|
|
| Home » Carbon management » Renewable Energy Certificates (REC) |
|
Renewable Energy Certificates (REC) |
|
Rise in demand for power and exhaustion of energy resources for power generation has led to creation of Renewable Energy Certificates (REC). Renewable Energy Certificates (REC) is basically created to bring about a prototype shift in the way the renewable resources would be endorsed in future.
Renewable Energy Certificates (RECs) can be said as an electronic form of currency, which was created by the Renewable Energy (Electricity) Act 2000. Renewable Energy Certificates can be created with the help of Internet, where there is a registry system known as REC Registry. Any eligible agent can create it for each megawatt-hour of appropriate renewable electricity produced or estimated to have generated. Registered individuals can create renewable Energy Certificates. Renewable Energy Certificates are authenticated the Office of the Renewable Energy Regulator. Renewable Energy Certificates are traded between registered individuals.
Each Renewable Energy Certificate includes several features like there is a unique code. Each Renewable Energy Certificate must have a registration approved by the Renewable Energy Regulator, and then only it is considered valid. Renewable Energy Certificate retains its validity until intentionally surrendered or submit against any charge. Each Renewable Energy Certificate also includes registration number of the person who has created the REC.
Renewable Energy Certificates are issued to those who are owners of reputed renewable power stations. They have to submit a proper application form. Even owner of solar water heater installations and small generation unit installations are eligible for getting Renewable Energy Certificates. RECs can be traded only within the REC registry. ated state programs will function as a single compliance market at a regional level for carbon emissions.
|
|
|
|
|
|