Solar RECs demand in India reaches new high at nearly 88k

Total of 87,767 solar renewable energy certificates (solar RECs) were sold in India in November, marking a 533.7% jump on October and a new monthly record.

In addition, 231,545 non-solar RECs were redeemed, or 9.5% more than in the previous month, the REC registry shows.

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.

REC issuance for November stood at 95,931 solar and 517,140 non-solar certificates, so the gap between supply and demand keeps expanding. Both solar and non-solar RECs have been trading at bottom prices since the summer of 2013 and 2012, respectively. The bottom price for solar RECs is INR 3,500 (USD 52.6/EUR 49.6), as of the start of 2015. The minimum trading price for non-solar RECs remained INR 1,500 per certificate.

(INR 100 = USD 1.502/EUR 1.416)

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