Question 1

What are renewable energy certificates (RECs) in the context of solar PV?

Accepted Answer

Renewable energy certificates (RECs) are tradable commodities that represent proof that one megawatt-hour of renewable energy has been generated. In the context of solar PV, these certificates provide a way to track and incentivise the production of solar energy.

Question 2

How do renewable energy certificates benefit the renewable energy sector?

Accepted Answer

RECs boost the renewable energy sector by providing financial incentives for solar energy production, which encourages more investments in renewable technologies and helps to increase the overall share of clean energy in the market.

Question 3

Can renewable energy certificates help in achieving energy independence?

Accepted Answer

Yes, renewable energy certificates can contribute to energy independence by promoting the development of domestic renewable energy sources, reducing reliance on imported fossil fuels and enhancing local energy security.

Question 4

In what ways do renewable energy certificates reduce reliance on fossil fuels?

Accepted Answer

By providing monetary incentives for the generation of renewable energy, RECs encourage the transition away from fossil fuels, enabling more households and businesses to adopt solar PV systems and thus decreasing overall fossil fuel consumption.

Question 5

What impact do renewable energy certificates have on job creation?

Accepted Answer

The increase in solar PV installations, spurred by the value of renewable energy certificates, leads to job creation in various sectors, including manufacturing, installation, maintenance, and other related fields, thereby stimulating overall employment opportunities.