“This trading session witnessed increased volumes of traded RECs over the previous months with the trade of 72,321 non-solar and 1,983 solar RECs,” Indian Energy Exchange (IEX) said in a statement today.
The REC mechanism was introduced in India in 2010. One REC is equivalent to one megawatt hour of electricity generated from renewable energy sources. Generators of renewable energy have the option of selling the electricity along with the green component or selling only the pure electricity component and selling the RECs separately. In India, the REC market is dominated traditionally by wind energy but that looks set to be changing in the coming years.
In June, 36,147 non-solar and 797 solar RECs were traded.
“For solar RECs, buy bids of 1,983 RECs and sell bids of 12,486 RECs were received against which 1,983 RECs were cleared at Rs 9,300 per REC,” the statement said.
Snapshot of REC trading for the month of July 2013;
Solar RECs
| Buy Bids | Sell Bids | Volume Traded | Price -Rs. per REC | Trade Value Rs. Crores | |
| IEX | 1,983 | 12,486 | 1,983 | 9,300 | 1.84 |
| PXIL | 46 | 9,194 | 46 | 9,300 | 0.04 |
| Total | 2,029 | 21,680 | 2,029 |
| 1.88 |
Non-Solar RECs
| Buy Bids | Sell Bids | Volume Traded | Price -Rs. per REC | Trade Value Rs. Crores | |
| IEX | 72,231 | 16,76, 875 | 72,231 | 1,500 | 10.84 |
| PXIL | 89,081 | 9,87,886 | 89,081 | 1,500 | 13.36 |
| Total | 1,61,312 | 26,64,761 | 1,61,312 |
| 24.20 |
The entire process of REC issuance goes through following stages; 1) Accreditation by state agency, 2) Registration by central agency, 3) Issuance by central agency and 4) Trading on power exchanges. Read more here.
Reference and further reading;
REC registry website
Read more on REC mechanism –Regulation chronology, Stages ,Cost involved and Registered capacity
Natural coral reefs and underwater habitats have been damaged by pollution, overfishing, and climate change. To help restore marine life, people create artificial reefs using…
As the world continues to transition toward cleaner energy sources, the need for systems that can track, certify, and validate the renewable origin of electricity…
The carbon that marine ecosystems absorb and store is known as "blue carbon." The well-known idea of "green carbon," which describes the carbon retained by…
Introduction Soil testing is a crucial practice in modern agriculture. It assesses soil health, nutrient levels, and pH balance, enabling farmers to make informed decisions…
Ever wished your mobile phone could do more than just send memes and crush candies? Well, buckle up, because we're about to take your mobile…
As of 2023, 106 million people worldwide had bitcoins but the currency's influence on the environment is disproportionate. The primary method of cryptomining, known as…