The National Action Plan on Climate Change (NAPCC) has opened up new vistas for Renewable Energy Certificate (REC) trading in India. Internationally, RECs are essentially used as a facilitating mechanism for meeting the Renewable Purchase Obligation (RPO) in the compliance market under a supportive policy and regulatory regime.
Promotion of renewable energy is one of the imperatives of the National Action Plan on Climate Change. The legal framework for its promotion is provided in the Electricity Act, 2003. Renewable Energy Certificates (RECs) are an instrument for facilitating uniform dissemination of renewable sources of energy in the country.
The distinguished climate scientist James E Hansen from NASA along with an interdisciplinary group of nine renowned scientists have put in a recent research paper titled 'Target Atmospheric CO : Where Should 2 Humanity Aim?'.They have issued a re-assessment of earlier climate change predictions.
A new study by the Energy Watch Group has predicted complete phasing out of conventional power within the first half of the 21st century. Titled, 'Wind Power in Context: A Clean Revolution in the Energy Sector', the report predicts that global non-renewable power generation would 'peak' in 2018 and could be phased out completely by 2037!
After an exhaustive consultative process initiated in July 2008, the Tamil Nadu Electricity Regulatory Commission (TNERC) on 20 March 2009, announced a comprehensive order on wind energy tariff to be applicable from 19 September 2008.
