Since the launch of the scheme last year, the government is buoyant on the renewable energy certificate (REC) market to increase the capacity of the sector. But given that the scheme is market-based, it hinges on the fragile commitments by states to meet their renewable energy purchase obligation (RPO) target. Their failure to source the committed amount of energy from renewable sources would mean REC mechanism would be just another all-bark-and-no-bite scheme of the government.
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