Renewable Energy Certificates (also called Green Tags, Renewable Energy Credits) are tradable, non tangible energy commodities that represent proof that a certain amount of electricity was generated from an eligible renewable energy resource (renewable electricity). Solar renewable energy certificates (SRECs) are RECs that are specifically generated by solar energy. These certificates can be sold and traded or bartered, and the owner of the REC can claim to have purchased renewable energy. The concept of RECs seeks to address the mismatch between availability of Renewable Energy (RE) sources and the requirement of obligated entities to meet their RPO (Renewable Purchase Obligation). It also aims to encourage RE capacity addition.
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