How Big is the Renewable Energy Certificate Market | Industry Trends & Forecast 2025

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Code: MTA8598

Publication Date: Sep 2025

What is the size of Renewable Energy Certificate Market?

According to 6Wresearch internal database and industry insights, the Renewable Energy Certificate Market was estimated at USD 19.18 billion in 2023 and is projected to reach USD 97.50 billion by 2031, growing at a CAGR of 22.54% during the forecast period 2024-2031.

There are a number of growth factors that are supporting the expanding landscape of Renewable Energy Certificate Market. These include the increase in renewable energy mandates and corporate sustainability commitments, increasing digitization of trading platforms for certificate transactions, and growing voluntary demand from businesses and utilities.

Growth Factors for Renewable Energy Certificate Industry

Increased renewable energy mandates and corporate sustainability commitments
Adoption of voluntary Renewable Energy Certificate (REC) purchases by corporations and utilities
Expansion of digital registries and trading platforms
Expansion of investment in additional renewable energy generation capacity
Increasing interest in clean energy labelling and green power claims

Renewable Energy Certificate Market Trends

The Renewable Energy Certificate Market is witnessing significant trends with the deployment of more standardized trading protocols, registry interoperability, and improved efficiencies in the marketplace. Also, visibility achieved through blockchain-based tracking, along with verifiable certification protocols, is reinforcing transparency and trust and is thus accelerating adoption. The voluntary commitment of larger corporates and utilities to REC procurement is further strengthening demand associated with compliance obligations and commercial sustainability objectives.

Emerging Developments in the Renewable Energy Certificate Market

The Renewable Energy Certificate Market is rapidly emerging with new developments. The application of AI-enabled reconciliation engines and registry analytics will optimize RECs issuance and forecasting. Interoperable systems at the global level, like I-REC, are facilitating cross-border trading. Innovations in the use of blockchain and tokenization are enhancing traceability and reducing incidences of fraud. Market infrastructure upgrades enable integration with sustainability reporting systems.