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According to Custom Market Insights (CMI), The [Renewable Energy Certificate Market](https://www.custommarketinsights.com/report/renewable-energy-certificate-market/) size was estimated at USD 13.62 Billion in 2021 and is expected to hit around USD 110.94 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 27.2% from 2022 to 2030.
Overview
Global Renewable Energy Certificate Market
Renewable Energy Certificate Market: Overview
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
According to Custom Market Insights (CMI), The Renewable Energy Certificate Market size was estimated at USD 13.62 Billion in 2021 and is expected to hit around USD 110.94 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 27.2% from 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 represents 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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Renewable Energy Certificate Market: Growth 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 centers 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.
Report URL: https://www.custommarketinsights.com/report/renewable-energy-certificate-market/
Renewable Energy Certificate Market: Regional Analysis
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 governments strict rules and implications can contribute to market growth across North America. Countries like US and Canada. contribute to large market shares.
Europes 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.
Europes 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.
Renewable Energy Certificate Market: Recent developments
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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.
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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.
Key Players:
- Central Electricity Regulatory Commission
- Green e Energy
- Environmental Tracking Network of North America
- Western Area Power Administration
- General Services Administration
- U.S. Environment Protection Agency
- Defense Logistics Agency Energy
- Others
Press Release: https://www.custommarketinsights.com/press-releases/renewable-energy-certificate-market/
The Renewable Energy Certificate Market is segmented as follows:
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+ KWH
By End-Use
- Compliance
- Voluntary
On the basis of Geography
North America
- The U.S.
- Canada
- Mexico
- Rest of North America
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- New Zealand
- 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
Browse Other Custom Market Insights coverage of the ENERGY AND POWER, RENEWABLE ENERGY Industry
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