Sandy, Utah, USA, Dec. 13, 2022 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Renewable Energy Certificate Market Size, Trends and Insights By Energy Type (Solar power energy, Wind power energy, Hydro-electric power energy, Gas power energy), By Capacity (0-1,000 KWH, 1,100-5000 KWH, 5000+ KW), By End-Use (Compliance, Voluntary), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” in its research database.
“According to the latest research study, the demand for global Renewable Energy Certificate Market size & share was valued at approximately USD 13.62 Billion in 2021 and is expected to reach USD 23.35 billion in 2022 and is expected to reach a value of around USD 110.94 Billion by 2030, at a compound annual growth rate (CAGR) of about 27.2% during the forecast period 2022 to 2030.”
Renewable energy certificates, also known as renewable energy credits or green tags, are non-tangible and tradable energy commodities used as proof to determine that 1MW per hour of electricity was generated from a renewable energy source. For example, solar renewable energy certificates are obtained from solar energy power. The US represent the U.S. the ultimate proof of the renewable energy certificate. There are two types of markets in the US for implementation. The policy created the compliance market and currently exists in 29 US states. U.S. other is voluntary markets used by most households and the corporate sector. The customers choose to purchase renewable power based on their preferences.
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Market Dynamics
Drivers
The increase in environmental awareness and the demand for renewable energy sources drive the global renewable energy certificate market across different regions. The accelerated development of green data centres and the regulated use of non-renewable sources are the reasons behind the growth of the energy certificate market. In addition, the policies created by the government that support cost-effective and sustainable resources drive market growth. For instance, the ubiquity of water streams, canals, and other water-based resources are used to develop multiple mini hydro power plants, which ultimately enhanced the energy certificate market.
Restraints
Despite this awareness, there still needs to be proper understanding in underdeveloped regions. The need for more regulations and incomplete organizations across such areas can hamper the growth expected in the forecast period. Many underdeveloped and developing countries must be aware of the renewable energy certificate market.
(A free sample of the Renewable Energy Certificate report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Renewable Energy Certificate report has been modified to include the COVID-19 impact study prior to delivery.)
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Opportunities
The rising investments and initiatives of the government and the private sector is expected to support market growth in the foreseeable future. The innovation of the micro hydro power plant, which can produce up to 100KW of electricity using the water stream, provides ample opportunities for renewable energy certificate market growth. The power can be used in isolated homes and communities, sometimes connected to the public grid. Likewise, the sustainable and cost-effective micro wind turbine installation provides enough power to homes and public grids.
Challenges
The renewable energy certificate is like a trademark representing that the energy used for electricity generation has been extracted from a renewable resource. Financing renewable energy projects for independent industries is a big challenge for the REC market development. It requires the involvement of the government for that purpose.
Key questions answered in this report:
- What is the size of the Renewable Energy Certificate market and what is its expected growth rate?
- What are the primary driving factors that push the Renewable Energy Certificate market forward?
- What are the Renewable Energy Certificate Industry's top companies?
- What are the different categories that the Renewable Energy Certificate Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Renewable Energy Certificate market sample report and company profiles?
Click Here to Access a Free Sample Report of the Global Renewable Energy Certificate Market @ https://www.custommarketinsights.com/report/renewable-energy-certificate-market/
Report Highlights
Based on an energy type, solar renewable energy has dominated the REC market in 2021 and is expected to expand further during the forecast period. This can be attributed to the rapid increase in solar power generation due to increased concern for the usage of renewable sources of energy. However, the gas power segment is also expected to witness significant growth during the forecast period due to a rise in the production of biofuels from plants and increased municipal waste management and recycling.
Based on an end-user analysis, the voluntary segment has dominated the global REC market in 2021 and is projected to maintain its position during the forecast period. This can be attributed to the increased awareness of GHG emissions using non-renewable sources.
Based on Capacity, the 5000+ KWH segment dominated the global market in 2021 due to the rapid increase in renewable sources for electricity generation and the investments provided by governments and the private sector to build wind and solar farms across the globe.
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by Regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Snapshots
Based on the region, the renewable energy certificate market is distributed across North America, Europe, Asia-Pacific, and Latin America. Based on revenue, North America dominated the global energy certificate market and is expected to show significant growth during the forecast period. Asia-Pacific and Europe are projected to have increased market value in the forecast period. The government’s strict rules and implications can contribute to market growth across North America. Countries like US and Canada. contribute to large market shares.
Europe’s global energy certificate market is expected to proliferate during the forecast period. The flourishing demand for green energy and multiple investments that implicate sustainable development across Europe can be considered the leading cause for the fastest energy certificate market growth.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 13.62 Billion |
| Projected Market Size in 2030 | USD 110.94 Billion |
| CAGR Growth Rate | 27.2% CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Prominent Players | Central Electricity Regulatory Commission, Green-e Energy, Environmental Tracking Network of North America, Western Area Power Administration, General Services Administration, U.S. EnviroU.S.t Protection Agency, Defence Logistics Agency Energy, and Others |
| Key Segment | By Energy Type, Capacity, End-Use, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfill your requirements for research. Buy Now |
Key Players
- Central Electricity Regulatory Commission
- Green-e Energy
- Environmental Tracking Network of North America
- Western Area Power Administration
- General Services Administration
- U.S. EnviroU.S.t Protection Agency
- Defense Logistics Agency Energy
Recent Development
- The Indian government has achieved the 100 KW solar power capacity target by December 2022, as announced by the Minister of State for New and Renewable Energy. 57.71 GW of solar power capacity was commissioned, and another 48.71 GW was in the pipeline at the end of June.
- In the upcoming years, the global Hydrotreated Vegetal Oil (HVO) production capacity will likely witness a significant increase and expansion of biofuel production from waste materials and residual stocks.
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Browse the full “Renewable Energy Certificate Market Size, Trends and Insights By Energy Type (Solar power energy , Wind power energy, Hydro-electric power energy, Gas power energy), By Capacity (0-1,000 KWH, 1,100-5000 KWH, 5000+ KW), By End-Use (Compliance, Voluntary), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” Report at https://www.custommarketinsights.com/report/renewable-energy-certificate-market/
Segments covered in the report
By Energy Type
- Solar power energy
- Wind power energy
- Hydroelectric power energy
- Gas power energy
By Capacity
- 0-1,000 KWH
- 1,100-5000 KWH
- 5000+ KWH
By End-Use
- Compliance
- Voluntary
On the basis of Geography
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
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Recent Development
- On 8 June 2022, A Leading Provider of Turnkey Hydrogen Solutions, known as Plug Power Inc., was supposed to build a 35-Tons-Per-Day Green Hydrogen Generation Plant, for the global Green Hydrogen Economy, at Port of Antwerp-Bridges in Europe. An A30-year consignment was also signed to construct a power plant at the Belgium port, the second largest in Europe.
- By December 2022, the Indian government has set a target to achieve 100 GW of solar power across India. 57.71 GW has already been commissioned, while 48.71 was expected to be in the pipeline at the end of June.
- Solar PV and wind segments are expected to achieve a high growth rate due to increased commodity and fair prices. There is supposedly high competition due to the sharp increase in natural gas and coal prices.
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This Renewable Energy Certificate Market Research/Analysis Report Contains Answers to the following Questions.
- Which Manufacturing Technology is used for Renewable Energy Certificate? What Developments Are Going on in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Renewable Energy Certificate Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was the Global Market Status of the Renewable Energy Certificate Market? What Was the Capacity, Production Value, Cost and PROFIT of the Renewable Energy Certificate Market?
- What Is the Current Market Status of the Renewable Energy Certificate Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Renewable Energy Certificate Market by Considering Applications and Types?
- What Are Projections of the Global Renewable Energy Certificate Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Renewable Energy Certificate Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact on Renewable Energy Certificate Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are the Market Dynamics of the Renewable Energy Certificate Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Renewable Energy Certificate Industry?
Directly Purchase a copy of the Renewable Energy Certificate report [220+ Pages] @ https://www.custommarketinsights.com/report/renewable-energy-certificate-market/
Reasons to Purchase Renewable Energy Certificate Market Report
- Renewable Energy Certificate Market Report provides qualitative and quantitative market analysis based on segmentation involving economic and non-economic factors.
- Renewable Energy Certificate Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Renewable Energy Certificate Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Renewable Energy Certificate Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
Click Here to Access a Free Sample Report of the Global Renewable Energy Certificate Market @ https://www.custommarketinsights.com/report/renewable-energy-certificate-market/
Reasons for the Research Report
- The study provides a thorough overview of the global Renewable Energy Certificate market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Renewable Energy Certificate market analysis.
- The competitive environment of current and potential participants in the Renewable Energy Certificate market is covered in the report, as well as those companies' strategic product development ambitions.
- According to the component, application, and Industry Vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide Renewable Energy Certificate market should find this report useful. The research will be useful to all market participants in the Renewable Energy Certificate Industry.
- Managers in the Renewable Energy Certificate sector are interested in publishing up-to-date and projected data about the worldwide Renewable Energy Certificate market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Renewable Energy Certificate products' market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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