Terms and Conditions of Renewable Energy Certificates Trading in the United States
EU ENERGY LAW AND POLICY ISSUES, Section 4.4, pp. 323-360, B. Delvaux, M. Hunt and K. Talus, eds., Second Edition, Euroconfidentiel, 2010
Posted: 29 Sep 2010 Last revised: 25 Mar 2015
Date Written: 2010
Renewable Energy Certificates (hereinafter RECs) are stricto sensu flexible compliance instruments that support the production of electricity from renewable energy sources. In the United States, the use of RECs inscribes itself in the general picture of green power policies. Green power is a market-driven product that has been a commercial argument or a legislative obligation according to the level of restructuring of the electric industry. RECs have developed in the frame of these green power offers as important tools in green energy certification and tracking, but have also become commodities traded on separate markets. The present contribution analyses the trading rules for RECs in the United States under two perspectives: the central regulatory and contractual conditions for trading RECs, and the legal barriers raised to limit it. Because of the similarities of the debate in Europe and the United States, comparisons will be drawn when relevant.
Keywords: renewable energy certificates, green certificates, renewable energy, trade, tracking
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