Significant growth in I-REC Standard usage and market

10 May 2018

Reports by the secretariat show how volumes of issuance, transfer and cancellation have been increasing rapidly in 2017.

Statistics of these volumes are reported in twoways: production year and transaction year statistics. Production year statistics related to the year in which the electricity was physically produced, transaction year information related to the year in which the transaction took place. 

Certificates were issued on a production year basis at a volume of 3.394 TWh. In 2017 certificates were issued on a production year basis at a volume of 4.379 TWh.

Cancellations have also grown significantly with 2.75 TWh of redemptions on a transaction year basis in 2017. This is up from 1.18 TWh of redemptions in 2016. In 2018 to date we have seen 1.26 TWh of redemptions. All redemption statistics are vintage neutral.

Device registrations have also been increasing. In 2017 there were 54 new device registrations as of 2018 there have been 26 new device registrations to-date. Total devices registered in the system now exceed 140 devices.

For more information on statistics reach out to the I-REC Standard secretariat at secretariat@irecstandard.org