Q3 solar certificates demand in India falls 39% q/q

Total of 69,900 solar renewable energy certificates (solar RECs) were sold in India in July-September 2015, down 39% quarter-on-quarter, the REC registry shows.

Also, about 446,150 non-solar RECs were redeemed in the period, which marked a decline of 5.9% from April-June. The combined value of REC sales for the third quarter of 2015, both solar and non-solar, was nearly INR 914 million (USD 14m/EUR 12m).

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.

Both solar and non-solar certificates have been trading at bottom prices since the summer of 2013 and 2012, respectively, due to the huge gap between supply and demand. The bottom price for solar RECs was cut by the government to INR 3,500 apiece from the start of 2015 in a bid to boost demand. The minimum trading price for non-solar RECs remained INR 1,500 per certificate.

(INR 100 = USD 1.533/EUR 1.361)

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