Renewable energy certificate sales decline by 55 per cent in May 2020

In May 2020, the sales of renewable energy certificates (RECs) dropped by more than 55 per cent to 333,000 units compared to 750,000 in the same month a year earlier.

In May 2020, a total of 278,000 RECs were traded on the Indian Energy Exchange (IEX) compared to 550,000 in May 2019. Power Exchange of India (PXIL) recorded sales of 55,000 RECs in May as against around 200,000 earlier.  The REC mechanism is a market-based instrument to promote renewable sources of energy and development of market in electricity.

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