Research reports indicate that global warming is a major cause of climate change. Though air pollution from vehicles is evident, but impact on air quality, due to energy generation from fossil fuels is far more serious. Fossil fuel is most widely used globally for generation of electricity all across the globe, which not only leads to pollution and global warming, but also poses a major health risks to humans.
Renewable Energy is the safest alternative today to meet the rising energy demand, without affecting the climate. Though any new renewable energy alternative has been unviable without financial assistance or additional benefits.
Some of the countries have come up with a unique way of encouraging energy generation from renewable sources, by attributing a green component to the energy generated from renewable energy sources. This green component, is popularly known as Renewable Energy Certificates (RECs), Green tags, Renewable Energy Credits, Renewable Electricity Certificates, or Tradable Renewable Certificates (TRCs) etc. The RECs are tradable, non-tangible energy commodities represent proof that 1 megawatt-hour (MWh) of electricity was generated from an eligible renewable energy resource (renewable electricity).