Friday, March 07, 2014: The growing solar power adoption as a major energy source has had a great impact on the energy structure. The volume of solar renewable energy credits (SRECs) that are traded in India, reached its four-month high peak during February 2014. The credits reportedly reached at 8,308.
According to an analysis by RESolve Energy Consultants, which is a Chennai based firm, the SRECs reached its peak at 8,308, with representing a 31 per cent increase over January 2014 trading volumes.
All the same, supply still exceeds demand in the sector by a large difference, and prices remain inferior at Rs 9,300, that is, $150, only. During February , 35,800 SRECs were issued that brought up the closing balance to 126,000. The Indian SRECs have been at the floor price, since June 2013.
In January 2014, the traders exchanged 6,361 Indian SRECs. This was the lowest level in the last five months. For the six of the last seven months, the number of SRECs redeemed during a month have been far below than the number issued. By the end of the month of January, the backlog was 98,660.
