A unified REC market and composite RPO scheme for promotion of renewable energy in India

Autor: R.M. Shereef, S.A. Khaparde
Jazyk: angličtina
Rok vydání: 2017
Předmět:
Zdroj: International Journal of Sustainable Energy, Vol 36, Iss 6, Pp 606-618 (2017)
Druh dokumentu: article
ISSN: 1478-6451
1478-646X
14786451
DOI: 10.1080/14786451.2015.1075988
Popis: In India, uniform price was assigned to renewable energy certificate (REC) irrespective of renewable energy (RE) type, technology, and location. Moreover REC price bands are higher than existing preferential tariff. There are distinct renewable purchase obligations (RPOs) specified for various RE types, whereas there is lack of efficient tools to check RPO compliance. Because of these reasons, REC market stabilisation is getting delayed. This paper proposes a method using plant performance multiplier to convert non-solar and solar REC to single equivalent REC with competitive REC pricing, which can be traded on unified REC market. The method combines solar and non-solar RPOs into a single composite RPO, to make RPO compliance and its checking simple and efficient. A sample illustration of the proposed method is given. The benefits offered by the proposed method in REC pricing, REC trading and RPO compliance are discussed. A comparative economic analysis of present and proposed method is reported.
Databáze: Directory of Open Access Journals
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