Market Overview

According to the fortune business insights, the global renewable energy certificate market size was valued at USD 29.78 billion in 2025. The market is projected to grow from USD 32.29 billion in 2026 to USD 65.05 billion by 2034, exhibiting a CAGR of 9.15% during the forecast period. Europe dominated the global market with a share of 41.67% in 2025.

The analysis shows that the demand for Renewable Energy Certificates (RECs) is increasing globally owing to various regulatory, corporate compliances, and sustainability initiatives. For instance, in 2023, the I-REC(E) program issued 283 million certificates, a ~42% increase over 2022, while redemptions grew ~81% compared to the previous year. This trend indicates strong demand for RECs worldwide.

Major Players Profiled in the Market Report:

• 3Degrees, Inc. (U.S.)
• STX Group (Netherlands)
• EDF Trading Limited (U.K.)
• Sterling Planet (U.S.)
• AFS (Netherlands)
• Engie (France)
• Ecohz (Norway)
• REDEX (Singapore)
• Evolugen (Canada)
• Statkraft (Norway)
• Shell Energy (U.K.)
• Enel Spa (Italy)

Segments

Use of Compliance RECs to Meet Renewable Energy Targets to Drive Segment Growth

Based on type, the market is divided into compliance and voluntary. The compliance segment holds the largest market share and is projected to dominate the market with a 61.88% share in 2026, owing to its role as the primary mechanism for utilities to fulfill legally mandated renewable energy obligations.

Affordability and Flexibility to Drive the Unbundled Certificates Segment Growth