Indian REC demand grows in Q4

Demand for solar and non-solar renewable energy certificates (RECs) in India improved in the fourth quarter of 2016 reaching nearly 1.05 billion sold units, up by 34% quarter-on-quarter.

Total of 109,523 solar RECs were sold, slightly down from 109,675 in the third quarter, while non-solar REC demand rose to 938,330 from 669,423.

Issuance again significantly surpassed demand with 2.565 billion new credits entering the system in October-December.

Under the REC scheme, renewable power producers in India receive credits for the power they produce if they do not take advantage of other incentives. The RECs are traded on the last Wednesday of each month. Because of the huge gap between supply and demand, credits have been trading at bottom prices for many months.

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