The Renewable Energy Certificate (REC) scheme has been plagued by lax Renewable Purchase Obligation (RPO) compliance, frequent changes in regulations and recurring legal disputes. Total capacity registered under the scheme stands at only 4,526 MW, just 4% of total renewable power generation capacity.

This report covers current status of the REC scheme – registered capacity, issuance and trading pattern – as well as analysis of required changes to make it an integral element of decarbonisation roadmap.