What are the Renewable Energy Credits (RECs)?
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Renewable energy credits serve as an eco-friendly alternative to traditional fossil fuels, playing a vital role in combating global climate change by reducing carbon emissions. Renewable Energy Credits (RECs) function as a tracking system for the origins and volume of renewable energy integrated into our power grid. They are essentially the "currency" of the renewable energy market in North America and signify the characteristics of renewable energy generated and supplied to our grid. These attributes are quantified in terms of megawatt hours (MWh) of renewable electricity and primarily address scope 2 emissions, which pertain to the emissions linked to purchased electricity. In essence, RECs help fortify the renewable energy market and encourage the use of cleaner energy sources.
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