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Current status of REC mechanism in India and possible policy modifications to way forward

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  • Shereef, R.M.
  • Khaparde, S.A.

Abstract

Govt. of India has come up with renewable energy (RE) promotional policies and regulations to tap the abundant renewable energy sources in the country for energy security and to reduce the dependance on fossil fuels. Subsequent to the enactment of the Electricity Act 2003, Renewable purchase obligation (RPO) became mandatory on power distribution companies. Renewable energy certificate (REC) was introduced to help the obligated entities to meet their RPO irrespective of the availability of local RE sources and its trading started in India in March 2011. This paper briefs about the RE promotional policies and regulations of Govt. of India and analyses the RPO announced by various state electricity regulatory commissions (SERCs). A detailed analysis of REC trading at the energy exchanges till February 2013 is presented to show the REC market trend and the share of REC in the total RE requirement of the country. The impact of RE promotional policies and regulations on the RE sector is also analysed. Based on the above analysis, realistic policy modifications are suggested to improve the current status of the RE sector of India.

Suggested Citation

  • Shereef, R.M. & Khaparde, S.A., 2013. "Current status of REC mechanism in India and possible policy modifications to way forward," Energy Policy, Elsevier, vol. 61(C), pages 1443-1451.
    • Handle: RePEc:eee:enepol:v:61:y:2013:i:c:p:1443-1451
    DOI: 10.1016/j.enpol.2013.07.008
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    Citations

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    Cited by:

    1. Darmani, Anna & Rickne, Annika & Hidalgo, Antonio & Arvidsson, Niklas, 2016. "When outcomes are the reflection of the analysis criteria: A review of the tradable green certificate assessments," Renewable and Sustainable Energy Reviews, Elsevier, vol. 62(C), pages 372-381.
    2. G. P. Girish & P. Sashikala & Bharath Supra & Anitha Acharya, 2015. "Renewable Energy Certifi cate Trading through Power Exchanges in India," International Journal of Energy Economics and Policy, Econjournals, vol. 5(3), pages 805-808.
    3. Jamasb, Tooraj & Thakur, Tripta & Bag, Baidyanath, 2018. "Smart electricity distribution networks, business models, and application for developing countries," Energy Policy, Elsevier, vol. 114(C), pages 22-29.
    4. Sawhney, Aparna, 2022. "Renewable Energy Certificates Trading in India: A Decade in Review," ADBI Working Papers 1313, Asian Development Bank Institute.
    5. Wȩdzik, Andrzej & Siewierski, Tomasz & Szypowski, Michał, 2017. "Green certificates market in Poland – The sources of crisis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 75(C), pages 490-503.
    6. G. P. Girish & S. Vijayalakshmi, 2015. "Role of Energy Exchanges for Power Trading in India," International Journal of Energy Economics and Policy, Econjournals, vol. 5(3), pages 673-676.

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