Renewable Energy Certificate Market: Projected to Reach $103.2 Billion by 2030, Growing at a 27.2% CAGR from 2021 -2030
WILMINGTON, DE , UNITED STATES, July 3, 2024 /EINPresswire.com/ -- The increase in the demand for power from renewable energy across the world led to the demand for renewable energy certificate market. The rapid development in the green data centres and completeness in the regulation is a major reason for the development of the market. The rapid innovation in communication and internet in the modern society provide ample opportunities for the growth of the renewable energy certificate market during the forecast period.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ : https://www.alliedmarketresearch.com/request-sample/2255
The global renewable energy certificate market size was valued at $9.3 billion in 2020, and is projected to reach $103.2 billion by 2030, with global renewable energy certificate market forecast expected at a CAGR of 27.2% from 2021 to 2030.
Renewable energy certificates are used for the marketing of the power from renewable energy resources. The incompleteness of the regulations and not completely formed organisation on the basis of this market is also one of the reasons restraining the growth of the market. The lack of awareness among the developing countries regarding the renewable energy certificates especially in India, and others hamper the growth of the renewable energy certificate market.
The renewable energy certificate market is segmented on the basis of type of energy, capacity, end use, and region.
On the basis of energy type, the global renewable energy certificate market is segmented into solar energy, wind power, hydro-electric power, and gas power. On the basis of capacity it is introduced as 0-1,000KWH, 1,100-5,000KWH, and more than 5,000KWH. The end use introduced in the study includes voluntary and compliance.
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Asia Pacific and Europe.
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐๐ง ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/checkout-final/a2095040592dd549ff3d4abaae921ecd
The increase in demand for power from renewable energy resources led to the high demand for renewable energy certificate market. The presence of developing countries such as India and China are under rapid development renewable energy infrastructure is also a factor driving the growth of the market. As of 2021, India had 96.96 GW of renewable energy capacity and represents 25.2% of the overall installed power capacity which provides great opportunity for the expansion of renewable energy certificates. The rapid development in communication and internet technology led to the development of green energy centres which can be used to track the total production and consumption of green attribute energy resources. The above mentioned rapid development and application of IoT in this market will provide ample of opportunities for the development of renewable energy certificate market. The increase in GHG emission and global warming across the world and rapid development in the conversion efficiency of the renewable energy are the major driving factors for the growth of the market.
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐๐ง ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/checkout-final/a2095040592dd549ff3d4abaae921ecd
The major companies profiled in renewable energy certificate industry are Central Electricity Regulatory Commission, Green-e Energy, Environmental Tracking Network of North America, Western Area Power Administration, General Services Administration, U.S. Environment Protection Agency and Defense Logistics Agency Energy. Due to rapidly increasing demand in the demand for energy from the renewable energy resources led the key manufacturers expand their power generation capacities in order to meet market demand across the globe. Additional growth strategies such as acquisition, and business expansion strategies, are also adopted to attain key developments in the renewable energy certificate market trends.
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๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐ญ๐ฎ๐๐ฒ:
Region wise, the North America is projected to witness growth at the highest CAGR in terms of revenue, during the forecast period.
As per renewable energy certificate market analysis, by energy type, the solar energy segment accounted for the largest share in 2020.
On the basis of capacity, the 0-1,000KWH segment was the major share contributor in 2020.
On the basis of end use, the compliance market segment was the major share contributor in 2020.
๐๐ ๐ฒ๐จ๐ฎ ๐ก๐๐ฏ๐ ๐๐ง๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ, ๐๐ฅ๐๐๐ฌ๐ ๐๐๐๐ฅ ๐๐ซ๐๐ ๐ญ๐จ ๐๐จ๐ง๐ญ๐๐๐ญ ๐จ๐ฎ๐ซ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ ๐๐ญ: https://www.alliedmarketresearch.com/connect-to-analyst/2255
๐๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
U.S. Environment Protection Agency
Green-e Energy
Western Area Power Administration
Defense Logistics Agency Energy
Central Electricity Regulatory Commission
General Services Administration
Environmental Tracking Network of North America
David Correa
Allied Market Research
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