demand for renewable energy products ( RECs ) in India once more outstripped supply in June , when market volume reached only 123,768 for solar panels and 449,367 for non - solar RECs , despite 709,446 and 1,491,425 buy bids being placed respectively . This is due solely to the limited volume of electricity available . There are not enough RECs in circulation to fulfil renewable purchase obligations ( pp ) , which means many entities need to pay currently high REC ##s to satisfy at least a part of their RPOs and still face penalties for not paying them entirely .
Demand for renewable energy credits (RECs) in India once more outstripped supply in June, when trade volume reached only 123,768 for solar RECs and 449,367 for non-solar RECs, despite 709,446 and 1,491,425 buy bids being placed respectively. This is due solely to the limited volume of RECs available. There are not enough RECs in circulation to fulfil renewable purchase obligations (RPOs), which means many entities need to pay currently high REC prices to satisfy at least a part of their RPOs and still face penalties for not meeting them entirely.