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Climate TagsRenewable purchase obligation
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  • This report evaluates the first year of the Indian Renewable Energy Certificate (REC) market, launched in March 2011 to help meet the National Action Policy on Climate Change target of 15% renewable electricity by 2020. The authors find that the market has failed to attract significant investment or drive cost reductions due to low participation, poor enforcement of Renewable Purchase Obligations (RPO) by states, and a lack of long-term price signals. While the conceptual design is deemed adequate in some areas, the execution is hampered by the financial instability of State Electricity Boards and a preference among developers for traditional feed-in-tariffs.

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    Themes: renewable energyrenewable energy certificatesrenewable purchase obligationenergy policyindia
    Climate Policy Initiative

    Document type: Report

    Regions: India
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