REC demand in India for May falls to lowest level so far in 2016

Demand for both solar and non-solar renewable energy certificates (RECs) in India declined further in May 2016, after an already weak April, according to official data.

Only 20,083 solar RECs were sold this month, marking the lowest level since November 2015. Non-solar REC sales also dropped to 161,858 sold certificates, as compared to 290,457 redeemed units in April.

Meanwhile, 126,205 new solar and 561,372 new non-solar renewable energy certificates were issued by Indian power producers. Needless to say, the trading prices for both types of RECs remain at the minimum level defined by the government, because of the ever-growing gap between supply and demand.

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.

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