A recent report from Allied Market Research predicts that the global market for renewable energy certificates will grow at a compound annual growth rate (CAGR) of 27.2% between 2020 and 2030. According to the report, the global renewable energy certificate market was valued at $9.3 billion in 2020 and will grow by over ten times to reach $103.2 billion in 2030.
Renewable energy certificates (REC) are market-based instruments used to represent an entity’s property rights to the social, environmental, and other non-energy attributes of green energy generation. An REC is typically issued for every megawatt-hour (MWh) of electricity that is generated from a green energy source and transported to the grid.
RECs allow electricity consumers to reduce the cost of the green energy they use to power their homes and businesses to substantiate carbon footprint reduction and sustainable clean energy use claims. They prove that a certain amount of clean energy has been produced and directed into the electricity grid, promoting renewable energy production and consumption, and helping countries meet their sustainability goals and regulatory standards.
North America will make up the majority of the renewable energy certificates through the next decade with Asia Pacific and Europe coming in second and third place. North America is projected to see the highest compound annual growth rate compared to other regions.
The Allied Market Research report profiled the following entities in its REC industry report; Green-e Energy, Environmental Tracking Network of North America, Central Electricity Regulatory Commission, Western Area Power Administration, U.S. Environment Protection Agency and Defense Logistics Agency Energy, and the General Services Administration.
The market’s projected growth through the rest of the decade will be largely driven by increased demand for renewable energy which, in turn, will cause demand for renewable energy certificates to surge. In addition to developed markets in Europe and the Americas, Asian markets like China and India which are currently experiencing significant development will aid in the global REC market’s growth.
By 2021, India’s capacity for clean energy reached 96.96GW and accounted for 25.2% of the country’s total installed energy capacity, giving India’s renewable energy certificates significant room for growth. The global REC market’s growth will also be driven by the rise in greenhouse gas emissions and subsequent global warming coupled with rapid advancements in green energy conversion efficiency.
Additionally, advancements in internet and communication technology have contributed to the deployment of renewable energy centers that can accurately track total green energy production and consumption.
It remains to be seen how much utility entities like Energy Water Development Corp. (OTCQB; EAWD) derive from these renewable energy certificates as more players enter the space.
NOTE TO INVESTORS: The latest news and updates relating to Energy and Water Development Corp. (OTCQB: EAWD) are available in the company’s newsroom at https://ibn.fm/EAWD
About GreenEnergyStocks
GreenEnergyStocks (“GES”) is a specialized communications platform with a focus on companies working to shape the future of the green economy. GreenEnergyStocks is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, GES is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, GES brings its clients unparalleled recognition and brand awareness. GES is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from GreenEnergyStocks, text “Green” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.GreenEnergyStocks.com
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
GreenEnergyStocks
Los Angeles, CA
www.GreenEnergyStocks.com
310.299.1717 Office
[email protected]
GreenEnergyStocks is powered by IBN