Report cover image

U.S. Renewable Energy Certificate (REC) Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2025-2034

Publisher Global Market Insights
Published Oct 06, 2025
Length 150 Pages
SKU # GMI20513112

Description

U.S. Renewable Energy Certificate (REC) Market was valued at USD 5.3 billion in 2024 and is estimated to grow at a CAGR of 14.3% to reach USD 20.5 billion by 2034.

The market’s growth is driven by the increasing corporate and government focus on achieving net-zero carbon emissions, the expansion of renewable energy infrastructure, and growing participation in voluntary green power programs. RECs serve as a key mechanism to track and trade renewable electricity generation, allowing businesses and individuals to offset their carbon footprints. The surging demand for renewable energy among corporations, universities, and public institutions is reinforcing REC adoption as an integral part of sustainability strategies nationwide.

By type, the voluntary REC segment generated USD 2.2 billion in 2024. Voluntary RECs are widely adopted by corporations and non-regulated entities seeking to demonstrate environmental leadership and meet renewable energy goals beyond compliance requirements. The growth of corporate sustainability commitments, such as RE100 and Science-Based Targets, has accelerated REC purchases from wind and solar farms. Digital trading platforms and blockchain-based REC tracking systems are enhancing transparency and reliability, making voluntary certificates more accessible to a broader range of buyers.

By end-use, the commercial sector reached USD 1.6 billion in 2024. This dominance is attributed to the increasing renewable procurement by large corporations across technology, retail, and manufacturing sectors. Many firms are integrating RECs into long-term renewable energy purchasing agreements and leveraging them to offset Scope 2 emissions from electricity consumption. As corporations continue to pursue 100% renewable energy goals, the demand for RECs from the commercial segment is expected to rise steadily, further stimulating market expansion.

Western South Central Renewable Energy Certificate Market generated USD 805.4 million in 2024. The region’s leadership is attributed to the large-scale integration of solar and wind projects in states such as California, Arizona, and Nevada, supported by aggressive renewable portfolio standards (RPS) and sustainability mandates. California continues to dominate the REC landscape due to its cap-and-trade program and the presence of major utilities and corporate buyers committed to decarbonization.

Key players in the U.S. Renewable Energy Certificate Market include 3Degrees Inc., Schneider Electric SE, SRECTrade Inc., APX Inc., ClimeCo, ClearTrace, and Green-e Energy. Leading players in the U.S. Renewable Energy Certificate Market are focusing on technological innovation, portfolio diversification, and strategic partnerships to expand their market presence. Companies such as 3Degrees, Schneider Electric, and SRECTrade are investing in digital REC tracking and trading platforms to enhance transparency and reduce transaction costs. Blockchain and AI technologies are being integrated to improve traceability and prevent double-counting of renewable attributes.

Table of Contents

150 Pages
Chapter 1 Methodology
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.1.3 Base estimates and calculations
1.1.4 Key trends for market estimates
1.2 Market definitions
1.3 Forecast model
1.4 Primary research and validation
1.5 Some of the primary sources (but not limited to)
1.6 Data mining sources
1.6.1 Secondary
1.6.1.1 Paid sources
1.6.1.2 Source by region
Chapter 2 Executive Summary
2.1 Industry snapshot
2.2 Business trends
2.3 Capacity trends
2.4 Type trends
2.5 Customer trends
2.6 Source trends
2.7 Regional trends
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Regulations
3.2.1 U.S
3.2.1.1 Federal Energy Regulatory Commission (FERC)
3.2.1.2 U.S. Environmental Protection Agency (EPA)
3.2.1.3 Federal Trade Commission (FTC)
3.2.1.4 Commodity Futures Trading Commission (CFTC)
3.2.1.5 Department of Energy
3.2.1.6 Internal Revenue Service (IRS)
3.2.1.7 Renewable Portfolio Standards (RPS)
3.2.1.8 State Environmental Agencies
3.2.1.9 State Utility Commissions
3.2.1.10 Securities and Exchange Commission (SEC)
3.2.1.11 Federal Infrastructure and Clean Energy Legislation
3.2.1.11.1 Inflation Reduction Act (IRA)
3.2.1.11.2 Bipartisan Infrastructure Law (BIL)
3.2.1.11.3 American Recovery and Reinvestment Act (ARRA)
3.2.1.12 Enforcement and Compliance Mechanisms
3.3 Price trend analysis
3.4 Industry impact forces
3.4.1 Market growth drivers
3.4.1.1 Rise of the voluntary REC market
3.4.1.2 Growth of small-scale renewable projects
3.4.2 Industry pitfall
3.4.2.1 Price volatility and standardization gaps
3.5 Growth potential analysis
3.6 Porter's analysis
3.7 PESTEL analysis
3.8 Emerging opportunities & trends
3.8.1 Digitalization & IoT integration
3.8.2 Emerging market penetration
3.9 Investment analysis & future outlook
Chapter 4 Competitive Landscape, 2025
4.1 Competitive landscape
4.2 Company market share analysis, 2024
4.3 Strategic dashboard
4.3.1 CMS Energy
4.3.1.1 Supply/installation
4.3.1.2 Business expansion
4.3.2 ClimeCo.
4.3.2.1 Partnership
4.3.3 Enel Green Power
4.3.3.1 Agreement
4.3.4 Avangrid Renewables
4.3.4.1 Agreement
4.3.5 ENGIE
4.3.5.1 Agreement
4.3.6 Constellation
4.3.6.1 Agreement
4.3.6.2 Contract
4.3.7 Duke Energy Corporation
4.3.7.1 Contract
4.4 Strategic initiatives
4.5 Competitive benchmarking
4.6 Innovation & technology landscape
4.6.1 3Degrees
4.6.2 ClimeCo LLC
4.6.3 Duke Energy Corporation
4.6.4 Entergy
Chapter 5 Market Size and Forecast, By Capacity, 2021 - 2034 (USD Million)
5.1 Key trends
5.2 5 MW - 15 MW
5.4 > 15 MW - 30 MW
5.5 > 30 MW
Chapter 6 Market Size and Forecast, By Type, 2021 - 2034 (USD Million)
6.1 Key trends
6.2 Voluntary
6.3 Compliance
Chapter 7 Market Size and Forecast, By Customer, 2021 - 2034 (USD Million)
7.1 Key trends
7.2 Commercial
7.3 Residential
7.4 Industrial
7.5 Transportation
Chapter 8 Market Size and Forecast, By Source, 2021 - 2034 (USD Million)
8.1 Key trends
8.2 Bioenergy
8.3 Hydro
8.4 Solar
8.5 Wind
8.6 Others
Chapter 9 Market Size and Forecast, By Region, 2021 - 2034 (USD Million)
9.1 Key trends
9.2 East North Central
9.3 West South Central
9.4 South Atlantic
9.5 North East
9.6 East South Central
9.7 West North Central
9.8 Pacific States
9.9 Mountain States
Chapter 10 Company Profiles
10.1 3Degrees
10.1.1 Financial Data
10.1.2 Product Landscape
10.1.3 Strategic Outlook
10.1.4 SWOT Analysis
10.2 Avangrid Renewables
10.2.1 Financial Data
10.2.2 Product Landscape
10.2.3 Strategic Outlook
10.2.4 SWOT Analysis
10.3 Carbon Better
10.3.1 Financial Data
10.3.2 Product Landscape
10.3.3 SWOT Analysis
10.4 CMS Energy
10.4.1 Financial Data
10.4.2 Product Landscape
10.4.3 Strategic Outlook
10.4.4 SWOT Analysis
10.5 Constellation
10.5.1 Financial Data
10.5.2 Product Landscape
10.5.3 Strategic Outlook
10.5.4 SWOT Analysis
10.6 Climate Impact Partners
10.6.1 Financial Data
10.6.2 Product Landscape
10.6.3 SWOT Analysis
10.7 ClimeCo LLC
10.7.1 Financial Data
10.7.2 Product Landscape
10.7.3 Strategic Outlook
10.7.4 SWOT Analysis
10.8 Duke Energy Corporation
10.8.1 Financial Data
10.8.2 Product Landscape
10.8.3 Strategic Outlook
10.8.4 SWOT Analysis
10.9 EDF Trading Limited
10.9.1 Financial Data
10.9.2 Product Landscape
10.9.3 SWOT Analysis
10.10 Entergy
10.10.1 Financial Data
10.10.2 Product Landscape
10.10.3 Strategic Outlook
10.10.4 SWOT Analysis
10.11 ENGIE
10.11.1 Financial Data
10.11.2 Product Landscape
10.11.3 Strategic Outlook
10.11.4 SWOT Analysis
10.12 Echoz
10.12.1 Financial Data
10.12.2 Product Landscape
10.12.3 SWOT Analysis
10.13 Enel Green Power
10.13.1 Financial Data
10.13.2 Product Landscape
10.13.3 Strategic Outlook
10.13.4 SWOT Analysis
10.14 Green Mountain Energy Company
10.14.1 Financial Data
10.14.2 Product Landscape
10.14.3 SWOT Analysis
10.15 Native Energy
10.15.1 Financial Data
10.15.2 Product Landscape
10.15.3 SWOT Analysis
10.16 STX Group
10.16.1 Financial Data
10.16.2 Product Landscape
10.16.3 SWOT Analysis
10.17 Shell
10.17.1 Financial Data
10.17.2 Product Landscape
10.17.3 SWOT Analysis
10.18 Statkraft
10.18.1 Financial Data
10.18.2 Product Landscape
10.18.3 SWOT Analysis
10.19 Sterling Planet Inc.
10.19.1 Financial Data
10.19.2 Product Landscape
10.19.3 SWOT Analysis
10.20 TerraPass
10.20.1 Financial Data
10.20.2 Product Landscape
10.20.3 SWOT Analysis

Search Inside Report

Pricing

Currency Rates
How Do Licenses Work?

How Do Licenses Work?

The primary function of a report license is to define how many people within a company are authorized to use the purchased report. This is separate to how a report might be delivered. Unless specifically identified otherwise, the purchase option is Single User. Below is a helpful description of that license, along with a sampling of others most commonly offered.

  • This license allows only one user to have access to and to use/read the report. It is not one user at a time or one user group; it is an individual who will be reading and utilizing the report.

  • This license allows for the entire purchasing company to read and use the report. This is the license level that would allow for a report to be placed on an internal company shared drive for access by all employees of that direct company. This license does not extend to parent or sister company use.

  • This license is designed to allow an entire department within a company full access to a report. The departmental license is a great option for companies that have more than one location and the department is spread out all over the country/world

  • This license is for companies that have one location where they want the report to be accessible by all employees within that physical location.

  • This is the most flexible of the licensing options. Some publishers will allow you to get a license for a preset number of people (typically 5). These licenses are ideal for small work groups.

License options are at the discretion of each publisher. As such, not all licenses indicated above are available for every product. If you are uncertain of the best license for your needs or would like a license that is not proactively available, please contact us and we will be happy to assist.

Request A Sample
Head shot

Questions or Comments?

Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
Chat Now
Contact Us