RE100 is the global corporate renewable energy initiative bringing together hundreds of large and ambitious businesses committed to 100% renewable electricity.
According to their recent report on renewable energy in India, Renewable Energy Certificates (RECs) have emerged as a promising solution to achieve 100% renewable energy. The report indicates that using RECs by commercial and industrial (C&I) businesses can significantly enhance renewable energy capacity under the REC scheme in India. The report also predicts that the ability under the REC scheme will rise to 7.6 GW by 2026, a considerable increase from the current capacity.
The report also highlights that seven Indian states, including Tamil Nadu and Maharashtra, have adopted RECs, accounting for 90% of registered RECs capacity in India. This indicates that other states can follow suit and increase their adoption of RECs in the future.
Although wind and solar power are the two most popular renewable energy sources under the REC scheme, constituting 58% and 21% of the total registered capacity, respectively, other renewable energy sources remain untapped under the REC scheme. This suggests that exploring other renewable energy sources can further enhance the ability of renewable energy in India.
In conclusion, the report suggests adopting RECs is a promising approach to achieving 100% renewable energy in India. We anticipate that the adoption of RECs will continue to grow in the coming years.
Read the full report for suggested recommendations to enable the uptake of RECs by Indian businesses: