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可再生能源证书/信用额度（REC）市场－全球及区域分析：按应用、产品和地区划分－分析与预测（2025-2035）
市场调查报告书
商品编码
1876446

可再生能源证书/信用额度（REC）市场－全球及区域分析：按应用、产品和地区划分－分析与预测（2025-2035）

Renewable Energy Certificate/Credit (REC) Market - A Global and Regional Analysis: Focus on Application, Product, and Regional Analysis - Analysis and Forecast, 2025-2035
出版日期: | 出版商: BIS Research | 英文 194 Pages | 商品交期: 1-5个工作天内

价格

预计到 2024 年，全球可再生能源证书/信用市场规模将达到 27,503,377,400 美元，在 2025-2035 年预测期内，复合年增长率将达到 6.85%。

市场成长的驱动力来自全球加速向可再生能源转型、企业永续性倡议的加强以及为支持绿色能源应用而日益严格的监管要求。各组织越来越多地参与自愿性可再生能源采购计划和碳抵消倡议，进一步推动了市场扩张。此外，数位追踪系统、基于区块链的检验以及跨境交易平台的进步提高了透明度和营运效率。可再生能源证书（REC）框架与国家可再生能源目标的协调一致，以及即时发电数据的日益整合，正在提升可追溯性和合规性。在持续创新、政策协调和可再生能源发电扩张的推动下，预计到2035年，全球可再生能源证书/信用市场将保持持续成长，REC将稳固确立其作为推动全球清洁能源转型关键机制的地位。

关键市场统计数据
预测期 2025-2035
2025 年评估 30,648,906,000 美元
2035 年预测 59,459,783,800 美元
复合年增长率 6.85%

介绍可再生能源认证

BIS Research 的一项研究表明，可再生能源证书是加速全球工业、商业和住宅领域向清洁能源和永续性转型的重要机制。它们作为一种检验的手段，能够证明可再生再生能源生产和消费的真实性，使企业和公共产业能够为其绿色能源声明提供佐证。市场成长的驱动因素包括企业对碳中和承诺的不断增加、政府可再生能源强制性政策的出台以及消费者对透明检验的可再生能源采购的需求。数位追踪技术、区块链整合和自动化技术的进步正在增强证书生态系统内的可追溯性和课责。透过支持自愿性和监管性可再生能源采购，可再生能源证书正在促进市场主导的脱碳进程，并支持新增可再生能源发电产能的投资。该系统有助于各国实现净零排放目标，加强企业永续发展资讯揭露，并确保整个能源价值链的课责。随着能源系统向去中心化数位化方向发展，可再生能源证书正在成为全球清洁能源管治的基石，将可再生能源发电与检验的环境影响和长期气候责任联繫起来。

市场介绍

随着各国、企业和公共产业加强实现可再生能源和减碳目标，全球可再生能源证书/信用市场持续快速扩张。这些证书作为一种可交易的手段，用于验证来自风能、太阳能、水力发电和生物质能等再生能源来源的发电量，从而推动了受监管市场和自愿性市场的成长。国际社会日益增强的脱碳努力，以及企业可再生能源采购计划，正在推动已开发经济体和新兴经济体的需求。各国政府正在引入可再生能源组合标准、绿色溢价和跨境交易机制，以刺激可再生能源投资和市场流动性。区块链註册系统和基于时间的匹配系统等技术创新，正在提高证书发行和兑换的透明度和课责。

此外，企业越来越多地参与可再生能源购电协议（PPA）和永续发展挂钩能源采购，也推动了市场扩张。北美、欧洲和亚太地区主导这一趋势，其中亚太地区尤其有望实现强劲成长，这得益于中国、印度、日本和韩国等国的政策倡议。随着清洁能源转型加速，全球可再生能源证书/信用市场正成为全球可再生能源生态系统的核心支柱，促进可追溯的绿色电力采购，提升气候变迁报告的可信度，并支持世界向永续的低碳能源未来转型。

对产业的影响

可再生能源证书的日益普及正在改变电力生产、製造业、科技和企业永续发展等产业的营运模式。这些证书使各行业无需直接取得实际的再生能源再生能源的使用，遵守环境法规，并实现企业脱碳目标。在能源和公共产业领域，可再生能源证书正在推动新的风能、太阳能和水力发电计划的开发，提高计划的资金筹措，并提供额外的收入来源以吸引绿色投资。製造商和资料中心营运商正在利用可再生能源证书来抵消高碳密集型的电力消耗，展示其在实现净零排放取得的进展，并满足环境、社会和管治(ESG) 标准。

对于跨国公司而言，可再生能源证书是管理其能源组合、确保可再生属性以及增强其永续性报告可信度的重要合规和自愿工具。在长期购电协议 (LPA) 中日益普及的捆绑式证书进一步确保了可再生能源采购的可追溯性和检验，尤其是在科技、通讯和重工业等行业。区块链和数位追踪系统也为这一行业转型提供了支持，从而提高了可再生能源交易的透明度并实现了即时检验。

国际可再生能源证书能够加速跨境贸易，打造流动性强的可再生能源属性市场，并促进新兴经济体对可再生能源的投资。透过将可再生能源证书纳入采购和报告策略，各行业不仅可以减少营运排放，还能增强自身竞争力，提升投资者信心，并更好地与全球永续性目标保持一致。总体而言，全球可再生能源证书/信用市场正在透过将经济成长与可衡量的气候责任和可再生能源的扩张联繫起来，从而改变行业的能源实践。

市场区隔:

细分 1：按应用

  • 基于合规性的可再生能源证书（REC）
  • 自愿REC

合规型再生能源证书预计将在全球可再生能源证书/信用市场（按应用领域划分）占据主导地位。

预计2035年，合规性可再生能源证书将主导全球市场，约占市场总价值的55%至60%。这些证书是根据可再生能源组合标准（RPS）或美国、欧洲、印度和澳洲等地区类似的可再生能源义务而强制要求的。来自强制性公用事业公司、公共产业和大型工业用户的稳定需求，确保了合规性证书相比自愿性证书具有更强的市场流动性和价格稳定性。光是在美国，2024年就将有超过4.7亿张合规性证书到期失效，反映出各州可再生能源目标的稳定提升。强有力的政策执行、违规处罚以及针对特定技术的豁免（例如太阳能和一级证书）继续维持主要市场的价格溢价。此外，印度和中国等新兴经济体加强了可再生能源采购义务，进一步推动了合规性证书的需求。随着世界各国政府将可再生能源目标扩大到 2030 年及以后，可再生能源证书合规性预计将继续成为市场的主要驱动力，为可再生能源计划开发商提供稳定的收入来源。

细分 2：按交易类型

  • 捆绑式可再生能源证书（REC）
  • 非捆绑式可再生能源证书

按交易类型划分：捆绑式可再生能源证书在全球市场主导

捆绑式可再生能源证书（透过购电协议 (PPA) 或公共产业绿色电价与再生能源一同出售）预计将在交易类型上占据市场主导地位，到 2035 年将占市场总收入的约三分之二。对捆绑式采购日益增长的偏好反映了买家对额外性、可追溯性和检验的影响的重视。跨国公司，尤其是科技和製造企业，优先考虑长期购电协议，这些协议能够同时确保再生能源和相应的证书，从而保证成本稳定和其可再生能源声明的可信度。在美国，2024 年超过 70% 的企业可再生能源交易都包含捆绑式证书。类似的趋势正在欧洲透过原产地保证 (GO) 支持的企业购电协议以及在亚洲透过日本的非化石能源证书竞标而扩展。按小时匹配和基于区块链的追踪技术的出现进一步提高了捆绑式交易的透明度和课责。随着企业永续发展策略朝着全天候无碳能源目标发展，捆绑式可再生能源证书交易有望成为已开发市场和新兴市场中最可信、最有影响力的采购机制。

细分3：按资源类型

  • 太阳能可再生能源证书（太阳能REC）
  • 风能可再生能源证书
  • 水力发电REC
  • 生质可再生能源证书
  • 其他的

按资源类型划分，风能可再生能源证书（REC）预计将引领全球可再生能源证书/信用市场。

预计从2025年到2035年，风能可再生能源证书将引领市场，成为各类资源中最有价值的证书。这主要得益于风力发电在全球可再生能源发电中的主导地位及其高成本效益。 2024年，风电在全球可再生能源证书发行量中约占37%，超过了太阳能和水力发电。风电计划的经济性和扩充性，尤其是在北美、欧洲和印度，使得风能证书成为监管市场和自愿市场中交易量最大的类别。由于风能证书的易得性和其对大规模永续性的适用性，越来越多的企业倾向于选择风能证书。美国、中国和北海等地区高容量陆上和离岸风力发电的持续扩张进一步巩固了供应基础。涡轮机设计和数位化监控技术的进步正在降低发电成本并提高透明度。到 2035 年，风能可再生能源证书预计将继续保持领先地位，这主要得益于离岸风电投资的成长以及发电数据整合到即时证书追踪平台中。

细分 4：按地区

  • 北美洲：美国、加拿大、墨西哥
  • 欧洲：德国、法国、英国、义大利、西班牙等
  • 亚太地区：中国、日本、印度、澳洲、韩国等地区
  • 其他地区：南美洲、中东和非洲

亚太地区预计将主导全球可再生能源证书/信用市场，其中韩国预计将成为区域领导者。这一增长得益于雄心勃勃的可再生能源目标、先进的数位基础设施以及政府主导的强有力的碳中和发展倡议。中国、日本和韩国等国家正透过国家强制规定、企业永续性措施以及扩大绿电跨境贸易，引领可再生能源的普及应用。可再生能源发电能力的扩张，特别是太阳能、风能和生质能的扩张，正在推动合规市场和自愿市场对可再生能源证书的需求。此外，数位化交易平台和政府主导的碳中和框架的采用，正在提高市场透明度、效率和投资者信心。随着亚太地区持续推动可再生能源转型和区域合作，预计它将继续保持全球可再生能源证书创新和交易中心的地位。

需求——驱动因素、限制因素、机会

市场需求：加强可再生能源强制政策与目标

在全球可再生能源强制规定和清洁能源目标日益增多的推动下，全球可再生能源证书（REC）市场持续保持强劲成长。各国政府和监管机构纷纷推出雄心勃勃的可再生能源组合标准和净零排放目标，鼓励公私部门采用可再生能源。可再生能源证书（REC）已成为一种重要的市场机制，用于证明企业履行这些义务，同时提升可再生能源采购的透明度。企业永续发展措施的不断拓展和自愿购买REC的快速成长进一步强化了市场需求。随着各国致力于电力产业的脱碳进程，强制性和自愿性REC框架的建立将继续成为加速全球可再生能源普及的关键驱动力。

市场挑战：监理不确定性与政策转变

强い势いがあるにもかかわらず、世界の可再生エネルギー认证书/クレジット市场は、一贯性のない政策枠组みや规制の不确定性に起因する课题に直面しています。频繁な政策転换、可再生エネルギー竞标の遅延、政府の优先事项の変化は、投资家の信頼を损ない、市场の安定性を损なう可能性があります。一部の地域では、クリーンエネルギー优遇措置の突然の撤回や、国境を越えたRECs取引に関する不明确な规则が、市场参与企业に不确定性をもたらしています。さらに、管辖区域ごとに异なる可再生エネルギー认证书（REC）の基准や定义は、市场の调和を复雑にし、利害相关人员がコンプライアンス要件を顺守することを困难にしております。こうした不整合は、长期计画に影响を与えるだけでなく、可再生エネルギー计划の扩充性を制限します。これらの政策上のギャップに対处し、透明性が高く安定した管治を确保することは、市场の信頼を维持し、可再生エネルギーの継続的な拡大を支援する上で极めて重要です。

市场机会：跨国国际贸易的扩张

随着可再生能源市场日益全球化，跨境再生能源证书交易蕴藏着巨大的机会。随着企业和国家寻求在境外实现永续性目标，对国际认可且可交易的可再生能源证书的需求日益增长。认证标准的协调统一以及各国间核准协议的推进将开闢新的市场前景，使一个地区的剩余可再生能源产量能够抵消另一个地区的碳排放。这种跨国扩张不仅将提高再生能源证书交易的流动性和透明度，还将促进国际社会在实现气候目标方面的合作。此外，数位交易平台和基于区块链的检验系统的发展有望进一步简化国际再生能源证书交易，使全球可再生能源采购更加高效便捷。

产品与创新策略：在全球可再生能源证书和信用市场，各公司正着力于创新和技术整合，以巩固其在不断发展的可再生能源环境中的地位。数位转型和透明度是这些策略的核心，关键创新集中在基于区块链的追踪系统、自动化註册平台以及人工智慧驱动的检验工具上，以确保可再生能源交易的真实性和可追溯性。市场参与者正投资开发数位化市场，以促进可再生能源证书的即时交易、价格透明化和跨境互换。云端基础基础设施和分散式帐本技术的应用有助于提高营运效率并降低管理成本。此外，各公司正积极推动将可再生能源证书与企业永续发展报告和碳核算系统结合，使企业能够更有效地实现净零排放和ESG目标。证书发行机构、技术供应商和能源生产商之间的策略合作正在推动扩充性、安全且互通性的交易平台的发展，从而促进全球可再生能源生态系统的信任和成长。

全球可再生能源证书和信用市场拥有强劲的成长潜力，这主要得益于策略性的市场扩张、政策协调和技术应用。各公司正积极寻求地域多角化和跨境贸易，以掌握北美、欧洲和亚太地区可再生能源发展机会。市场参与企业致力于产品差异化，为每种能源来源（太阳能、风能、水力、生质能等）提供客製化的证书组合，以适应不同的法规结构和企业永续发展政策。併购和伙伴关係在增强技术能力和开拓高需求市场方面发挥核心作用，尤其是在可再生能源目标加速实现的地区。各公司也透过提升透明度、可追溯性和环境责任感来加强行销，以吸引寻求可靠绿色能源解决方案的机构投资者和个人消费者。与监管机构和可再生能源协会的合作使公司能够影响新兴市场结构和合规机制。随着全球对检验、可交易的可再生能源解决方案的需求不断增长，那些实施稳健成长和行销策略的公司将占据有利地位，主导市场进入下一阶段的扩张。

竞争策略：在全球可再生能源证书/信用市场，各参与者正利用创新、策略联盟和市场整合来增强自身竞争优势。 Statkraft AS、NextEra Energy Resources, LLC (NEER) 和 Enel Green Power SpA 等主要参与企业强调平台扩充性、可靠的检验和全球市场准入是关键的差异化因素。对数位化检验技术和透明交易系统的关注，透过优先考虑信任、效率和环境影响，正在重塑竞争格局。证书发行机构、可再生能源发电和企业永续发展平台之间的策略联盟，正在建立一个能够满足多样化合规要求和自愿性市场需求的综合生态系统。市场领导领导者正在扩展其服务范围，例如可再生能源采购组合管理、自动化合规报告和数据分析，以帮助企业简化其永续发展营运。此外，竞争差异化越来越依赖那些能够提升信任度和促进认证交易参与度的因素，例如数据透明度、互通性和用户体验。随着全球永续发展努力的加强，能够有效结合技术、可靠性和策略一致性的公司，很可能在快速成长的全球可再生能源证书和信用市场中保持强大的竞争优势。

全球可再生能源证书/信用市场的主要企业包括：

  • Adani Green Energy Limited (AGEL)
  • Brookfield Renewable Partners LP
  • China Three Gorges Corporation (CTG)
  • EDF Renewables
  • ENGIE SA
  • Enel Green Power SpA
  • Iberdrola, SA
  • Invenergy LLC
  • Masdar
  • NextEra Energy Resources, LLC (NEER)
  • Orsted A/S
  • Scatec ASA
  • Statkraft AS
  • Tata Power Renewable Energy Limited (TPREL)
  • TotalEnergies SE

《全球可再生能源证书市场报告》的各个章节（如适用）也全面涵盖了不属于上述集团公司的企业。

目录

执行摘要

范围和定义

第一章 市场：产业展望

  • 趋势：现况及未来影响评估
    • 碳市场一体化与范围 2课责
    • 数位证书和细粒度证书（全天候可再生能源匹配）
    • 亚太地区和新兴跨境市场的爆炸性成长
  • 供应链概览
    • 相关利益者生态系概览
    • 客户洞察和购买行为
    • 案例研究和最佳实践
    • 定价分析
  • 市场动态概述
    • 市场驱动因素
    • 市场挑战
    • 市场机会
  • Start-Ups的现状

第二章可再生能源证书/信用市场（按申请）

  • 使用摘要
  • 按市场类型分類的可再生能源证书/信用市场
    • 相容的REC
    • 自愿REC

第三章可再生能源证书和信用市场（按产品划分）

  • 产品摘要
  • 可再生能源证书和信用市场（按交易类型划分）
    • 捆绑 REC
    • 未捆绑的REC
  • 可再生能源证书/信用市场（按资源类型划分）
    • 太阳能REC
    • 风能回收
    • 水力发电REC
    • 生物质REC
    • 其他的

第四章 区域

  • 区域摘要
  • 北美洲
    • 区域概览
    • 市场成长驱动因素
    • 成长抑制因素
    • 美国
    • 加拿大
    • 墨西哥
  • 欧洲
    • 区域概览
    • 市场成长驱动因素
    • 成长抑制因素
    • 德国
    • 法国
    • 英国
    • 义大利
    • 西班牙
    • 其他的
  • 亚太地区
    • 区域概览
    • 市场成长驱动因素
    • 成长抑制因素
    • 中国
    • 日本
    • 印度
    • 韩国
    • 澳洲
    • 其他的
  • 其他地区
    • 区域概览
    • 市场成长驱动因素
    • 成长抑制因素
    • 南美洲
    • 中东和非洲

第五章 公司简介

  • Statkraft AS
  • NextEra Energy Resources, LLC
  • Enel SpA（Enel Green Power）
  • ENGIE SA
  • Adani Green Energy Ltd
  • Iberdrola, SA
  • Brookfield Renewable Partners LP
  • TotalEnergies SE
  • Invenergy LLC
  • EDF Renewables
  • The Tata Power Company Limited
  • Masdar
  • Orsted A/S
  • Scatec ASA
  • China Three Gorges Corp

第六章调查方法

Product Code: MSG3406SA

This report can be delivered within 1 working day.

Global Renewable Energy Certificate/Credit Market Overview

The global renewable energy certificate/credit market was valued at $27,503,377.4 thousand in 2024 and is projected to grow at a CAGR of 6.85% during the forecast period 2025-2035. Market growth is driven by the accelerating global transition toward renewable energy, rising corporate sustainability commitments, and increasing regulatory mandates supporting green power adoption. The growing participation of organizations in voluntary renewable procurement programs and carbon offset initiatives is further fueling market expansion. Additionally, advancements in digital tracking systems, blockchain-based verification, and cross-border trading platforms are enhancing transparency and operational efficiency. The alignment of REC frameworks with national renewable energy targets and the integration of real-time generation data are improving traceability and compliance. Supported by continuous innovation, policy harmonization, and expanding renewable generation capacity, the global renewable energy certificate/credit market is expected to witness sustained growth through 2035, positioning RECs as a pivotal mechanism in advancing the global clean energy transition.

KEY MARKET STATISTICS
Forecast Period2025 - 2035
2025 Evaluation$30,648,906.0 Thousand
2035 Forecast$59,459,783.8 Thousand
CAGR6.85%

Introduction of Renewable Energy Certificates

The study conducted by BIS Research identifies the renewable energy certificates as a critical mechanism for accelerating the global transition toward clean energy and sustainability across industrial, commercial, and residential sectors. Renewable energy certificates serve as verified instruments that represent proof of renewable electricity generation and consumption, allowing businesses and utilities to substantiate their green energy claims. The market's growth has been driven by increasing corporate commitments to carbon neutrality, government renewable energy mandates, and consumer demand for transparent, verifiable renewable sourcing. Advancements in digital tracking, blockchain integration, and automation are enhancing traceability and accountability within the certificate ecosystem. By enabling both voluntary and compliance-based renewable procurement, renewable energy certificates are fostering market-driven decarbonization and facilitating investment in new renewable generation capacity. The system supports countries in achieving net-zero targets, strengthens corporate sustainability disclosures, and ensures accountability across the energy value chain. As energy systems evolve toward decentralization and digitization, renewable energy certificates are emerging as a cornerstone of global clean energy governance, linking renewable generation with verifiable environmental impact and long-term climate responsibility.

Market Introduction

The global renewable energy certificate/credit market has been experiencing rapid expansion as nations, corporations, and utilities intensify efforts to meet renewable energy and carbon reduction targets. These certificates function as tradable instruments that verify electricity generation from renewable sources such as wind, solar, hydro, and biomass, driving both compliance and voluntary market growth. Growing international commitments to decarbonization, along with corporate renewable procurement programs, are fueling demand across developed and emerging economies. Governments are introducing renewable portfolio standards, green premium programs, and cross-border trading mechanisms to stimulate renewable investment and market liquidity. Technological advancements, including blockchain-enabled registries and hourly matching systems, are improving transparency and accountability in certificate issuance and retirement.

The market's expansion is further supported by rising corporate participation in renewable power purchase agreements and sustainability-linked energy sourcing. Regions such as North America, Europe, and Asia-Pacific are leading adoption, with Asia-Pacific positioned for strong growth due to policy momentum in countries like China, India, Japan, and South Korea. As clean energy transitions gain pace, the global renewable energy certificate/credit market is becoming a central pillar of the global renewable ecosystem, facilitating traceable green power procurement, enhancing climate reporting credibility, and supporting the world's transition toward a sustainable, low-carbon energy future.

Industrial Impact

The growing adoption of renewable energy certificate mechanisms is reshaping industrial operations across power generation, manufacturing, technology, and corporate sustainability sectors. These certificates are enabling industries to validate their renewable electricity use, align with environmental regulations, and meet corporate decarbonization targets without direct access to physical renewable power. In the energy and utilities sector, renewable energy certificates are driving the development of new wind, solar, and hydro projects by providing an additional revenue stream that improves project bankability and attracts green investment. Manufacturers and data center operators are leveraging renewable energy certificates to offset carbon-intensive electricity use, demonstrating progress toward net-zero emissions and meeting environmental, social, and governance (ESG) standards.

For multinational corporations, renewable energy certificates serve as an essential compliance and voluntary tool to manage energy portfolios, secure renewable attributes, and strengthen sustainability reporting credibility. The growing use of bundled certificates within long-term power purchase agreements further ensures traceable and verifiable renewable sourcing, particularly in sectors such as technology, telecommunications, and heavy industry. This industrial transition is also supported by blockchain and digital tracking systems, which provide greater transparency and real-time validation of renewable energy transactions.

According to the International Renewable Energy Agency (IRENA) and market operators such as I-REC and Green-e, renewable energy certificates are accelerating cross-border trade, creating liquid renewable attribute markets, and stimulating renewable investments across emerging economies. As industries increasingly integrate renewable energy certificates into procurement and reporting strategies, they are not only reducing operational emissions but also enhancing competitiveness, investor confidence, and global sustainability alignment. Overall, the global renewable energy certificate/credit market is transforming industrial energy practices by linking economic growth with measurable climate responsibility and renewable expansion.

Market Segmentation:

Segmentation 1: by Application

  • Compliance RECs
  • Voluntary RECs

Compliance RECs to Dominate the Global Renewable Energy Certificate/Credit Market (by Application)

Compliance renewable energy certificates are projected to dominate the global market through 2035, accounting for approximately 55% to 60% of the total market value. These certificates are mandated under renewable portfolio standards or equivalent renewable energy obligations across regions such as the U.S., Europe, India, and Australia. Consistent demand from obligated entities, utilities, retailers, and large industrial consumers ensures strong market liquidity and price stability compared to voluntary certificates. In 2024, over 470 million compliance certificates were retired in the U.S. alone, reflecting steady growth in state-level renewable targets. Strong policy enforcement, compliance penalties, and technology-specific carve-outs, such as solar or tier-I certificates, continue to sustain price premiums in key markets. Furthermore, emerging economies like India and China are tightening renewable purchase obligations, further driving compliance-based demand. As global governments scale renewable energy ambitions toward 2030 and beyond, compliance with renewable energy certificates is expected to remain the market's primary growth driver, providing stable revenue streams for renewable project developers.

Segmentation 2: by Transaction Type

  • Bundled RECs
  • Unbundled RECs

Bundled RECs to Dominate the Global Renewable Energy Certificate/Credit Market (by Transaction Type)

Bundled renewable energy certificates, which are sold together with renewable electricity through power purchase agreements or utility green tariffs, are expected to dominate the market by transaction type, contributing nearly two-thirds of total market revenue by 2035. The increasing preference for bundled procurement reflects buyers' focus on additionality, traceability, and verified impact. Multinational corporations, particularly in technology and manufacturing, are prioritizing long-term power purchase agreements that secure both renewable electricity and corresponding certificates, ensuring cost stability and credibility in renewable energy claims. In the U.S., over 70% of corporate renewable deals in 2024 included bundled certificates. Similar trends are gaining traction in Europe through Guarantee of Origin-backed corporate PPAs and in Asia via Japan's non-fossil certificate auctions. The emergence of hourly matching and blockchain-based tracking is further strengthening transparency and accountability in bundled transactions. As corporate sustainability strategies advance toward 24/7 carbon-free energy goals, bundled renewable energy certificates are positioned to become the most credible and impactful procurement mechanism across both developed and emerging markets.

Segmentation 3: by Resource Type

  • Solar RECs
  • Wind RECs
  • Hydro RECs
  • Biomass RECs
  • Others

Wind RECs to Dominate the Global Renewable Energy Certificate/Credit Market (by Resource Type)

Wind-based renewable energy certificates are expected to lead the market by resource type from 2025 to 2035, driven by wind energy's dominant share in global renewable generation and its strong cost efficiency. In 2024, wind power represented about 37% of all renewable certificate issuances worldwide, surpassing solar and hydro resources. The affordability and scalability of wind projects, particularly across North America, Europe, and India, have positioned wind-based certificates as the most traded category in both compliance and voluntary markets. Corporations increasingly favor wind-based certificates for their accessibility and suitability for large-scale sustainability commitments. Continued expansion of high-capacity onshore and offshore wind farms in regions such as the U.S., China, and the North Sea is further strengthening supply. Technological advancements in turbine design and digital monitoring are reducing generation costs and improving transparency. By 2035, wind-based renewable energy certificates are expected to remain the leading resource segment, supported by growing offshore investments and real-time integration of generation data into certificate tracking platforms.

Segmentation 4: by Region

  • North America: U.S., Canada, and Mexico
  • Europe: Germany, France, U.K., Italy, Spain, and Rest-of-Europe
  • Asia-Pacific: China, Japan, India, Australia, South Korea, and Rest-of-Asia-Pacific
  • Rest-of-the-World: South America and Middle East and Africa

Asia-Pacific is expected to dominate the global renewable energy certificate/credit market, with South Korea emerging as the regional leader. This growth is driven by ambitious renewable energy targets, advanced digital infrastructure, and strong government initiatives supporting carbon-neutral development. Countries such as China, Japan, and South Korea are leading in renewable adoption through national mandates, corporate sustainability commitments, and expanding cross-border trade in green power. The region's growing renewable generation capacity, particularly in solar, wind, and biomass, is driving high demand for renewable energy certificates across both compliance and voluntary markets. Additionally, the introduction of digital trading platforms and government-led carbon neutrality frameworks is improving market transparency, efficiency, and investor confidence. As the Asia-Pacific region continues to advance its renewable energy transition and regional cooperation, it is expected to remain the global center for renewable energy certificate innovation and exchange.

Demand - Drivers, Limitations, and Opportunities

Market Demand Driver: Strengthening Renewable Energy Mandates and Targets

The global renewable energy certificate/credit market has been experiencing strong growth driven by the increasing implementation of renewable energy mandates and clean energy targets worldwide. Governments and regulatory bodies are introducing ambitious renewable portfolio standards and net-zero emission goals, encouraging both public and private sectors to adopt renewable energy solutions. Renewable energy certificates (RECs) have emerged as an essential market-based mechanism that allows organizations to demonstrate compliance with these mandates while promoting transparency in renewable energy sourcing. The expansion of corporate sustainability commitments and the rapid growth of voluntary REC purchases further strengthen market demand. As nations work toward decarbonizing their power sectors, the establishment of mandatory and voluntary REC frameworks continues to serve as a key driver for accelerating renewable energy deployment globally.

Market Challenge: Regulatory Uncertainty and Policy Reversals

Despite strong momentum, the global renewable energy certificate/credit market faces challenges stemming from inconsistent policy frameworks and regulatory uncertainty. Frequent policy shifts, delays in renewable energy auctions, and changing government priorities can undermine investor confidence and disrupt market stability. In some regions, sudden reversals of clean energy incentives or unclear rules regarding cross-border REC trading create uncertainty for market participants. Additionally, varying standards and definitions of RECs across jurisdictions complicate market harmonization, making it difficult for stakeholders to navigate compliance requirements. These inconsistencies not only affect long-term planning but also limit the scalability of renewable energy projects. Addressing these policy gaps and ensuring transparent, stable governance are critical to sustaining market confidence and supporting continuous renewable energy expansion.

Market Opportunity: Cross-Border and International Trade Expansions

The growing globalization of renewable energy markets presents a significant opportunity for cross-border and international trade of renewable energy certificates. As corporations and countries strive to achieve sustainability goals beyond domestic boundaries, the demand for internationally recognized and tradable RECs is increasing. Harmonizing certification standards and facilitating mutual recognition agreements between countries can unlock new market potential, allowing surplus renewable energy production in one region to offset carbon footprints elsewhere. This cross-border expansion not only enhances liquidity and transparency in REC trading but also encourages international collaboration toward climate targets. Moreover, the development of digital trading platforms and blockchain-based verification systems is expected to further streamline international REC transactions, making global renewable energy procurement more efficient and accessible.

How can this report add value to an organization?

Product/Innovation Strategy: In the global renewable energy certificate/credit market, companies are emphasizing innovation and technological integration to strengthen their position in the evolving renewable energy landscape. Digital transformation and transparency are central to these strategies, with key innovations focusing on blockchain-based tracking systems, automated registry platforms, and artificial intelligence-enabled verification tools that ensure the authenticity and traceability of renewable energy transactions. Market players are investing in the development of digital marketplaces that facilitate real-time trading, pricing visibility, and cross-border compatibility of renewable energy certificates. The adoption of cloud-based infrastructure and decentralized ledger technologies is enhancing operational efficiency and reducing administrative costs. Additionally, companies are promoting the integration of renewable energy certificates with corporate sustainability reporting and carbon accounting systems to enable organizations to meet net-zero and ESG goals more efficiently. Strategic collaborations between certificate issuers, technology providers, and energy producers are driving the evolution of scalable, secure, and interoperable trading platforms, fostering confidence and growth in the global renewable energy ecosystem.

Growth/Marketing Strategy: The global renewable energy certificate/credit market presents strong growth potential through strategic market expansion, policy alignment, and technological adoption. Companies are pursuing regional diversification and cross-border trading to capitalize on increasing renewable energy commitments across North America, Europe, and the Asia-Pacific. Market participants are focusing on product differentiation by offering customized certificate bundles for solar, wind, hydro, and biomass energy sources, aligning with diverse regulatory and corporate sustainability frameworks. Mergers, acquisitions, and partnerships are central to strengthening technological capabilities and expanding into high-demand markets where renewable energy targets are accelerating. Companies are also enhancing their marketing initiatives by promoting transparency, traceability, and environmental accountability, appealing to both institutional buyers and individual consumers seeking credible green energy solutions. Collaborative efforts with regulatory bodies and renewable energy associations are enabling firms to influence emerging market structures and compliance mechanisms. As global demand for verifiable and tradeable renewable energy solutions increases, companies implementing robust growth and marketing strategies will be well-positioned to lead the market's next phase of expansion.

Competitive Strategy: In the global renewable energy certificate/credit market, companies are leveraging innovation, strategic partnerships, and market integration to strengthen their competitive positioning. Leading players such as Statkraft AS, NextEra Energy Resources, LLC (NEER), and Enel Green Power S.p.A. are focusing on platform scalability, verification integrity, and global market access as key differentiators. The emphasis on digital verification technologies and transparent trading systems is reshaping competition by prioritizing trust, efficiency, and environmental impact. Strategic alliances between certificate issuers, renewable energy generators, and corporate sustainability platforms are enabling the creation of integrated ecosystems that cater to diverse compliance and voluntary market requirements. Market leaders are also expanding their service offerings to include portfolio management, automated compliance reporting, and data analytics for renewable energy sourcing, helping organizations streamline sustainability operations. Furthermore, competitive differentiation increasingly depends on data transparency, interoperability, and user experience, factors that enhance trust and participation in certificate trading. As sustainability commitments intensify worldwide, companies that effectively combine technology, credibility, and strategic collaboration will likely maintain a strong competitive edge in the rapidly growing global renewable energy certificate/credit market.

Research Methodology

Factors for Data Prediction and Modelling

  • The base currency considered for the global renewable energy certificate/credit market analysis is the US$. Currencies other than the US$ have been converted to US$ for all statistical calculations, considering the average conversion rate for that particular year.
  • The currency conversion rate has been taken from the historical exchange rate on the Oanda website.
  • Nearly all the recent developments from January 2021 to September 2025 have been considered in this research study.
  • The information rendered in the report is a result of in-depth primary interviews, surveys, and secondary analysis.
  • Where relevant information was not available, proxy indicators and extrapolation were employed.
  • Any economic downturn in the future has not been taken into consideration for the market estimation and forecast.
  • Technologies currently used are expected to persist through the forecast with no major technological breakthroughs.

Market Estimation and Forecast

This research study involves the usage of extensive secondary sources, such as certified publications, articles from recognized authors, white papers, annual reports of companies, directories, and major databases, to collect useful and effective information for an extensive, technical, market-oriented, and commercial study of the global renewable energy certificate/credit market.

The market engineering process involves the calculation of the market statistics, market size estimation, market forecast, market breakdown, and data triangulation (the methodology for such quantitative data processes has been explained in further sections). The primary research study has been undertaken to gather information and validate the market numbers for segmentation types and industry trends of the key players in the market.

Primary Research

The primary sources for this study include industry experts and key stakeholders across the global renewable energy certificate/credit market ecosystem. Respondents such as chief executive officers, vice presidents, market development heads, sustainability officers, and technology directors were interviewed to gather and validate both qualitative and quantitative insights. These interviews helped ensure accuracy, depth, and relevance in understanding the market's current dynamics, competitive landscape, and future growth opportunities.

The key data points obtained from primary sources include:

  • validation and triangulation of all numerical data, charts, and projections
  • verification of report segmentations and qualitative findings
  • insights into the competitive environment and strategic positioning of key players
  • validation of market figures across different certificate types and trading mechanisms
  • percentage split and contribution of individual regional markets for comparative analysis

Secondary Research

The secondary research component involved extensive use of credible databases, company reports, and industry publications to ensure comprehensive coverage of the global renewable energy certificate/credit market. Sources included platforms such as Bloomberg, Factiva, Hoovers, and Businessweek, along with government and institutional databases such as the International Renewable Energy Agency (IRENA), the International Energy Agency (IEA), and national energy departments. This secondary research provided valuable insights into policy frameworks, pricing mechanisms, and market development patterns across regions.

The study also leveraged official reports, trade association data, and academic research to map the value chain, understand revenue models, and identify both current and emerging use cases.

The key data points obtained from secondary research include:

  • market segmentation and percentage distribution across regions and certificate types
  • data related to market valuation and trading volume
  • analysis of leading industry trends and developments among top market participants
  • qualitative insights into policy evolution, corporate sustainability initiatives, and technological advancements
  • quantitative data used for economic modeling, forecasting, and statistical validation

Key Market Players and Competition Synopsis

The companies that are profiled in the global renewable energy certificate/credit market have been selected based on inputs gathered from primary experts, who have analyzed company coverage, product portfolio, and market penetration.

Some of the prominent names in the global renewable energy certificate/credit market are:

  • Adani Green Energy Limited (AGEL)
  • Brookfield Renewable Partners L.P.
  • China Three Gorges Corporation (CTG)
  • EDF Renewables
  • ENGIE SA
  • Enel Green Power S.p.A.
  • Iberdrola, S.A.
  • Invenergy LLC
  • Masdar
  • NextEra Energy Resources, LLC (NEER)
  • Orsted A/S
  • Scatec ASA
  • Statkraft AS
  • Tata Power Renewable Energy Limited (TPREL)
  • TotalEnergies SE

Companies that are not a part of the aforementioned pool have been well represented across different sections of the global renewable energy certificate market report (wherever applicable).

Table of Contents

Executive Summary

Scope and Definition

1 Market: Industry Outlook

  • 1.1 Trends: Current and Future Impact Assessment
    • 1.1.1 Integration with Carbon Markets and Scope 2 Accountability
    • 1.1.2 Digital and Granular Certificates (24/7 Renewable Energy Matching)
    • 1.1.3 Explosive Growth in APAC and Emerging Cross-Border Markets
  • 1.2 Supply Chain Overview
    • 1.2.1 Stakeholder Ecosystem Snapshot
    • 1.2.2 Customer Insights and Buying Behavior
    • 1.2.3 Case Study and Best Practices
    • 1.2.4 Pricing Analysis
  • 1.3 Market Dynamics Overview
    • 1.3.1 Market Drivers
      • 1.3.1.1 Strengthening Renewable Energy Mandates and Targets
      • 1.3.1.2 Corporate Sustainability and ESG Commitments
      • 1.3.1.3 Falling Costs of Renewables and Energy Transition Investments
    • 1.3.2 Market Challenges
      • 1.3.2.1 Regulatory Uncertainty and Policy Reversals
      • 1.3.2.2 Oversupply and Low Certificate Prices
    • 1.3.3 Market Opportunities
      • 1.3.3.1 Cross-Border and International Trade Expansions
  • 1.4 Startup Landscape

2 Renewable Energy Certificate/Credit Market (by Application)

  • 2.1 Application Summary
  • 2.2 Renewable Energy Certificate/Credit Market (by Market Type)
    • 2.2.1 Compliance RECs
    • 2.2.2 Voluntary RECs

3 Renewable Energy Certificate/Credit Market (by Product)

  • 3.1 Product Summary
  • 3.2 Renewable Energy Certificate/Credit Market (by Transaction Type)
    • 3.2.1 Bundled RECs
    • 3.2.2 Unbundled RECs
  • 3.3 Renewable Energy Certificate/Credit Market (by Resource Type)
    • 3.3.1 Solar RECs
    • 3.3.2 Wind RECs
    • 3.3.3 Hydro RECs
    • 3.3.4 Biomass RECs
    • 3.3.5 Others

4 Region

  • 4.1 Regional Summary
  • 4.2 North America
    • 4.2.1 Regional Overview
    • 4.2.2 Driving Factors for Market Growth
    • 4.2.3 Factors Challenging the Market
      • 4.2.3.1 Application
      • 4.2.3.2 Product
    • 4.2.4 U.S.
      • 4.2.4.1 Application
      • 4.2.4.2 Product
    • 4.2.5 Canada
      • 4.2.5.1 Application
      • 4.2.5.2 Product
    • 4.2.6 Mexico
      • 4.2.6.1 Application
      • 4.2.6.2 Product
  • 4.3 Europe
    • 4.3.1 Regional Overview
    • 4.3.2 Driving Factors for Market Growth
    • 4.3.3 Factors Challenging the Market
      • 4.3.3.1 Application
      • 4.3.3.2 Product
    • 4.3.4 Germany
      • 4.3.4.1 Application
      • 4.3.4.2 Product
    • 4.3.5 France
      • 4.3.5.1 Application
      • 4.3.5.2 Product
    • 4.3.6 U.K.
      • 4.3.6.1 Application
      • 4.3.6.2 Product
    • 4.3.7 Italy
      • 4.3.7.1 Application
      • 4.3.7.2 Product
    • 4.3.8 Spain
      • 4.3.8.1 Application
      • 4.3.8.2 Product
    • 4.3.9 Rest-of-Europe
      • 4.3.9.1 Application
      • 4.3.9.2 Product
  • 4.4 Asia-Pacific
    • 4.4.1 Regional Overview
    • 4.4.2 Driving Factors for Market Growth
    • 4.4.3 Factors Challenging the Market
      • 4.4.3.1 Application
      • 4.4.3.2 Product
    • 4.4.4 China
      • 4.4.4.1 Application
      • 4.4.4.2 Product
    • 4.4.5 Japan
      • 4.4.5.1 Application
      • 4.4.5.2 Product
    • 4.4.6 India
      • 4.4.6.1 Application
      • 4.4.6.2 Product
    • 4.4.7 South Korea
      • 4.4.7.1 Application
      • 4.4.7.2 Product
    • 4.4.8 Australia
      • 4.4.8.1 Application
      • 4.4.8.2 Product
    • 4.4.9 Rest-of-Asia-Pacific
      • 4.4.9.1 Application
      • 4.4.9.2 Product
  • 4.5 Rest-of-the-World
    • 4.5.1 Regional Overview
    • 4.5.2 Driving Factors for Market Growth
    • 4.5.3 Factors Challenging the Market
      • 4.5.3.1 Application
      • 4.5.3.2 Product
    • 4.5.4 South America
      • 4.5.4.1 Application
      • 4.5.4.2 Product
    • 4.5.5 Middle East and Africa
      • 4.5.5.1 Application
      • 4.5.5.2 Product

5 Company Profiles

  • 5.1 Statkraft AS
    • 5.1.1 Overview
    • 5.1.2 Top Products/Product Portfolio
    • 5.1.3 Top Competitors
    • 5.1.4 Target Customers
    • 5.1.5 Key Personnel
    • 5.1.6 Analyst View
    • 5.1.7 Market Share, 2024
  • 5.2 NextEra Energy Resources, LLC
    • 5.2.1 Overview
    • 5.2.2 Top Products/Product Portfolio
    • 5.2.3 Top Competitors
    • 5.2.4 Target Customers
    • 5.2.5 Key Personnel
    • 5.2.6 Analyst View
    • 5.2.7 Market Share, 2024
  • 5.3 Enel S.p.A. (Enel Green Power)
    • 5.3.1 Overview
    • 5.3.2 Top Products/Product Portfolio
    • 5.3.3 Top Competitors
    • 5.3.4 Target Customers
    • 5.3.5 Key Personnel
    • 5.3.6 Analyst View
    • 5.3.7 Market Share, 2024
  • 5.4 ENGIE SA
    • 5.4.1 Overview
    • 5.4.2 Top Products/Product Portfolio
    • 5.4.3 Top Competitors
    • 5.4.4 Target Customers
    • 5.4.5 Key Personnel
    • 5.4.6 Analyst View
    • 5.4.7 Market Share, 2024
  • 5.5 Adani Green Energy Ltd
    • 5.5.1 Overview
    • 5.5.2 Top Products/Product Portfolio
    • 5.5.3 Top Competitors
    • 5.5.4 Target Customers
    • 5.5.5 Key Personnel
    • 5.5.6 Analyst View
    • 5.5.7 Market Share, 2024
  • 5.6 Iberdrola, S.A.
    • 5.6.1 Overview
    • 5.6.2 Top Products/Product Portfolio
    • 5.6.3 Top Competitors
    • 5.6.4 Target Customers
    • 5.6.5 Key Personnel
    • 5.6.6 Analyst View
    • 5.6.7 Market Share, 2024
  • 5.7 Brookfield Renewable Partners L.P.
    • 5.7.1 Overview
    • 5.7.2 Top Products/Product Portfolio
    • 5.7.3 Top Competitors
    • 5.7.4 Target Customers
    • 5.7.5 Key Personnel
    • 5.7.6 Analyst View
    • 5.7.7 Market Share, 2024
  • 5.8 TotalEnergies SE
    • 5.8.1 Overview
    • 5.8.2 Top Products/Product Portfolio
    • 5.8.3 Top Competitors
    • 5.8.4 Target Customers
    • 5.8.5 Key Personnel
    • 5.8.6 Analyst View
    • 5.8.7 Market Share, 2024
  • 5.9 Invenergy LLC
    • 5.9.1 Overview
    • 5.9.2 Top Products/Product Portfolio
    • 5.9.3 Top Competitors
    • 5.9.4 Target Customers
    • 5.9.5 Key Personnel
    • 5.9.6 Analyst View
    • 5.9.7 Market Share, 2024
  • 5.1 EDF Renewables
    • 5.10.1 Overview
    • 5.10.2 Top Products/Product Portfolio
    • 5.10.3 Top Competitors
    • 5.10.4 Target Customers
    • 5.10.5 Key Personnel
    • 5.10.6 Analyst View
    • 5.10.7 Market Share, 2024
  • 5.11 The Tata Power Company Limited
    • 5.11.1 Overview
    • 5.11.2 Top Products/Product Portfolio
    • 5.11.3 Top Competitors
    • 5.11.4 Target Customers
    • 5.11.5 Key Personnel
    • 5.11.6 Analyst View
    • 5.11.7 Market Share, 2024
  • 5.12 Masdar
    • 5.12.1 Overview
    • 5.12.2 Top Products/Product Portfolio
    • 5.12.3 Top Competitors
    • 5.12.4 Target Customers
    • 5.12.5 Key Personnel
    • 5.12.6 Analyst View
    • 5.12.7 Market Share, 2024
  • 5.13 Orsted A/S
    • 5.13.1 Overview
    • 5.13.2 Top Products/Product Portfolio
    • 5.13.3 Top Competitors
    • 5.13.4 Target Customers
    • 5.13.5 Key Personnel
    • 5.13.6 Analyst View
    • 5.13.7 Market Share, 2024
  • 5.14 Scatec ASA
    • 5.14.1 Overview
    • 5.14.2 Top Products/Product Portfolio
    • 5.14.3 Top Competitors
    • 5.14.4 Target Customers
    • 5.14.5 Key Personnel
    • 5.14.6 Analyst View
    • 5.14.7 Market Share, 2024
  • 5.15 China Three Gorges Corp
    • 5.15.1 Overview
    • 5.15.2 Top Products/Product Portfolio
    • 5.15.3 Top Competitors
    • 5.15.4 Target Customers
    • 5.15.5 Key Personnel
    • 5.15.6 Analyst View
    • 5.15.7 Market Share, 2024

6 Research Methodology

  • 6.1 Data Sources
    • 6.1.1 Primary Data Sources
    • 6.1.2 Secondary Data Sources
    • 6.1.3 Data Triangulation
  • 6.2 Market Estimation and Forecast

List of Figures

  • Figure 1: Renewable Energy Certificate/Credit Market (by Scenario), $Thousand, 2024, 2030, and 2035
  • Figure 2: Global Renewable Energy Certificate/Credit Market , 2024 and 2035
  • Figure 3: Top Countries, Global Renewable Energy Certificate/Credit Market , $Thousand, 2024
  • Figure 4: Global Market Snapshot, 2024
  • Figure 5: Global Renewable Energy Certificate/Credit Market , $Thousand, 2024 and 2035
  • Figure 6: Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024, 2030, and 2035
  • Figure 7: Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024, 2030, and 2035
  • Figure 8: Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024, 2030, and 2035
  • Figure 9: Renewable Energy Certificate/Credit Market Segmentation
  • Figure 10: Solar Energy Storage Innovation
  • Figure 11: Carbon-Neutral Factories Initiative
  • Figure 12: Solar PPA for Renewable Supply
  • Figure 13: Smart Renewable Energy Strategy
  • Figure 14: Social Impact Renewable Procurement
  • Figure 15: Multi-year Renewable Energy Commitment
  • Figure 16: Global Renewable Energy Certificate/Credit Market (by Market Type), GWh, 2024, 2030, and 2035
  • Figure 17: Global Renewable Energy Certificate/Credit Market (by Market Type), $Thousand, 2024, 2030, and 2035
  • Figure 18: Global Renewable Energy Certificate/Credit Market (Compliance RECs), Country-Wise, Volume, GWh, 2024
  • Figure 19: Global Renewable Energy Certificate/Credit Market (Compliance RECs), Country-Wise, Value, $Thousand, 2024
  • Figure 20: Global Renewable Energy Certificate/Credit Market (Compliance RECs), Volume, GWh, 2024-2035
  • Figure 21: Global Renewable Energy Certificate/Credit Market (Compliance RECs), Value, $Thousand, 2024-2035
  • Figure 22: Global Renewable Energy Certificate/Credit Market (Voluntary RECs), Country-Wise, Volume, GWh, 2024
  • Figure 23: Global Renewable Energy Certificate/Credit Market (Voluntary RECs), Country-Wise, Value, $Thousand, 2024
  • Figure 24: Global Renewable Energy Certificate/Credit Market (Voluntary RECs), Volume, GWh, 2024-2035
  • Figure 25: Global Renewable Energy Certificate/Credit Market (Voluntary RECs), Value, $Thousands, 2024-2035
  • Figure 26: Global Renewable Energy Certificate/Credit Market (by Transaction Type), Volume, GWh, 2024, 2030, and 2035
  • Figure 27: Global Renewable Energy Certificate/Credit Market (by Transaction Type), Value, $Thousand, 2024, 2030, and 2035
  • Figure 28: Global Renewable Energy Certificate/Credit Market (by Resource Type), Volume, GWh, 2024, 2030, and 2035
  • Figure 29: Global Renewable Energy Certificate/Credit Market (by Resource Type), Value, $Thousand, 2024, 2030, and 2035
  • Figure 30: Global Renewable Energy Certificate/Credit Market (Bundled RECs), Country-Wise, Volume, GWh, 2024
  • Figure 31: Global Renewable Energy Certificate/Credit Market (Bundled RECs), Country-Wise, Value, $Thousand, 2024
  • Figure 32: Global Renewable Energy Certificate/Credit Market (Bundled RECs), Volume, GWh, 2024-2035
  • Figure 33: Global Renewable Energy Certificate/Credit Market (Bundled RECs), Value, $Thousand, 2024-2035
  • Figure 34: Global Renewable Energy Certificate/Credit Market (Unbundled RECs), Country-Wise, Volume, GWh, 2024
  • Figure 35: Global Renewable Energy Certificate/Credit Market (Unbundled RECs), Country-Wise, Value, $Thousand, 2024
  • Figure 36: Global Renewable Energy Certificate/Credit Market (Unbundled RECs), Volume, GWh, 2024-2035
  • Figure 37: Global Renewable Energy Certificate/Credit Market (Unbundled RECs), Value, $Thousand, 2024-2035
  • Figure 38: Global Renewable Energy Certificate/Credit Market (Solar RECs), Country-Wise, Volume, GWh, 2024
  • Figure 39: Global Renewable Energy Certificate/Credit Market (Solar RECs), Country-Wise, Value, $Thousand, 2024
  • Figure 40: Global Renewable Energy Certificate/Credit Market (Solar RECs), Volume, GWh, 2024-2035
  • Figure 41: Global Renewable Energy Certificate/Credit Market (Solar RECs), Value, $Thousand, 2024-2035
  • Figure 42: Global Renewable Energy Certificate/Credit Market (Wind RECs), Country-Wise, Volume, GWh, 2024
  • Figure 43: Global Renewable Energy Certificate/Credit Market (Wind RECs), Country-Wise, Value, $Thousand, 2024
  • Figure 44: Global Renewable Energy Certificate/Credit Market (Wind RECs), Volume, GWh, 2024-2035
  • Figure 45: Global Renewable Energy Certificate/Credit Market (Wind RECs), Value, $Thousand, 2024-2035
  • Figure 46: Global Renewable Energy Certificate/Credit Market (Hydro RECs), Country-Wise, Volume, GWh, 2024
  • Figure 47: Global Renewable Energy Certificate/Credit Market (Hydro RECs), Country-Wise, Value, $Thousand, 2024
  • Figure 48: Global Renewable Energy Certificate/Credit Market (Hydro RECs), Volume, GWh, 2024-2035
  • Figure 49: Global Renewable Energy Certificate/Credit Market (Hydro RECs), Value, $Thousand, 2024-2035
  • Figure 50: Global Renewable Energy Certificate/Credit Market (Biomass RECs), Country-Wise, Volume, GWh, 2024
  • Figure 51: Global Renewable Energy Certificate/Credit Market (Biomass RECs), Country-Wise, Value, $Thousand, 2024
  • Figure 52: Global Renewable Energy Certificate/Credit Market (Biomass RECs), Volume, GWh, 2024-2035
  • Figure 53: Global Renewable Energy Certificate/Credit Market (Biomass RECs), Value, $Thousand, 2024-2035
  • Figure 54: Global Renewable Energy Certificate/Credit Market (Others), Country-Wise, Volume, GWh, 2024
  • Figure 55: Global Renewable Energy Certificate/Credit Market (Others), Country-Wise, Value, $Thousand, 2024
  • Figure 56: Global Renewable Energy Certificate/Credit Market (Others), Volume, GWh, 2024-2035
  • Figure 57: Global Renewable Energy Certificate/Credit Market (Others), Value, $Thousand, 2024-2035
  • Figure 58: U.S. Renewable Energy Certificate/Credit Market, $Thousand, 2024-2035
  • Figure 59: Canada Renewable Energy Certificate/Credit Market, $Thousand, 2024-2035
  • Figure 60: Mexico Renewable Energy Certificate/Credit Market, $Thousand, 2024-2035
  • Figure 61: Germany Renewable Energy Certificate/Credit Market , $Thousand, 2024-2035
  • Figure 62: France Renewable Energy Certificate/Credit Market, $Thousand, 2024-2035
  • Figure 63: U.K. Renewable Energy Certificate/Credit Market, $Thousand, 2024-2035
  • Figure 64: Italy Renewable Energy Certificate/Credit Market, $Thousand, 2024-2035
  • Figure 65: Spain Renewable Energy Certificate/Credit Market, $Thousand, 2024-2035
  • Figure 66: Rest-of-Europe Renewable Energy Certificate/Credit Market, $Thousand, 2024-2035
  • Figure 67: China Renewable Energy Certificate/Credit Market, $Thousand, 2024-2035
  • Figure 68: Japan Renewable Energy Certificate/Credit Market, $Thousand, 2024-2035
  • Figure 69: India Renewable Energy Certificate/Credit Market , $Thousand, 2024-2035
  • Figure 70: South Korea Renewable Energy Certificate/Credit Market, $Thousand, 2024-2035
  • Figure 71: Australia Renewable Energy Certificate/Credit Market, $Thousand, 2024-2035
  • Figure 72: Rest-of-Asia-Pacific Renewable Energy Certificate/Credit Market, $Thousand, 2024-2035
  • Figure 73: South America Renewable Energy Certificate/Credit Market, $Thousand, 2024-2035
  • Figure 74: Middle East and Africa Renewable Energy Certificate/Credit Market, $Thousand, 2024-2035
  • Figure 75: Data Triangulation
  • Figure 76: Top-Down and Bottom-Up Approach
  • Figure 77: Assumptions and Limitations

List of Tables

  • Table 1: Market Snapshot
  • Table 2: Global REC Stakeholder Ecosystem Overview (2025)
  • Table 3: Procurement Mechanisms
  • Table 4: Purchase Decision Criteria
  • Table 5: Implications for Market Participants
  • Table 6: Regional REC Price Comparison
  • Table 7: Global Renewable Energy Certificate/Credit Market (by Region), GWh, 2024-2035
  • Table 8: Global Renewable Energy Certificate/Credit Market (by Region), $Thousand, 2024-2035
  • Table 9: Global Renewable Energy Certificate/Credit (REC) Market (by Application), GWh, 2024-2035
  • Table 10: Global Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 11: Global Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 12: Global Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 13: Global Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 14: Global Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 15: North America Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 16: North America Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 17: North America Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 18: North America Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 19: North America Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 20: North America Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 21: U.S. Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 22: U.S. Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 23: U.S. Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 24: U.S. Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 25: U.S. Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 26: U.S. Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 27: Canada Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 28: Canada Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 29: Canada Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 30: Canada Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 31: Canada Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 32: Canada Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 33: Mexico Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 34: Mexico Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 35: Mexico Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 36: Mexico Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 37: Mexico Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 38: Mexico Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 39: Europe Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 40: Europe Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 41: Europe Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 42: Europe Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 43: Europe Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 44: Europe Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 45: Germany Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 46: Germany Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 47: Germany Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 48: Germany Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 49: Germany Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 50: Germany Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 51: France Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 52: France Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 53: France Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 54: France Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 55: France Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 56: France Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 57: U.K. Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 58: U.K. Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 59: U.K. Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 60: U.K. Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 61: U.K. Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 62: U.K. Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 63: Italy Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 64: Italy Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 65: Italy Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 66: Italy Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 67: Italy Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 68: Italy Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 69: Spain Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 70: Spain Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 71: Spain Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 72: Spain Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 73: Spain Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 74: Spain Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 75: Rest-of-Europe Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 76: Rest-of-Europe Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 77: Rest-of-Europe Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 78: Rest-of-Europe Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 79: Rest-of-Europe Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 80: Rest-of-Europe Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 81: Asia-Pacific Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 82: Asia-Pacific Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 83: Asia-Pacific Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 84: Asia-Pacific Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 85: Asia-Pacific Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 86: Asia-Pacific Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 87: China Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 88: China Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 89: China Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 90: China Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 91: China Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 92: China Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 93: Japan Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 94: Japan Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 95: Japan Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 96: Japan Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 97: Japan Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 98: Japan Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 99: India Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 100: India Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 101: India Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 102: India Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 103: India Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 104: India Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 105: South Korea Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 106: South Korea Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 107: South Korea Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 108: South Korea Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 109: South Korea Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 110: South Korea Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 111: Australia Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 112: Australia Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 113: Australia Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 114: Australia Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 115: Australia Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 116: Australia Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 117: Rest-of-Asia-Pacific Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 118: Rest-of-Asia-Pacific Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 119: Rest-of-Asia-Pacific Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 120: Rest-of-Asia-Pacific Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 121: Rest-of-Asia-Pacific Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 122: Rest-of-Asia-Pacific Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 123: Rest-of-the-World Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 124: Rest-of-the-World Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 125: Rest-of-the-World Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 126: Rest-of-the-World Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 127: Rest-of-the-World Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 128: Rest-of-the-World Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 129: South America Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 130: South America Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 131: South America Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 132: South America Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 133: South America Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 134: South America Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035
  • Table 135: Middle East and Africa Renewable Energy Certificate/Credit Market (by Application), GWh, 2024-2035
  • Table 136: Middle East and Africa Renewable Energy Certificate/Credit Market (by Application), $Thousand, 2024-2035
  • Table 137: Middle East and Africa Renewable Energy Certificate/Credit Market (by Transaction Type), GWh, 2024-2035
  • Table 138: Middle East and Africa Renewable Energy Certificate/Credit Market (by Transaction Type), $Thousand, 2024-2035
  • Table 139: Middle East and Africa Renewable Energy Certificate/Credit Market (by Resource Type), GWh, 2024-2035
  • Table 140: Middle East and Africa Renewable Energy Certificate/Credit Market (by Resource Type), $Thousand, 2024-2035