I-REC, International Renewable Energy Certificates are similar certificates to the European Guarantee of Origin Certificates.
I-REC, International Renewable Energy Certificates are similar certificates to the European Guarantee of Origin Certificates. The I-REC standard is a rapidly growing scheme established in Asian, African, Middle Eastern and Latin American countries. The figures below show over 51 countries that take part in this scheme.
I-REC is recognised by the Greenhouse Gas Protocol Scope 2 Guidance as a way or documenting and proving your electricity consumption from a renewable source. Each I-REC certificate represents 1MWh of electricity that is produced from a renewable source. I-RECs are part of a voluntary system that can be used to reduce your greenhouse gas emissions and increase your sustainability ratings. When redeemed, they can be used as verifiable documents for a sustainability or environmental report. The money generated from the sale of these certificates is used by renewable energy generators to develop current and new renewable energy generation. Each certificate corresponds to 1MWh (megawatt hour) of renewable electricity.
Each country has its own I-REC issuing body, with several issuing bodies overlapping and being used in different countries. Each I-REC certificate can be cancelled electronically in a registry. It is tracked and so cannot be redeemed twice or sold twice for double counting.
The International REC Standard (The I-REC Standard) runs the I-REC operations. It is a not-for-profit organisation to help electricity buyers and suppliers do their part into helping the world transition from a fossil fuel and gas sourced electricity production to a more renewable production. The I-REC standard enables the trade of I-REC certificates among corporates, traders, electricity suppliers, generators, and governments.
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