Coronavirus: Solar REC Trading Drops 96 Per Cent in Comparison to February

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  • A total of 48,682 solar renewable energy certificate (RECs) have been traded in March 2020
  • The price of solar RECs have been constant for both the months
  • Solar RECs are issued to eligible entities for the generation of electricity based on solar as a renewable energy source

In comparison to 1,299,737 solar RECs traded in India during February 2020, only 48,682 solar RECs have been traded in the current month. A total of 9,383 were traded on Power Exchange India Limited (PXIL), whereas 39,299 were traded on Indian Energy Exchange (IEX).

Renewable Energy Certificate (REC) mechanism, as per REC Registry India, is a market-based instrument to promote renewable energy and facilitate the compliance of renewable purchase obligations (RPO). It is aimed at addressing the mismatch between the availability of renewable energy resources in the state and the requirement of the obligated entities to meet the renewable purchase obligation (RPO).

The sale bid for solar RECs, on IEX, in March was at Rs 39,299 whereas the buy was at 2,13,710. On PXIL, the sale bid for solar RECs in March was at Rs 37,336, and the buy bid was at 9,482.

Solar RECs are issued to eligible entities for the generation of electricity based on solar as a renewable energy source. It is to be noted here that one renewable energy certificate (REC) is treated as equivalent to one MWh.

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Approximately 27 GW (26967.75 MW) of new solar capacity has been installed in India over the last three years. India imports solar modules and other components from many countries. China in 2019, exported solar power diodes and semi-conductors worth $34,599,090,000.

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