The renewable energy certificates global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Renewable Energy Certificates Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The renewable energy certificates market size has grown exponentially
in recent years. It will grow from $13.71 billion in 2023 to $17.54
billion in 2024 at a compound annual growth rate (CAGR) of 28.0%. The
growth in the historic period can be attributed to government policies
and regulations, voluntary renewable energy goals, renewable energy
incentives, public awareness, and environmental concerns.
The renewable energy certificates market size is expected to see exponent growth in the next few years. It will grow to $43.06 billion in 2028 at a compound annual growth rate (CAGR) of 25.2%. The growth in the forecast period can be attributed to the emergence of green hydrogen, shifts in electricity market structures, expansion of renewable energy markets, resilience and climate adaptation investments. Major trends in the forecast period include rise of blockchain technology, integration of renewable energy credits into carbon markets, innovation in REC financing mechanisms, enhanced standardization and certification.
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Scope Of Renewable Energy Certificates Market
The Business Research Company's reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Renewable Energy Certificates Market Overview
Market Drivers -
The increasing consumption of renewable energy sources is expected to
propel the growth of the renewable energy certificate market going
forward. Renewable energy refers to energy sources that are naturally
replenished and come from resources that are constantly available, such
as sunlight, wind, water, and organic matter. Renewable energy
certificates are used for renewable energy sources to facilitate market
transactions, ensure compliance with renewable energy targets, and
enable environmental claims related to renewable energy usage. For
instance, in August 2022, according to reports published by
Oilprice.com, a UK-based energy news website, global renewable energy
consumption experienced exponential growth, with an average annual
increase of 12.6%. Notably, from 2020 to 2021, global renewable energy
consumption surged by an impressive 15%. Therefore, the increasing
consumption of renewable energy sources is driving the growth of the
renewable energy certificate market.
Market Trends -
Major
companies operating in the renewable energy certificate market are
concentrating on the development of innovative advancement solutions,
such as renewable energy certificate services, to address the growing
demand for renewable energy and to support companies in their
decarbonization efforts. This certificate service provides certificates
that represent the environmental attributes of renewable electricity
generation and are used by individuals and organizations to claim the
environmental benefits of renewable electricity. For instance, in
February 2023, Shizen Energy Inc., a Japan-based energy development
company, launched a renewable energy certificate (REC) service that
provides renewable energy certificates, including non-fossil energy
certificates with tracking, in adherence to major international
sustainability standards such as RE100 and CDP. Additionally, these
services are a low-cost and easy-to-obtain solution for companies to
demonstrate that their electricity is generated from renewable sources
and aim to provide an effective and affordable way for companies to
initiate decarbonization efforts.
The renewable energy certificates market covered in this report is segmented –
1) By Energy Type: Wind Power, Solar Energy, Gas Power, Hydro-Electric Power
2) By Capacity: 0-1000 KWh, 1000-5000 KWH, Greater Than 5000 KWH
3) By End Use: Compliance, Voluntary
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Regional Insights -
North America was the largest region in the renewable energy
certificates market in 2023. Asia-Pacific is expected to be the fastest
growing region in the forecast period. The regions covered in the
renewable energy certificates market report are Asia-Pacific, Western
Europe, Eastern Europe, North America, South America, Middle East,
Africa.
Key Companies -
Major companies operating in the
renewable energy certificates market are NextEra Energy Resources LLC,
Statkraft AS, U.S. Environment Protection Agency, EDF Renewables Inc.,
Western Area Power Administration, Green Mountain Energy Company, Carbon
Clear, 3Degrees Group Inc., BloombergNEF, Central Electricity
Regulatory Commission, Clean Power Research, Element Markets LLC,
Renewable Choice Energy Inc., Community Energy Inc., Innovative Solar
Systems, The CarbonNeutral Company, Green-e Energy, General Services
Administration, Sterling Planet Inc., Sustainable Energy Advantage LLC, 3
Phases Renewables, NeXtWind Management GmbH, Environmental Tracking
Network of North America, Defense Logistics Agency Energy, RECS
International
Table of Contents
1. Executive Summary
2. Renewable Energy Certificates Market Report Structure
3. Renewable Energy Certificates Market Trends And Strategies
4. Renewable Energy Certificates Market – Macro Economic Scenario
5. Renewable Energy Certificates Market Size And Growth
…..
27. Renewable Energy Certificates Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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