Solar REC Trading in India

Girish G P, Keshav Singhania, Emodi Nnaemeka Vincent


Renewable Energy Certificate (REC) symbolizes traits of electric power which has been produced by means of renewable energy as a primary source. The traits of REC are unbundled from electric power which is produced and both are sold / purchased separately in India and are traded in a market-place such as Power Exchange of India Ltd (PXIL) or Indian Energy exchange (IEX). REC trading via using power exchanges as a platform started in 2011 in India. In this study we review Solar REC trading in India using Indian Energy Exchange data which has impelled in the last few years owing to a host of policy initiatives taken by the Central and State Governments along with the guidelines/norms prescribed by the Electricity Regulatory Commissions particularly from Renewable Purchase Obligation perspective. The study would help power market participants and other stakeholders to develop a perspective based on the nuances associated with Solar REC trading in India.

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Solar; Renewable Energy Certificate (REC); Indian Energy Exchange

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