Role of Renewable Energy Certificates in Developing New Renewable Energy Projects

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For more than a decade, renewable energy certificates (RECs) have grown in use, becoming a common way to track ownership of the renewable and environmental attributes of renewable electricity generation. In recent years, however, questions have risen about the role RECs play in the decision to build new renewable energy projects. Information from a variety of market participants suggests that the importance of RECs in building new projects varies depending on a number of factors, including electricity market prices, the cost-competitiveness of the project, the presence or absence of public policies supportive of new projects, contract duration, and the perspective ... continued below

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59 pp.

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Holt, E.; Sumner, J. & Bird, L. June 1, 2011.

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Description

For more than a decade, renewable energy certificates (RECs) have grown in use, becoming a common way to track ownership of the renewable and environmental attributes of renewable electricity generation. In recent years, however, questions have risen about the role RECs play in the decision to build new renewable energy projects. Information from a variety of market participants suggests that the importance of RECs in building new projects varies depending on a number of factors, including electricity market prices, the cost-competitiveness of the project, the presence or absence of public policies supportive of new projects, contract duration, and the perspective of different market participants. While there is no single answer to the role that RECs play, there are situations in which REC revenues are essential to project economics, as well as some where REC revenues may have little impact. To strengthen the role RECs play in both compliance and voluntary markets, there are a number of options that could be considered. In compliance markets, lawmakers or regulators would have to adopt measures that strengthen the role of RECs in the development of new projects, while in voluntary markets, it would be up to program leaders and market participants themselves to implement measures.

Physical Description

59 pp.

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  • Report No.: NREL/TP-6A20-51904
  • Grant Number: AC36-08GO28308
  • DOI: 10.2172/1018490 | External Link
  • Office of Scientific & Technical Information Report Number: 1018490
  • Archival Resource Key: ark:/67531/metadc846346

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Office of Scientific & Technical Information Technical Reports

Reports, articles and other documents harvested from the Office of Scientific and Technical Information.

Office of Scientific and Technical Information (OSTI) is the Department of Energy (DOE) office that collects, preserves, and disseminates DOE-sponsored research and development (R&D) results that are the outcomes of R&D projects or other funded activities at DOE labs and facilities nationwide and grantees at universities and other institutions.

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Creation Date

  • June 1, 2011

Added to The UNT Digital Library

  • May 19, 2016, 3:16 p.m.

Description Last Updated

  • Dec. 7, 2016, 8:50 p.m.

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Holt, E.; Sumner, J. & Bird, L. Role of Renewable Energy Certificates in Developing New Renewable Energy Projects, report, June 1, 2011; Golden, Colorado. (digital.library.unt.edu/ark:/67531/metadc846346/: accessed November 21, 2018), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.