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可再生能源證書/信用額度（REC）市場－全球及區域分析：按應用、產品和地區分類－分析與預測（2025-2035）
市場調查報告書
商品編碼
1876446

可再生能源證書/信用額度（REC）市場－全球及區域分析：按應用、產品和地區分類－分析與預測（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個工作天內

價格

預計到 2024 年，全球可再生能源證書/信用市場規模將達到 27,503,377,400 美元，在 2025-2035 年預測期內，複合年成長率將達到 6.85%。

市場成長的驅動力來自全球加速向可再生能源轉型、企業永續性舉措的加強以及為支持綠色能源應用而日益嚴格的監管要求。各組織擴大參與自願性可再生能源採購計劃和碳抵消舉措，進一步推動了市場擴張。此外，數位追蹤系統、基於區塊鏈的檢驗以及跨境交易平台的進步提高了透明度和營運效率。可再生能源證書（REC）框架與國家可再生能源目標的協調一致，以及即時發電數據的日益整合，正在提升可追溯性和合規性。在持續創新、政策協調和可再生能源發電擴張的推動下，預計到2035年，全球可再生能源證書/信用市場將保持持續成長，REC將穩固確立其作為推動全球清潔能源轉型關鍵機制的地位。

關鍵市場統計數據
預測期 2025-2035
2025 年評估 30,648,906,000 美元
2035 年預測 59,459,783,800 美元
複合年成長率 6.85%

介紹可再生能源認證

BIS Research 的一項研究表明，可再生能源證書是加速全球工業、商業和住宅領域向清潔能源和永續性轉型的重要機制。它們作為一種檢驗的手段，能夠證明可再生再生能源生產和消費的真實性，使企業和公共產業能夠為其綠色能源聲明提供佐證。市場成長的促進因素包括企業對碳中和承諾的不斷增加、政府可再生能源強制性政策的訂定以及消費者對透明檢驗的可再生能源採購的需求。數位追蹤技術、區塊鏈整合和自動化技術的進步正在增強證書生態系統內的可追溯性和課責。透過支持自願性和監管性可再生能源採購，可再生能源證書正在促進市場主導的脫碳進程，並支持新增可再生能源發電產能的投資。該系統有助於各國實現淨零排放目標，加強企業永續發展資訊揭露，並確保整個能源價值鏈的課責。隨著能源系統向去中心化數位化方向發展，可再生能源證書正在成為全球清潔能源管治的基石，將可再生能源發電與檢驗的環境影響和長期氣候責任聯繫起來。

市場介紹

隨著各國、企業和公共產業加強實現可再生能源和減碳目標，全球可再生能源證書/信用市場持續快速擴張。這些證書作為一種可交易的手段，用於驗證來自風能、太陽能、水力發電和生質能能等再生能源來源的發電量，從而推動了受監管市場和自願性市場的成長。國際社會日益增強的脫碳努力，以及企業可再生能源採購計劃，正在推動已開發經濟體和新興經濟體的需求。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。區塊鏈註冊系統和基於時間的匹配系統等技術創新，正在提高證書發行和兌換的透明度和課責。

此外，企業擴大參與可再生能源購電協議（PPA）和永續發展掛鉤能源採購，也推動了市場擴張。北美、歐洲和亞太地區主導這一趨勢，其中亞太地區尤其有望實現強勁成長，這得益於中國、印度、日本和韓國等國的政策舉措。隨著清潔能源轉型加速，全球可再生能源證書/信用市場正成為全球可再生能源生態系統的核心支柱，促進可追溯的綠色電力採購，提升氣候變遷報告的可信度，並支持世界向永續的低碳能源未來轉型。

對產業的影響

可再生能源證書的日益普及正在改變電力生產、製造業、科技和企業永續發展等產業的營運模式。這些證書使各行業無需直接取得實際的再生能源再生能源的使用，遵守環境法規，並實現企業脫碳目標。在能源和公共產業領域，可再生能源證書正在推動新的風能、太陽能和水力發電計劃的開發，提高計劃的資金籌措，並提供額外的收入來源以吸引綠色投資。製造商和資料中心營運商正在利用可再生能源證書來抵消高碳密集型的電力消耗，展示其在實現淨零排放取得的進展，並滿足環境、社會和管治(ESG) 標準。

對於跨國公司而言，可再生能源證書是管理其能源組合、確保可再生屬性以及增強其永續性報告可信度的重要合規和自願工具。在長期購電協議 (LPA) 中日益普及的捆綁式證書進一步確保了可再生能源採購的可追溯性和檢驗，尤其是在科技、通訊和重工業等行業。區塊鏈和數位追蹤系統也為這一行業轉型提供了支持，從而提高了可再生能源交易的透明度並實現了即時檢驗。

國際可再生能源證書能夠加速跨境貿易，打造流動性強的可再生能源屬性市場，並促進新興經濟體對可再生能源的投資。透過將可再生能源證書納入採購和報告策略，各行業不僅可以減少營運排放，還能增強自身競爭力，提升投資者信心，並更好地與全球永續性目標保持一致。總體而言，全球可再生能源證書/信用市場正在透過將經濟成長與可衡量的氣候責任和可再生能源的擴張聯繫起來，從而改變行業的能源實踐。

市場區隔:

細分 1：按應用

  • 基於合規性的可再生能源證書（REC）
  • 自願REC

合規型再生能源證書預計將在全球可再生能源證書/信用市場（按應用領域分類）佔據主導地位。

預計2035年，合規性可再生能源證書將主導全球市場，約佔市場總價值的55%至60%。這些證書是根據可再生能源組合標準（RPS）或美國、歐洲、印度和澳洲等地區類似的可再生能源義務而強制要求的。來自強制性公用事業公司、公共產業和大型工業用戶的穩定需求，確保了合規性證書相比自願性證書具有更強的市場流動性和價格穩定性。光是在美國，2024年就將有超過4.7億張合規性證書到期失效，反映出各州可再生能源目標的穩定提升。強力的政策執行、違規處罰以及針對特定技術的豁免（例如太陽能和一級證書）繼續維持主要市場的價格溢價。此外，印度和中國等新興經濟體加強了可再生能源採購義務，進一步推動了合規性證書的需求。隨著世界各國政府將可再生能源目標擴大到 2030 年及以後，可再生能源證書合規性預計將繼續成為市場的主要驅動力，為可再生能源計劃開發商提供穩定的收入來源。

細分 2：按交易類型

  • 捆綁式可再生能源證書（REC）
  • 非捆綁式可再生能源證書

按交易類型分類：捆綁式可再生能源證書在全球市場主導

捆綁式可再生能源證書（透過購電協議 (PPA) 或公共產業綠色電價與再生能源一同出售）預計將在交易類型上佔據市場主導地位，到 2035 年將佔市場總收入的約三分之二。對捆綁式採購日益成長的偏好反映了買家對額外性、可追溯性和檢驗的影響的重視。跨國公司，尤其是科技和製造企業，優先考慮長期購電協議，這些協議能夠同時確保再生能源和相應的證書，從而保證成本穩定和其可再生能源聲明的可信度。在美國，2024 年超過 70% 的企業可再生能源交易都包含捆綁式證書。類似的趨勢正在歐洲透過原產地保證 (GO) 支持的企業購電協議以及在亞洲透過日本的非化石能源證書競標而擴展。按小時匹配和基於區塊鏈的追蹤技術的出現進一步提高了捆綁式交易的透明度和課責。隨著企業永續發展策略朝著全天候無碳能源目標發展，捆綁式可再生能源證書交易有望成為已開發市場和新興市場中最可信、最有影響力的採購機制。

細分3：按資源類型

  • 太陽能可再生能源證書（太陽能REC）
  • 風能可再生能源證書
  • 水力發電REC
  • 生質可再生能源證書
  • 其他

按資源類型分類，風能可再生能源證書（REC）預計將引領全球可再生能源證書/信用市場。

預計從2025年到2035年，風能可再生能源證書將引領市場，成為各類資源中最有價值的證書。這主要得益於風力發電在全球可再生能源發電中的主導地位及其高成本效益。 2024年，風電在全球可再生能源證書發行量中約佔37%，超過了太陽能和水力發電。風電計劃的經濟性和擴充性，尤其是在北美、歐洲和印度，使得風能證書成為監管市場和自願市場中交易量最大的類別。由於風能證書的易得性和其對大規模永續性的適用性，越來越多的企業傾向於選擇風能證書。美國、中國和北海等地區高容量陸上和離岸風力發電的持續擴張進一步鞏固了供應基礎。渦輪機設計和數位化監控技術的進步正在降低發電成本並提高透明度。到 2035 年，風能可再生能源證書預計將繼續保持領先地位，這主要得益於離岸風電投資的成長以及發電數據整合到即時證書追蹤平台中。

細分 4：按地區

  • 北美洲：美國、加拿大、墨西哥
  • 歐洲：德國、法國、英國、義大利、西班牙等
  • 亞太地區：中國、日本、印度、澳洲、韓國等地區
  • 其他地區：南美洲、中東和非洲

亞太地區預計將主導全球可再生能源證書/信用市場，其中韓國預計將成為區域領導者。這一成長得益於雄心勃勃的可再生能源目標、先進的數位基礎設施以及政府主導的強力的碳中和發展舉措。中國、日本和韓國等國家正透過國家強制規定、企業永續性措施以及擴大綠電跨境貿易，引領可再生能源的普及應用。可再生能源發電能力的擴張，特別是太陽能、風能和生質能的擴張，正在推動合規市場和自願市場對可再生能源證書的需求。此外，數位化交易平台和政府主導的碳中和框架的採用，正在提高市場透明度、效率和投資者信心。隨著亞太地區持續推動可再生能源轉型和區域合作，預計它將繼續保持全球可再生能源證書創新和交易中心的地位。

需求——促進因素、限制因素、機遇

市場需求：加強可再生能源強制政策與目標

在全球可再生能源強制規定和清潔能源目標日益增多的推動下，全球可再生能源證書（REC）市場持續保持強勁成長。各國政府和監管機構紛紛推出雄心勃勃的可再生能源組合標準和淨零排放目標，鼓勵公私部門採用可再生能源。可再生能源證書（REC）已成為一種重要的市場機制，用於證明企業履行這些義務，同時提升可再生能源採購的透明度。企業永續發展措施的不斷拓展和自願購買REC的快速成長進一步強化了市場需求。隨著各國致力於電力產業的脫碳進程，強制性和自願性REC框架的建立將繼續成為加速全球可再生能源普及的關鍵驅動力。

市場挑戰：監理不確定性與政策轉變

強い勢いがあるにもかかわらず、世界の可再生エネルギー認証書/クレジット市場は、一貫性のない政策枠組みや規制の不確定性に起因する課題に直面しています。頻繁な政策転換、可再生エネルギー競標の遅延、政府の優先事項の変化は、投資家の信頼を損ない、市場の安定性を損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優遇措置の突然の撤回や、国境を越えたRECs取引に関する不明確な規則が、市場參與企業に不確定性をもたらしています。さらに、管轄区域ごとに異なる可再生エネルギー認証書（REC）の基準や定義は、市場の調和を複雑にし、利害相關人員がコンプライアンス要件を順守することを困難にしております。こうした不整合は、長期計画に影響を与えるだけでなく、可再生エネルギー計劃の擴充性を制限します。これらの政策上のギャップに対処し、透明性が高く安定した管治を確保することは、市場の信頼を維持し、可再生エネルギーの継続的な拡大を支援する上で極めて重要です。

市場機會：跨國國際貿易的擴張

隨著可再生能源市場日益全球化，跨境再生能源證書交易蘊藏著巨大的機會。隨著企業和國家尋求在境外實現永續性目標，對國際認可且可交易的可再生能源證書的需求日益成長。認證標準的協調統一以及各國間核准協議的推進將開闢新的市場前景，使一個地區的剩餘可再生能源產量能夠抵消另一個地區的碳排放。這種跨國擴張不僅將提高再生能源證書交易的流動性和透明度，還將促進國際社會在實現氣候目標方面的合作。此外，數位交易平台和基於區塊鏈的檢驗系統的發展有望進一步簡化國際再生能源證書交易，使全球可再生能源採購更加高效便捷。

產品與創新策略：在全球可再生能源證書和信用市場，各公司正著力於創新和技術整合，以鞏固其在不斷發展的可再生能源環境中的地位。數位轉型和透明度是這些策略的核心，關鍵創新集中在基於區塊鏈的追蹤系統、自動化註冊平台以及人工智慧驅動的檢驗工具上，以確保可再生能源交易的真實性和可追溯性。市場參與者正投資開發數位化市場，以促進可再生能源證書的即時交易、價格透明化和跨境互換。雲端基礎基礎設施和分散式帳本技術的應用有助於提高營運效率並降低管理成本。此外，各公司正積極推動將可再生能源證書與企業永續發展報告和碳核算系統結合，使企業能夠更有效地實現淨零排放和ESG目標。證書發行機構、技術供應商和能源生產商之間的策略合作正在推動擴充性、安全且互通性的交易平台的發展，從而促進全球可再生能源生態系統的信任和成長。

全球可再生能源證書和信用市場擁有強勁的成長潛力，這主要得益於策略性的市場擴張、政策協調和技術應用。各公司正積極尋求地域多角化和跨境貿易，以掌握北美、歐洲和亞太地區可再生能源發展機會。市場參與企業致力於產品差異化，為每種能源來源（太陽能、風能、水力、生質能等）提供客製化的證書組合，以適應不同的法規結構和企業永續發展政策。併購和夥伴關係在增強技術能力和開拓高需求市場方面發揮核心作用，尤其是在可再生能源目標加速實現的地區。各公司也透過提升透明度、可追溯性和環境責任感來加強行銷，以吸引尋求可靠綠色能源解決方案的機構投資者和個人消費者。與監管機構和可再生能源協會的合作使公司能夠影響新興市場結構和合規機制。隨著全球對檢驗、可交易的可再生能源解決方案的需求不斷成長，那些實施穩健成長和行銷策略的公司將佔據有利地位，主導市場進入下一階段的擴張。

競爭策略：在全球可再生能源證書/信用市場，各參與者正利用創新、策略聯盟和市場整合來增強自身競爭優勢。 Statkraft AS、NextEra Energy Resources, LLC (NEER) 和 Enel Green Power SpA 等主要參與企業強調平台擴充性、可靠的檢驗和全球市場准入是關鍵的差異化因素。對數位化檢驗技術和透明交易系統的關注，透過優先考慮信任、效率和環境影響，正在重塑競爭格局。證書發行機構、可再生能源發電和企業永續發展平台之間的策略聯盟，正在建立一個能夠滿足多樣化合規要求和自願性市場需求的綜合生態系統。市場領導領導者正在擴展其服務範圍，例如可再生能源採購組合管理、自動化合規報告和數據分析，以幫助企業簡化其永續發展營運。此外，競爭差異化越來越依賴那些能夠提升信任度和促進認證交易參與度的因素，例如數據透明度、互通性和用戶體驗。隨著全球永續發展努力的加強，能夠有效結合技術、可靠性和策略一致性的公司，很可能在快速成長的全球可再生能源證書和信用市場中保持強大的競爭優勢。

全球可再生能源證書/信用市場的主要企業包括：

  • 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

《全球可再生能源證書市場報告》的各個章節（如適用）也全面涵蓋了不屬於上述集團公司的企業。

目錄

執行摘要

範圍和定義

第1章 市場：產業展望

  • 趨勢：現況及未來影響評估
    • 碳市場一體化與範圍 2課責
    • 數位證書和細粒度證書（全天候可再生能源匹配）
    • 亞太地區和新興跨境市場的爆炸性成長
  • 供應鏈概覽
    • 相關利益者生態系概覽
    • 客戶洞察和購買行為
    • 案例研究和最佳實踐
    • 定價分析
  • 市場動態概述
    • 市場促進因素
    • 市場挑戰
    • 市場機遇
  • Start-Ups的現狀

第2章可再生能源證書/信用市場（按申請）

  • 使用摘要
  • 按市場類型分類的可再生能源證書/信用市場
    • 相容的REC
    • 自願REC

第3章可再生能源證書和信用市場（按產品分類）

  • 產品摘要
  • 可再生能源證書和信用市場（按交易類型分類）
    • 捆綁 REC
    • 未捆綁的REC
  • 可再生能源證書/信用市場（按資源類型分類）
    • 太陽能REC
    • 風能回收
    • 水力發電REC
    • 生質能REC
    • 其他

第4章 區域

  • 區域摘要
  • 北美洲
    • 區域概覽
    • 市場成長促進因素
    • 成長抑制因素
    • 美國
    • 加拿大
    • 墨西哥
  • 歐洲
    • 區域概覽
    • 市場成長促進因素
    • 成長抑制因素
    • 德國
    • 法國
    • 英國
    • 義大利
    • 西班牙
    • 其他
  • 亞太地區
    • 區域概覽
    • 市場成長促進因素
    • 成長抑制因素
    • 中國
    • 日本
    • 印度
    • 韓國
    • 澳洲
    • 其他
  • 其他地區
    • 區域概覽
    • 市場成長促進因素
    • 成長抑制因素
    • 南美洲
    • 中東和非洲

第5章 公司簡介

  • 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6章調查方法

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