The global Renewable Energy Certificates (REC) market is projected to grow from USD 24.1 billion in 2025 to USD 87.8 billion by 2035, at a CAGR of 13.8%. RECs are market-based instruments that verify electricity from renewable sources like solar, wind, and hydro. They help businesses and utilities meet renewable portfolio standards and corporate sustainability goals, even without direct access to green power. Key players include 3Degrees, Enel, Statkraft, and others. Growth is driven by corporate net-zero targets, government clean energy mandates, and ESG investor pressure. Digital tracking via blockchain and cloud platforms is improving transparency and trust in REC transactions. Challenges include price volatility, varying certification standards across countries, and concerns about additionality whether certificate purchases actually drive new renewable capacity rather than just claiming existing generation. Smaller businesses and developing regions also lag in adoption. Despite these hurdles, the REC market is expected to expand as decarbonization efforts intensify and digital tools make trading more efficient. The report from MarketGenics covers compliance and voluntary RECs, key players, and regional trends through 2035.
