Global Renewable Energy Certificates Market: Overview
With depleting natural energy resources, the efforts to develop and utilize renewable energy has escalated in the recent past, which in turn is augmenting the demand in the global renewable energy certificates market. Renewable energy certificates are achieved by those who generate electricity from renewable sources including solar, hydro, biomass, and wind, with an agreement to not sell the electricity at higher tariff at will, though they can be sold in international market as a tradable commodity. These certificates are essential for international trading of renewable energy, which is stimulating the exposure of renewable energy to developing regions. Green certificates, green tags, and tradable renewable certificates are other names often given to renewable energy certificates, with a basic goal to promote a widespread use of renewable energy and reduce the dependency on fossil fuel resources as well as diminish the environmental hazards caused by them. With the upbringing of smart cities in several emerging economies, the demand in the renewable energy certificates market is expected to increment at a strong CAGR during the forecast period of 2016 to 2023.
This report on global renewable energy certificates market has been developed in order to represent a clear picture of current scenario and act as a reliable business document for the stakeholders of this market by estimating the future until 2023. The report studies all positive and negative factors that are expected to influence the global market for renewable energy certificates, as well as profiles a number of leading operators in the market.
On the basis of source, the global renewable energy certificates market can be segmented into biomass energy, wind energy, solar energy, hydroelectric energy, and geothermal energy. Geographically, the report explores the opportunities available for players in the global renewable energy certificates market in several regions including North America, Asia Pacific, Europe, and the Middle East and Africa.
Global Renewable Energy Certificates Market: Trends & Opportunities
The rising awareness pertaining to decrease the dependency on natural resources and increased efforts to save the environment are two of the primary factors driving the demand for renewable energy across the world. Rules and regulations have been laid out to purchase solar energy and a vast network of transmission wires are being laid out across developed and developing regions. Buyers receive a separate electricity bill. On the other hand, a lack of profitability and ecological benefit has been observed by the current certification method, which is expected to hinder the growth rate of renewable energy certificates market in the near future.
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Global Renewable Energy Certificates Market: Regional Outlook
Owing to vast population base, lack of infrastructure of conventional energy, and rapid industrialization, Asia and Africa currently pose huge demand for renewable energy, as these certificate can considerably reduce the cost gap between green energy and conventional energy. China, followed by the U.S. and European countries such as the U.K. and Denmark have heavily invested to develop wind energy in the recent past, while renewable energy now serves maximum electricity supply in Germany. Scotland and Ireland are also focused on similar goals.