The Union Minister of Power and New & Renewable Energy has given his assent to amendments in the existing Renewable Energy Certificate(REC)\u00a0 mechanism.\u00a0<\/span><\/p>\n The Renewable Energy Certificate (REC) mechanism is a market-based instrument to promote renewable energy and facilitate the compliance of renewable purchase obligations<\/strong> (RPO).\u00a0<\/span><\/p>\n It is aimed at addressing the mismatch between the availability of RE resources in the state and the requirement of the obligated entities to meet the renewable purchase obligation (RPO).<\/span><\/p>\n From now on, the validity of the Renewable Energy Certificate (REC) would be perpetual, that is till it is sold.\u00a0<\/span><\/p>\n The Central Electricity Regulatory Commission<\/strong> (CERC) will have a monitoring and surveillance mechanism to ensure that there is no hoarding of RECs.\u00a0<\/span><\/p>\n The renewable energy (RE) generators eligible for RECs will be eligible for the period of the power purchase agreement<\/strong> (PPA) as per the prevailing guidelines.\u00a0<\/span><\/p>\n The RECs can be issued to obligated entities (including discoms and open access consumers) which purchase RE power beyond their renewable purchase obligation (RPO) compliance notified by the Centre.\u00a0<\/span><\/p>\n No REC will be issued to the beneficiary of subsidies\/concessions or waiver of any other charges.<\/span><\/p>\n Source:<\/b> This post is based on the article <\/span>\u201c<\/b>Ministry of Power Redesigns Renewable Energy Certificate (REC) Mechanism<\/b>\u201d <\/b>published in <\/span>PIB <\/b>on <\/span>30th Sep 2021.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":" What is the News? The Union Minister of Power and New & Renewable Energy has given his assent to amendments in the existing Renewable Energy Certificate(REC)\u00a0 mechanism.\u00a0 What is the Renewable Energy Certificate (REC) mechanism? The Renewable Energy Certificate (REC) mechanism is a market-based instrument to promote renewable energy and facilitate the compliance of renewable… Continue reading Ministry of Power Redesigns Renewable Energy Certificate (REC) Mechanism<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,4182,9],"tags":[768,3222,10079],"class_list":["post-138416","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-environment","category-public","tag-energy","tag-renewable-energy","tag-renewable-energy-certificate-mechanism","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1700511562},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/138416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=138416"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/138416\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=138416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=138416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=138416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What is the Renewable Energy Certificate (REC) mechanism?<\/b><\/h5>\n
What are the important changes made in the REC mechanism?<\/b><\/h5>\n