Huge market growth in March and release of full market Statistics for I-REC(E) in 2021

Apr 26, 2022

March 2022 Market Statistics

The I-REC Standard Foundation applauds the Code Manager of Electricity, Evident Services, on their record-breaking month in terms of both redemption and issuance. In March 2022, the market saw more than 28TWh of issuance and more than 19TWh of redemptions. The growth was market-wide and shows the increasing demand for well-defined, attribute tracking certificates for electricity.

Market Statistics Overview

The market statistics for the I-REC for Electricity market facilitated by Evident Services are released for 2021. These s showed a 100% growth and development rate for the I-REC for electricity market globally year-on-year.

Beyond this March 2022 saw unprecedented growth with over 19TWh of redemptions and 28TWh of issuance in that single month, alone. The growth in usage in March was not relegated to a single market but saw exponential growth in multiple markets and countries across three continents.

The graph below details the general volume growth and system improvement of the I-REC for electricity issuance. Since the development of the I-REC Standard Foundation and the development and implementation of the I-REC(E) market in 2015, the tracking of renewables in over 50 countries shows the usage (growth) of the certificates grow 100% year over year.

These statistics are updated monthly, and the most recent statistics, for March 2022, are available here.