Each Renewable Energy Certificate (REC) issued shall represent 1 MWh of electricity generated from renewable energy source and injected into the grid.
The price of Certificate shall be discovered in the Power Exchange. In between Central Electricity Regulatory Commission will provide information for the floor price and forbearance price. REC’s price range (Minimum and maximum) would be fixed separately for solar and non-solar Certificates.
Following factors are considered to fix the price range;
1. Variation in cost of generation of renewable energy such as Solar and Non Solar.
2. Variation in the Pooled Cost of Purchase across States in the country
3. Expected electricity generation from RE sources such as
4. Renewable Purchase obligation (RPO) targets set by State Electricity Regulatory Commissions
Forbearance price: The highest difference between RE tariff fixed by the CERC and the Average Pooled Power Purchase Costs has been taken as the forbearance (ceiling) price.
REC Price range
|REC’s||Floor Price||Forbearance price|
(Source: Determination of Forbearance and Floor Price for the REC framework, CERC)
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