Knowledge Tree
Renewable Energy Certificates
Also known as: Renewable Energy Certificates, Renewable energy credit, renewable energy credits, RECs, green tags, tradable renewable certificates, renewable energy certificate structures
Facts (10)
Sources
The Power of Change: Innovation for Development and Deployment ... nationalacademies.org 7 facts
procedureRenewable Portfolio Standards (RPSs) require utilities or retail electricity suppliers to use renewable energy, obtain Renewable Energy Certificates (RECs), or procure a minimum amount of renewable generating capacity for their electricity portfolios.
claimThe National Academies of Sciences, Engineering, and Medicine recommends that the U.S. Department of Energy and national laboratory programs provide technical support to states, cities, regulators, and utilities to identify and adopt best practices for renewable energy markets, including common procurement methods, soft cost reduction approaches, power purchase agreement contracts, and standardized renewable energy certificate structures.
claimRenewable Energy Certificates (RECs) provide a uniform system for tracking the purchase and use of renewable energy, ensuring that financial incentives from portfolio standards flow to the owners of covered renewable resources.
claimThe diversity of U.S. market policies regarding renewable energy credits has generally prevented the implementation of policies that lock in higher costs for renewable energy.
measurementIn restructured states, average renewable energy or Renewable Energy Certificate (REC) purchases added between $2 and $48 per MWh of renewable energy obtained, according to a 2014 survey by Heeter et al.
claimTracking services for renewable energy credits are provided by independent system operators (ISOs) and regional transmission organizations (RTOs) such as ERCOT and PJM-Environmental Information Services (EIS), by individual states such as Michigan, North Carolina, New York, and Nevada, and by independent services such as the Midwestern Renewable Energy Tracking System, New England Power Pool Generation Information System, North American Renewables Registry, and Western Renewable Energy Generation Information System.
claimRenewable Portfolio Standards (RPSs) effectively impose a tax on retail suppliers that must pay for more expensive renewable resources or Renewable Energy Certificates (RECs), which has the effect of increasing electricity prices.
Clean Energy Solutions Must Include Nuclear | ClearPath clearpath.org 1 fact
referenceRenewable energy credit (REC) prices were recorded as of 4/18/2018. The Wind production tax credit (PTC) was $23.75/MWh in 2017, converted to pretax using 1/(1-21%), escalated 2% per year for 10 years, and levelized over 25 years at 8% weighted average cost of capital (WACC). The Solar investment tax credit (ITC) is calculated at 30% ITC, $2000/kw capital, 20-year life, 18% capacity factor, and 8% WACC. Maryland offshore wind subsidies are based on Maryland Public Service Commission Order 5/11/2017, with a PTC 20% step-down. Zero Emission Credit (ZEC) is a credit provided to select nuclear plants for their zero carbon attributes.
The technical, geographical, and economic feasibility for solar ... ideas.repec.org 1 fact
referenceJo and Jang (2019) evaluated the effect of Renewable Energy Certificates on energy storage systems in the Korean photovoltaic power generation market, published in Sustainability, volume 11(16), pages 1-17.
Sustainable Energy Transition for Renewable and Low Carbon Grid ... frontiersin.org Mar 23, 2022 1 fact
claimRenewable Energy Certificates (RECs), also known as green tags or tradable renewable certificates, are a strategy to promote electricity generation from renewable sources, according to Wanga et al. (2020).