, by Region, 2022-2024 (USD Million)
Table 24 Up to 1,000 kWh: Renewable Energy Certificate Market, by Region, 2025-2030 (USD Million)
Table 25 1,001-5,000 kWh: Renewable Energy Certificate Market, by Region, 2022-2024 (USD Million)
Table 26 1,001-5,000 kWh: Renewable Energy Certificate Market, by Region, 2025-2030 (USD Million)
Table 27 Above 5,000 kWh: Renewable Energy Certificate Market, by Region, 2022-2024 (USD Million)
Table 28 Above 5,000 kWh: Renewable Energy Certificate Market, by Region, 2025-2030 (USD Million)
Table 29 Renewable Energy Certificate Market, by Energy Type, 2022-2024 (USD Million)
Table 30 Renewable Energy Certificate Market, by Energy Type, 2025-2030 (USD Million)
Table 31 Solar Power: Renewable Energy Certificate Market, by Region, 2022-2024 (USD Million)
Table 32 Solar Power: Renewable Energy Certificate Market, by Region, 2025-2030 (USD Million)
Table 33 Wind Power: Renewable Energy Certificate Market, by Region, 2022-2024 (USD Million)
Table 34 Wind Power: Renewable Energy Certificate Market, by Region, 2025-2030 (USD Million)
Table 35 Hydropower: Renewable Energy Certificate Market, by Region, 2022-2024 (USD Million)
Table 36 Hydropower: Renewable Energy Certificate Market, by Region, 2025-2030 (USD Million)
Table 37 Biomass: Renewable Energy Certificate Market, by Region, 2022-2024 (USD Million)
Table 38 Biomass: Renewable Energy Certificate Market, by Region, 2025-2030 (USD Million)
Table 39 Others: Renewable Energy Certificate Market, by Region, 2022-2024 (USD Million)
Table 40 Others: Renewable Energy Certificate Market, by Region, 2025-2030 (USD Million)
Table 41 Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 42 Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 43 Compliance: Renewable Energy Certificate Market, by Region, 2022-2024 (USD Million)
Table 44 Compliance: Renewable Energy Certificate Market, by Region, 2025-2030 (USD Million)
Table 45 Voluntary: Renewable Energy Certificate Market, by Region, 2022-2024 (USD Million)
Table 46 Voluntary: Renewable Energy Certificate Market, by Region, 2025-2030 (USD Million)
Table 47 Renewable Energy Certificate Market, by Region, 2022-2024 (USD Million)
Table 48 Renewable Energy Certificate Market, by Region, 2025-2030 (USD Million)
Table 49 Renewable Energy Certificate Market, by Region, 2022-2024 (Million Mwh)
Table 50 Renewable Energy Certificate Market, by Region, 2025-2030 (Million Mwh)
Table 51 North America: Renewable Energy Certificate Market, by Energy Type, 2022-2024 (USD Million)
Table 52 North America: Renewable Energy Certificate Market, by Energy Type, 2025-2030 (USD Million)
Table 53 North America: Renewable Energy Certificate Market, by Capacity, 2022-2024 (USD Million)
Table 54 North America: Renewable Energy Certificate Market, by Capacity, 2025-2030 (USD Million)
Table 55 North America: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 56 North America: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 57 North America: Renewable Energy Certificate Market, by Country, 2022-2024 (USD Million)
Table 58 North America: Renewable Energy Certificate Market, by Country, 2025-2030 (USD Million)
Table 59 US: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 60 US: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 61 Canada: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 62 Canada: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 63 Mexico: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 64 Mexico: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 65 Asia-Pacific: Renewable Energy Certificate Market, by Energy Type, 2022-2024 (USD Million)
Table 66 Asia-Pacific: Renewable Energy Certificate Market, by Energy Type, 2025-2030 (USD Million)
Table 67 Asia-Pacific: Renewable Energy Certificate Market, by Capacity, 2022-2024 (USD Million)
Table 68 Asia-Pacific: Renewable Energy Certificate Market, by Capacity, 2025-2030 (USD Million)
Table 69 Asia-Pacific: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 70 Asia-Pacific: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 71 Asia-Pacific: Renewable Energy Certificate Market, by Country, 2022-2024 (USD Million)
Table 72 Asia-Pacific: Renewable Energy Certificate Market, by Country, 2025-2030 (USD Million)
Table 73 China: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 74 China: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 75 India: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 76 India: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 77 Japan: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 78 Japan: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 79 Australia: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 80 Australia: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 81 Rest of Asia-Pacific: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 82 Rest of Asia-Pacific: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 83 Europe: Renewable Energy Certificate Market, by Energy Type, 2022-2024 (USD Million)
Table 84 Europe: Renewable Energy Certificate Market, by Energy Type, 2025-2030 (USD Million)
Table 85 Europe: Renewable Energy Certificate Market, by Capacity, 2022-2024 (USD Million)
Table 86 Europe: Renewable Energy Certificate Market, by Capacity, 2025-2030 (USD Million)
Table 87 Europe: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 88 Europe: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 89 Europe: Renewable Energy Certificate Market, by Country, 2022-2024 (USD Million)
Table 90 Europe: Renewable Energy Certificate Market, by Country, 2025-2030 (USD Million)
Table 91 Germany: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 92 Germany: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 93 France: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 94 France: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 95 Norway: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 96 Norway: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 97 Sweden: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 98 Sweden: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 99 Spain: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 100 Spain: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 101 Rest of Europe: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 102 Rest of Europe: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 103 RoW: Renewable Energy Certificate Market, by Energy Type, 2022-2024 (USD Million)
Table 104 RoW: Renewable Energy Certificate Market, by Energy Type, 2025-2030 (USD Million)
Table 105 RoW: Renewable Energy Certificate Market, by Capacity, 2022-2024 (USD Million)
Table 106 RoW: Renewable Energy Certificate Market, by Capacity, 2025-2030 (USD Million)
Table 107 RoW: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 108 RoW: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 109 RoW: Renewable Energy Certificate Market, by Region, 2022-2024 (USD Million)
Table 110 RoW: Renewable Energy Certificate Market, by Region, 2025-2030 (USD Million)
Table 111 Middle East & Africa: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 112 Middle East & Africa: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 113 South America: Renewable Energy Certificate Market, by End Use, 2022-2024 (USD Million)
Table 114 South America: Renewable Energy Certificate Market, by End Use, 2025-2030 (USD Million)
Table 115 Renewable Energy Certificate Market: Overview of Strategies Adopted by Key Players, January 2020-January 2025
Table 116 Renewable Energy Certificate Market: Region Footprint
Table 117 Renewable Energy Certificate Market: Energy Type Footprint
Table 118 Renewable Energy Certificate Market: End Use Footprint
Table 119 Renewable Energy Certificate Market: Detailed List of Key Startups/SMEs
Table 120 Renewable Energy Certificate Market: Competitive Benchmarking of Key Startups/SMEs
Table 121 Renewable Energy Certificate Market: Product Launches, January 2020-January 2025
Table 122 Renewable Energy Certificate Market: Deals, January 2020-January 2025
Table 123 Renewable Energy Certificate Market: Expansions, January 2020-January 2025
Table 124 Renewable Energy Certificate Market: Other Developments, January 2020-January 2025
Table 125 3Degrees, Inc.: Company Overview
Table 126 3Degrees, Inc.: Products/Services/Solutions Offered
Table 127 3Degrees, Inc.: Deals
Table 128 3Degrees, Inc.: Expansions
Table 129 Statkraft: Company Overview
Table 130 Statkraft: Products/Services/Solutions Offered
Table 131 Statkraft: Deals
Table 132 Enel Spa: Company Overview
Table 133 Enel Spa: Products/Services/Solutions Offered
Table 134 Enel Spa: Deals
Table 135 Shell Energy: Company Overview
Table 136 Shell Energy: Products/Services/Solutions Offered
Table 137 Shell Energy: Product Launches
Table 138 Shell Energy: Deals
Table 139 Edf Trading Limited: Company Overview
Table 140 Edf Trading Limited: Products/Services/Solutions Offered
Table 141 Edf Trading Limited: Deals
Table 142 Engie: Company Overview
Table 143 Engie: Products/Services/Solutions Offered
Table 144 Engie: Deals
Table 145 Stx Group: Company Overview
Table 146 Stx Group: Products/Services/Solutions Offered
Table 147 Stx Group: Deals
Table 148 Stx Group: Expansions
Table 149 South Pole: Company Overview
Table 150 South Pole: Products/Services/Solutions Offered
Table 151 South Pole: Deals
Table 152 Ecohz: Company Overview
Table 153 Ecohz: Products/Services/Solutions Offered
Table 154 Ecohz: Deals
Table 155 Redex: Company Overview
Table 156 Redex: Products/Services/Solutions Offered
Table 157 Redex: Deals
Table 158 Climate Impact Partners: Company Overview
Table 159 Climate Impact Partners: Products/Services/Solutions Offered
Table 160 Cnerg: Company Overview
Table 161 Cnerg: Products/Services/Solutions Offered
Table 162 Cnerg: Deals
Table 163 Cnerg: Other Developments
Table 164 Sterling Planet: Company Overview
Table 165 Sterling Planet: Products/Services/Solutions Offered
Table 166 The Green Certificate Company: Company Overview
Table 167 The Green Certificate Company: Products/Services/Solutions Offered
Table 168 Ofgem: Company Overview
Table 169 Ofgem: Products/Services/Solutions Offered
Table 170 Grid-India: Company Overview
Table 171 Grid-India: Products/Services/Solutions Offered
Table 172 Saxon Renewables Pte. Ltd.: Company Overview
Table 173 Saxon Renewables Pte. Ltd.: Products/Services/Solutions Offered
Table 174 Saxon Renewables Pte. Ltd.: Deals
List of Figures
Figure 1 Renewable Energy Certificate Market Segmentation and Regional Scope
Figure 2 Renewable Energy Certificate Market: Research Design
Figure 3 Key Data from Secondary Sources
Figure 4 Key Industry Insights
Figure 5 Breakdown of Primaries
Figure 6 Renewable Energy Certificate Market: Data Triangulation
Figure 7 Renewable Energy Certificate Market Size: Bottom-Up Approach
Figure 8 Renewable Energy Certificate Market: Top-Down Approach
Figure 9 Renewable Energy Certificate Market: Demand-Side Analysis
Figure 10 Key Metrics Considered to Assess Supply of Renewable Energy Certificates
Figure 11 Renewable Energy Certificate Market: Supply-Side Analysis
Figure 12 Solar Power Segment to Dominate Market Throughout Forecast Period
Figure 13 Above 5,000 kWh Segment to Lead Renewable Energy Certificate Market Throughout Forecast Period
Figure 14 Compliance Segment to Capture Larger Share of Renewable Energy Certificate Market in 2025
Figure 15 North America Accounted for Largest Share of Renewable Energy Certificate Market in 2024
Figure 16 Government Mandates and Corporate Strategies Toward Sustainability to Foster Market Growth
Figure 17 Compliance Segment and US Held Largest Share of North American Renewable Energy Certificate Market in 2024
Figure 18 Solar Power Segment to Account for Largest Market Share in 2030
Figure 19 Above 5,000 kWh Segment to Hold Largest Market Share in 2030
Figure 20 Compliance Segment to Lead Renewable Energy Certificate Market in 2030
Figure 21 Asia-Pacific Market to Register Highest CAGR During Forecast Period
Figure 22 Renewable Energy Certificate Market: Drivers, Restraints, Opportunities, and Challenges
Figure 23 Renewable Energy Capacity Growth, 2022 vs. 2030 (Gw)
Figure 24 Transaction Costs in US Renewable Energy Certificate Market
Figure 25 Global Investment in Clean Energy Projects, 2015-2024
Figure 26 Trends/Disruptions Influencing Customer Business
Figure 27 Renewable Energy Certificate Supply Chain
Figure 28 Renewable Energy Certificate Ecosystem Analysis
Figure 29 Average Selling Price Trend of Renewable Energy Certificates, by Region, 2022-2024
Figure 30 Patents Applied and Granted, 2015-2024
Figure 31 Investment and Funding Scenario in Renewable Energy Certificate Market, 2024
Figure 32 Porter's Five Forces Analysis for Renewable Energy Certificate Market
Figure 33 Influence of Stakeholders on Buying Process, by End Use
Figure 34 Key Buying Criteria for End Uses
Figure 35 Impact of Generative AI/AI on Major End-users, by Region
Figure 36 Renewable Energy Certificate Market Share, by Capacity, 2024
Figure 37 Renewable Energy Certificate Market Share, by Energy Type, 2024
Figure 38 Renewable Energy Certificate Market Share, by End Use, 2024
Figure 39 Renewable Energy Certificate Market Share, by Region, 2024
Figure 40 Asia-Pacific to Register Highest CAGR in Renewable Energy Certificate Market from 2025 to 2030
Figure 41 North America: Renewable Energy Certificate Market Snapshot
Figure 42 Asia-Pacific: Renewable Energy Certificate Market Snapshot
Figure 43 Revenue Analysis of Key Players in Renewable Energy Certificate Market, 2019-2023
Figure 44 Company Valuation
Figure 45 Financial Metrics (EV/EBITDA)
Figure 46 Product Comparison
Figure 47 Renewable Energy Certificate Market: Company Evaluation Matrix (Key Players), 2024
Figure 48 Renewable Energy Certificate Market Footprint
Figure 49 Renewable Energy Certificate Market: Company Footprint
Figure 50 Renewable Energy Certificate Market: Company Evaluation Matrix (Startups/SMEs), 2024
Figure 51 Enel Spa: Company Snapshot
Figure 52 Shell PLC: Company Snapshot
Figure 53 Edf: Company Snapshot
Figure 54 Engie: Company Snapshot
Figure 55 Grid-India: Company Snapshot

Companies Mentioned

  • 3Degrees, Inc.
  • Statkraft
  • Enel Spa
  • Shell Energy
  • Edf Trading Limited
  • Engie
  • Stx Group
  • South Pole
  • Ecohz
  • Redex
  • Climate Impact Partners
  • Cnerg
  • Sterling Planet
  • The Green Certificate Company
  • Ofgem
  • Grid-India
  • Saxon Renewables Pte. Ltd
  • Targray
  • Nextera Energy Resources, LLC.
  • Terrapass
  • Act
  • Afs
  • Evolugen
  • Native
  • Nvalue

Table Information

Report AttributeDetails
No. of Pages203
PublishedApril 2025
Forecast Period2025 - 2030
Estimated Market Value ( USD ) in 2025 $ 27.99 Billion
Forecasted Market Value ( USD ) by 2030 $ 45.45 Billion
Compound Annual Growth Rate10.2%
Regions CoveredGlobal
No. of Companies Mentioned25

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About the Renewable Energy Certificates Market

Renewable Energy Certificates (RECs), also known as green certificates, green tags, or tradable renewable certificates, are market-based instruments that certify the bearer owns one megawatt-hour (MWh) of electricity generated from a renewable energy resource. The REC market is integral to the promotion of renewable energy sources as it provides a mechanism for purchasers to support renewable energy production and claim its environmental benefits. The market operates alongside the energy market where electricity is sold separately from its environmental attributes. Once the renewable energy is fed into the grid, the corresponding RECs can be sold and traded independently, offering flexibility in how renewable energy is incentivized and tracked. Businesses and individuals buy RECs to mitigate their own electricity consumption, achieve sustainability goals, and demonstrate environmental stewardship. Regulatory frameworks often influence the structure of the REC market, with variations existing between voluntary and mandatory markets. Within the REC market, several notable companies specialize in trading, consulting, and providing exchange platforms. Examples include TerraPass, 3Degrees, and Renewable Choice Energy which engage in the sale and marketing of RECs. Other players like Green-e provide certification for RECs to ensure they meet certain environmental and consumer protection standards. Additionally, large renewable energy companies such as NextEra Energy, Iberdrola, and Vestas may participate indirectly by producing renewable energy that generates RECs, thus contributing to the market's supply side. Show Less Read more

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