Renewable Energy Certificate Market Surges at 27.2% CAGR | Rising Clean Power Demand Accelerates Global Adoption
?? Renewable Energy Certificate Market to Hit $103.2B by 2030 | Solar & Wind Lead Global Growth
WILMINGTON, DE, UNITED STATES, December 8, 2025 /EINPresswire.com/ --
According to a recent report published by Allied Market Research, the renewable energy certificate market size was valued at $9.3 billion in 2020 and is projected to reach an impressive $103.2 billion by 2030, expanding at a strong CAGR of 27.2% from 2021 to 2030. As global energy systems transition toward sustainability, renewable energy certificates (RECs) are becoming a crucial tool for tracking and verifying clean energy consumption.
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The rapid rise in global greenhouse gas emissions, severe climate impacts, and international commitments to carbon neutrality are accelerating the shift toward renewable energy. This surge in renewable installations—especially in countries such as India, China, and the U.S.—is fueling the significant expansion of the renewable energy certificate market.
?? Growing Renewable Power Demand Fuels REC Market Growth
Demand for renewable energy has grown exponentially as governments, corporations, and consumers aim to reduce carbon footprints. RECs have emerged as an important mechanism to track and verify green electricity production. Each certificate represents proof that one megawatt-hour (MWh) of electricity has been generated from renewable sources such as solar, wind, hydro, or biomass.
?? Key Factors Driving Market Growth
1?? Massive Renewable Energy Expansion in Developing Countries
Countries like India and China are experiencing rapid clean energy growth.
India reached 96.96 GW of renewable energy capacity by 2021.
Renewables account for 25.2% of India’s total installed power capacity.
This expansion provides abundant opportunities for REC issuance and trading.
2?? Adoption of IoT & Green Energy Monitoring Technologies
The emergence of smart grids, IoT-based meters, and advanced communication systems is supporting transparent monitoring of renewable power generation and consumption. These technologies enhance traceability and reliability within the renewable energy certificate market.
3?? Growing Environmental Awareness
Rising awareness of climate change, government decarbonization mandates, and corporate sustainability goals are increasing the number of voluntary REC buyers.
? Market Challenges Slowing Growth
Despite strong potential, the renewable energy certificate market faces several obstacles:
? Incomplete Regulatory Framework
Many countries lack standardized, robust REC policies or unified certification bodies, which limits market transparency.
? Low Awareness in Developing Economies
Limited knowledge among industrial and commercial consumers—especially in India and emerging Asian markets—restricts adoption.
? Market Complexity
Buyers often find the REC verification process complicated due to multiple issuers, varied regional rules, and limited harmonization.
However, improvements in global regulatory structures and digital platforms are expected to address these challenges over time.
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?? Market Segmentation Insights
The renewable energy certificate market is segmented based on energy type, capacity, end use, and region.
?? By Energy Type
Solar energy held the largest market share in 2020 and is expected to continue leading. Rapid solar installations and falling panel costs have strongly boosted solar REC issuance.
Wind power remains another major contributor due to its high generation capacity and global expansion.
Hydro-electric power contributes significantly in regions with mature hydropower infrastructure.
Gas power (renewable-based) shows steady growth as renewable gas and biofuel adoption increases.
?? By Capacity
1?? 0–1,000 KWh
This segment dominated in 2020 due to large-scale applications in residential and commercial renewable systems.
2?? 1,100–5,000 KWh
Growing demand from medium-scale solar and wind projects supports this segment.
3?? More than 5,000 KWh
Expected to grow steadily as utility-scale renewable plants expand worldwide.
?? By End Use
Compliance market held the largest share in 2020, driven by government mandates and renewable purchase obligations (RPOs).
Voluntary market is rising rapidly as businesses adopt RE100 commitments and prioritize corporate sustainability initiatives.
?? Regional Analysis
The renewable energy certificate market is studied across:
North America
Europe
Asia-Pacific
LAMEA
???? North America Leads the Market
North America currently accounts for the largest revenue share due to:
Strong regulatory frameworks
High environmental awareness
Presence of established REC trading programs
It is also projected to grow at the highest CAGR during the forecast period.
???? ???? Asia-Pacific Shows Strong Momentum
Driven by rapid renewable capacity addition in China, India, Japan, and South Korea, Asia-Pacific is expected to maintain a strong market position.
???? Europe Maintains Steady Growth
Europe benefits from strong sustainability policies, EU renewable targets, and advanced green energy infrastructure.
?? Competitive Landscape
Major players in the renewable energy certificate industry include:
Central Electricity Regulatory Commission (CERC)
Green-e Energy
Environmental Tracking Network of North America
Western Area Power Administration
General Services Administration
U.S. Environmental Protection Agency
Defense Logistics Agency Energy
These organizations oversee REC certification, compliance, tracking, and distribution. With rising demand for renewable power, companies are expanding capacity, entering partnerships, and adopting strategic acquisitions to enhance their presence.
?? COVID-19 Impact on the REC Market
The COVID-19 pandemic created temporary disruptions:
Shutdowns in the automotive, electrical, and manufacturing sectors lowered renewable power demand.
Workforce shortages and raw material delays slowed production.
Many renewable projects were delayed, reducing REC generation temporarily.
Despite short-term challenges, the REC market rebounded as global economies reopened. The pandemic strengthened awareness of sustainability, driving renewed interest in clean energy adoption.
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?? Conclusion
The renewable energy certificate market is entering a high-growth decade driven by rising demand for renewable power, improved monitoring technologies, and increasing corporate sustainability commitments. With global installations accelerating and supportive regulations emerging, RECs are set to become an essential part of the global clean energy transition. As governments and industries aim for carbon neutrality, the renewable energy certificate market will play a key role in ensuring transparency, accountability, and widespread adoption of green energy.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Allied Market Research
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