Renewable Energy Certificates Market Report 2026

The renewable energy certificates market size has grown exponentially in recent years. It will grow from $22.55 billion in 2025 to $29.05 billion in 2026 at a compound annual growth rate (CAGR) of 28.8%. The growth in the historic period can be attributed to initial establishment of renewable portfolio standards, early corporate sustainability commitments, growth of wind and solar capacity additions, introduction of market based emission reduction tools, rise in voluntary green power purchasing.

The renewable energy certificates market size is expected to see exponential growth in the next few years. It will grow to $70.56 billion in 2030 at a compound annual growth rate (CAGR) of 24.8%. The growth in the forecast period can be attributed to expansion of international renewable certificate markets, increasing regulatory pressure for decarbonization, growth of corporate net zero targets, rising demand for transparent rec tracking platforms, increasing cross border renewable energy procurement. Major trends in the forecast period include increasing corporate demand for renewable energy procurement, growing adoption of market based instruments for emission reduction, rising participation in voluntary renewable energy programs, expansion of cross border renewable certificate trading, advancements in verification and tracking mechanisms for recs.

The rising consumption of renewable energy sources is expected to drive the growth of the renewable energy certificate market going forward. Renewable energy refers to naturally replenished sources such as sunlight, wind, water, and organic materials that are continuously available. Renewable energy certificates support renewable energy use by enabling market transactions, ensuring compliance with renewable energy targets, and allowing organizations to make verified environmental claims. For example, in April 2025, the International Renewable Energy Agency (IRENA), a UAE-based intergovernmental organization, reported that global renewable power capacity grew by 585 GW in a single year, marking a record 15.1% annual increase and surpassing the 14.3% growth recorded in 2023. Therefore, the rising consumption of renewable energy sources is fueling the growth of the renewable energy certificate market.

Leading companies in the renewable energy certificate market are focusing on innovative solutions to meet the growing demand for renewable energy and support decarbonization efforts. These solutions, such as renewable energy certificate services, provide certificates representing the environmental attributes of renewable electricity generation. They enable individuals and organizations to claim the environmental benefits of renewable electricity usage. For example, in February 2023, Shizen Energy Inc. launched a renewable energy certificate (REC) service that offers certificates, including non-fossil energy certificates with tracking, in alignment with international sustainability standards such as RE100 and CDP. These services aim to provide an accessible and cost-effective way for companies to demonstrate their use of renewable energy and initiate decarbonization efforts.

In November 2023, E&C Consultants partnered with Veyt, a global data hub, to empower clients in their decarbonization efforts. This collaboration provides transparent pricing information and market intelligence for renewable energy certificates and low-carbon markets, enabling clients to make informed decisions. E&C Consultants, based in Belgium, offers renewable certificates, while Veyt, headquartered in Norway, specializes in insights for carbon markets and renewable energy.

Major companies operating in the renewable energy certificates market are NextEra Energy Resources LLC, Statkraft AS, U.S. Environment Protection Agency, EDF Renewables Inc., Western Area Power Administration, Green Mountain Energy Company, Carbon Clear, 3Degrees Group Inc., Central Electricity Regulatory Commission, Clean Power Research, Element Markets LLC, Renewable Choice Energy Inc., Community Energy Inc., Innovative Solar Systems, The CarbonNeutral Company, Green-e Energy, General Services Administration, Sterling Planet Inc., Sustainable Energy Advantage LLC, 3 Phases Renewables, NeXtWind Management GmbH, Environmental Tracking Network of North America, Defense Logistics Agency Energy, RECS International.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs on renewable energy components such as solar panels, wind turbines, and power electronics indirectly influence the REC market by increasing project development costs and slowing capacity additions that generate eligible certificates. Regions heavily dependent on imported renewable technologies, including North America and parts of Europe, experience slower REC supply growth and higher certificate prices. However, tariffs can also stimulate domestic renewable manufacturing, leading to long term improvements in regional REC availability and diversification of supply sources.

The renewable energy certificates market research report is one of a series of new reports that provides renewable energy certificates market statistics, including renewable energy certificates industry global market size, regional shares, competitors with a renewable energy certificates market share, detailed renewable energy certificates market segments, market trends and opportunities, and any further data you may need to thrive in the renewable energy certificates industry. This renewable energy certificates market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Renewable energy certificates (RECs) are tradeable certificates that signify the environmental attributes of electricity generated from renewable energy sources. They serve various purposes related to promoting renewable energy, reducing greenhouse gas emissions, and verifying the environmental benefits associated with renewable electricity production.

The primary energy types covered by renewable energy certificates include wind power, solar energy, gas power, and hydroelectric power. Wind power involves the conversion of wind energy into usable energy, typically electricity, using wind turbines. It encompasses different capacities, such as 0-1000 kWh, 1000-5000 kWh, and greater than 5000 kWh, and is utilized by various end-users, including compliance and voluntary participants.North America was the largest region in the renewable energy certificates market in 2025. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the renewable energy certificates market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the renewable energy certificates market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The renewable energy certificate market includes revenues earned by entities by services such as energy security, energy access, price stability, and educational and awareness services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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