Renewable Energy Certificates (RECs), also known as Green tags, Renewable Energy Credits, Renewable Electricity Certificates, or Tradable Renewable Certificates (TRCs), are tradable, non-tangible energy certificates in the United States that represent proof that 1 megawatt-hour (MWh) of electricity was generated from an eligible renewable energy resource and was fed into the shared system of power lines which transport energy. Solar renewable energy certificates (SRECs) are RECs that are specifically generated by solar energy.
NRG Energy, Inc. is an American energy company, headquartered in Houston, Texas. It was formerly the wholesale arm of Northern States Power Company (NSP), which became Xcel Energy, but became independent in 2000. NRG Energy is involved in energy generation and retail electricity. Their portfolio includes natural gas generation, coal generation, oil generation, nuclear generation, wind generation, utility-scale generation, and distributed solar generation. NRG serves over 7 million retail customers in 24 US states including Texas, Connecticut, Delaware, Illinois, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Ohio; the District of Columbia, and eight provinces in Canada.
Solar power is a fast-growing industry in Australia. As of September 2023, Australia's over 3.60 million solar PV installations had a combined capacity of 32.9 GW photovoltaic (PV) solar power, of which at least 3,823 MW were installed in the preceding 12 months. In 2019, 59 solar PV projects with a combined capacity of 2,881 MW were either under construction, constructed or due to start construction having reached financial closure. Solar accounted for 12.4% of Australia's total electrical energy production in 2021.
Financial incentives for photovoltaics are incentives offered to electricity consumers to install and operate solar-electric generating systems, also known as photovoltaics (PV).
China is the world leader in wind power generation, with the largest installed capacity of any nation and continued rapid growth in new wind facilities. With its large land mass and long coastline, China has exceptional wind power resources: Wind power remained China's third-largest source of electricity at the end of 2021, accounting for 7.5% of total power generation.
Solar power includes solar farms as well as local distributed generation, mostly on rooftops and increasingly from community solar arrays. In 2023, utility-scale solar power generated 164.5 terawatt-hours (TWh), or 3.9% of electricity in the United States. Total solar generation that year, including estimated small-scale photovoltaic generation, was 238 TWh.
New York has 2,192 MW of installed wind power capacity as of 2022. Most of New York's wind power is located in upstate New York as onshore wind farms. New York has set a goal of developing 9,000 MW of offshore installed wind power capacity by 2035 that will power an estimated 6 million homes. As of October 2022, New York has five offshore wind farms in development with approximately 4,300 MW installed capacity.
Renewable energy in Canada represented 17.3% of the Total Energy Supply (TES) in 2020, following natural gas at 39.1% and oil at 32.7% of the TES.
New Jersey has over 4,700 MW of installed solar power capacity as of January 2024, which provides more than 7% of the state's electricity consumption. The's state's growth of solar power is aided by a renewable portfolio standard that requires that 22.5% of New Jersey's electricity come from renewable resources by 2021 and 50% by 2030, by incentives provided for generation of solar power, and by one of the most favorable net metering standards in the country, allowing customers of any size array to use net metering, although generation may not exceed annual demand. As of 2018, New Jersey has the sixth-largest installed solar capacity of all U.S. states and the largest installed solar capacity of the Northeastern States.
In 2019, North Carolina's total gross state product was around $591 billion.
The energy sector in Hawaii has rapidly adopted solar power due to the high costs of electricity, and good solar resources, and has one of the highest per capita rates of solar power in the United States. Hawaii's imported energy costs, mostly for imported petroleum and coal, are three to four times higher than the mainland, so Hawaii has motivation to become one of the highest users of solar energy. Hawaii was the first state in the United States to reach grid parity for photovoltaics. Its tropical location provides abundant ambient energy.
Energy in Malta describes energy production, consumption and import in Malta. Malta has no domestic resource of fossil fuels and no gas distribution network, and relies overwhelmingly on imports of fossil fuels and electricity to cover its energy needs. Since 2015, the Malta–Sicily interconnector allows Malta to be connected to the European power grid and import a significant share of its electricity.
South Australia is a leader in utility-scale renewable energy generation, and also produces gas and uranium for electricity generation. Gas production is mostly concentrated in the Cooper Basin in the state's north-east. Gas is delivered from these fields by pipeline to users interstate and to Port Adelaide where it fuels three separate gas-fired power plants. Uranium is also mined in South Australia, though nuclear power generation is prohibited nationally. The Olympic Dam mine is the world's single largest known deposit of uranium and represents 30% of the world's total uranium resource. Many utility-scale wind farms and solar farms have been commissioned during the 21st century and geology with potential for geothermal energy has also been identified but is yet to be developed.
Solar power in Massachusetts has been increasing rapidly, due to Section 1603 grants for installations that began before December 31, 2011, and the sale of SRECs for $0.30/kWh, which allows payback for the system within 5 or 6 years, and generates income for the life of the system. For systems installed after December 31, 2011, and before December 31, 2016, the 30% tax grant becomes a 30% tax credit. There has been an appeal to the Congress to extend the 1603 program, the grant program, for an additional year.
New York has a renewable portfolio standard of 30% from renewable sources by 2015. In 2015 24% was renewable, 6% short of the goal. Wind is the predominant generating technology. In 2018, the New York State Energy Research and Development Authority awarded long-term contracts to 22 utility-scale solar farms, totaling a combined capacity of 646 MW.
Solar power in Georgia on rooftops can provide 31% of all electricity used in Georgia.
Solar power in Maryland is supported by the state's legislation regarding the Renewable Portfolio Standard and Solar Renewable Energy Credit (SREC) program. The target for renewable energy as of 2017 is 20% by 2020, including 2% from solar power.
Solar power in Virginia on rooftops is estimated to be capable of providing 32.4% of electricity used in Virginia using 28,500 MW of solar panels. Installing solar panels provides a 6.8% return on investment in Virginia, and a 5 kW array would return a profit of $16,041 over its 25 year life.
As of the end of 2021, New Mexico had 4,001 megawatts (MW) of wind powered electricity generating capacity, responsible for 30% of electricity produced that year. Wind power in New Mexico has the potential to generate more than all of the electricity consumed in the state.
The electricity sector in Australia has been historically dominated by coal-fired power stations, but renewables are forming a rapidly growing fraction of supply. In 2021, Australia's electricity production reached 265 TWh, with coal accounting for 52.9% and natural gas for 18.8%. Renewable sources, comprising solar, wind, hydro, and bioenergy with waste, collectively made up 26.7% of the total electricity generation mix.
