Issue Date: May 31, 2011
The newly launched renewable energy certificate (REC) market has been witnessing a flurry of activity. Governments, regulators and project developers are upbeat, and the first trading day in March 2011 hit the ceiling price. Though the subsequent session was subdued, stakeholders are optimistic that the new market can quicken the harnessing of renewable energy potential of the country, which has been sluggish so far. But REC is not a magic wand to achieve clean energy goals and it could have problems.