The renewable energy certificate market value is projected to grow from USD 12.72 billion in 2021 and is projected to reach USD 100.96 billion by 2030, growing at a CAGR of 25.9% from 2021 to 2030.
The report contains 150+ pages with detailed analysis. The market report also covers the estimated market sizes and trends for different countries across major regions, globally.
The rising demand for the various types of power and the government policies that mandates a company to meet the required targets to use of renewable energy is among the most prominent factors that primarily contribute to the growth of the global renewable energy certificate market.
The increased pollution levels and deteriorating environmental conditions owing to the rapid industrialization and extensive carbon emission has now mandated the use of the green energy across the industries all over the globe. The burgeoning sales of the solar panels, micro hydro-power plants, and micro wind turbines are supplementing the growth of the renewable energy certificate market.The stringent government regulations regarding the use of renewable energy sources is a significant factor that is expected to drive the growth of the global renewable energy certificate market. The rising investments in the development of hydro power plant that produces electricity of around 100 KW using flowing water sources is supplementing the market growth. The rising preference of the green energy is fostering the revenue generation through the trade of the renewable energy certificates across the globe.
Renewable Energy Certificate Market Growth Rate from 2020 to 2030
| Growth Rate | CAGR (%) | |
| Growth Rate In 2020 | 24.67 | % |
| Growth Rate In 2023 | 25.15 | % |
| Growth Rate In 2025 | 25.63 | % |
| Growth Rate In 2027 | 26.13 | % |
| Growth Rate In 2030 | 26.89 | % |
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Report Highlights
- Based on the energy type, the solar energy segment dominated the global renewable certificate market in 2020. This is attributed to the increased adoption of the solar energy across the globe. Further, the rising government initiatives and government investments to develop solar panels and increase its adoption across the globe has fueled the growth of this segment. The rising investments from the private sector to develop the solar power plants on large scale is expected to further foster the growth of the solar energy renewable energy certificate market across the globe.
- Based on the capacity, the 5000 KWH segment dominated the global renewable certificate market in 2020.The rapidly growing number of wind and solar farms across the globe owing the rising demand for the renewable energy and rising government and corporate investments is driving the growth of this segment.
- Based on the end use, the compliance segment dominated the global renewable certificate market in 2020. The increased government initiatives and stringent norms that compels the various sectors to increasingly adopt the renewable energy sources in an attempt to minimize the carbon emission, acts as a major drive of this segment.
Regional Snapshot
North America dominated the global renewable energy certificate market in 2020. This is mainly attributed to the implantation of stricter government regulations regarding the carbon emissions and development of the renewable energy sources across the North America. The increased demand for the renewable or green power in the region has significantly boosted the market growth in the region. The region is characterized by the presence of several technologically advanced companies that has huge energy requirements that fosters the development of the renewable energy sources. The trade of renewable energy certificate in the nations like US and Canada is gaining traction, which is anticipated to further fuel the growth of the renewable energy certificate market during the forecast period.
Europe is expected to be the fastest-growing market during the forecast period, owing to the burgeoning demand for the green energy across different industries. The rising focus and investments in Europe on achieving sustainability and reducing carbon footprint is perfectly supplementing the growth of the renewable certificate market in Europe.
Market Dynamics
Driver
The rising demand for the green energy
The extensive usage of the fossil fuel has depleted this energy source. Therefore, the need for sustainable and renewable energy sources has increased in the past few years. Moreover, rising concerns regarding the drowning health of the environment owing to the pollution has necessitated the adoption of the green energy across the globe. Hence, the increased demand for the green energy and development of the renewable energy sources is projected to drive the growth of the global renewable energy certificate market during the forecast period.
Restraints
Lack of awareness in underdeveloped nations
There is a lack of awareness regarding the renewable energy certificate in the underdeveloped countries. Moreover, lack of sufficient funds in the underdeveloped nations is restricting the development of various renewable energy sources like hydro power plants and other source of flowing water. This may hamper the market growth in the upcoming years.
Opportunities
Rising government and private investments in the development of renewable power plants
The rising investments of the government and the private sector to develop and build the various renewable power plants is expected to drive the market growth in the foreseeable future. Moreover, the government initiatives in promoting the renewable energy certificates is offering lucrative growth opportunities.
Challenges
Lack of regulation
Lack of proper regulations in the developing and underdeveloped markets is a major challenge that may potentially restrict the market growth in the future.
Some of the prominent players in the global renewable energy certificate market include:
- Central Electricity Regulatory Commission
- Green-e Energy
- Environmental Tracking Network of North America
- Western Area Power Administration
- General Services Administration
- US Environment Protection Agency and Defense Logistics Agency Energy
Segments Covered in the Report
By Energy Type
- Wind Power
- Solar Energy
- Gas Power
- Hydro-electric Power
By End Use
- Compliance
- Voluntary
By Capacity
- 0-1000 KWh
- 1000-5000 KWH
- Greater that 5000 KWH
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
Research Objective
the market revenue/volume with the help of widespread quantitative and qualitative insights, and forecasts of the market. This report presents breakdown of market into forthcoming and niche segments. Additionally, this research study gauges market revenue growth and its drift at global, regional, and country from 2017 to 2020. This research report evaluates renewable energy certificate market on a global and regional level. It offers thorough analysis of market status, growth and forecast of the global renewable energy certificate market for the period from 2017 to 2030. This research study offers historic data for years 2017 to 2020 along with a forecast from 2021 to 2030 based on value.
This report also provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the renewable energy certificate market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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