What is the target compliance market?
The target compliance market is the possible, but not yet realized, method of reaching mandated renewable energy targets through the cancellation of guarantee of origin certificates or other reliable tracking systems.
While some nations have linked their renewable energy targets with certificate systems (most obviously Norway and Sweden) it is a highly under used resource. Many experts believe that by introducing more competition via certificate markets costs to the taxpayer could be reduced.
By utilizing international certificate schemes nations would be able to support projects where they are most efficient, for example solar power in Spain, wind in the Netherlands, or biomass in Germany and compete for the rights to these services (rights) via certificates. This model would not exempt internal production but only encourage the use of cost-effective and highly-efficient renewable energy capacity growth across borders.
Some locations around the world are using energy certificate trading much more efficiently. In the United States for example a RECs certificate, or Renewable Energy Certificate, can be used on the voluntary market or the target compliance market. Individual states can choose from what region compliant RECs certificates can originate as well as if a certain percentage of the target must be met from local production. In this way individual states will have a local increase in installed capacity but also help build renewable electricity where it is most cost-efficient.
- Annual Report 2016
- Agenda seminar on development of REC/GO markets in the UK and internationally, London 25 September 2017
- Agenda seminar Renewables Good Practice (ReGP) in London, 26 September 2017
- Does the EU renewables sector need a guarantees of origin market?
- Development of the Guarantees of Origin Market 2016 Key Facts Report
- RECS International releases the Renewables Good Practice
- RECS International Annual Report 2016
- RECS Magazine - The rise of the corporate consumer
- RECS International Annual Report 2015
- RECS Magazine - Encouraging demand-side action to influence production-side change
- Launch of the GHG Protocol Scope 2 Guidance Report