Renewable energy certificates (RECs) are instruments that unbundle the environmental attributes of electricity from the electricity itself. One certificate is created for every megawatt-hour of renewable electricity generated and registered under a tracking system.
| Country (Issuer) | 2022 Issuance (MWh) | 2023 Issuance (MWh) | 2024 Issuance (MWh) | Partial 2025 Issuance (MWh) |
|---|---|---|---|---|
| UAE – Abu Dhabi DoE and WGEO | 22,910,000 | 40,670,000 | 46,060,000 | 15,160,000 |
| Saudi Arabia – GCC | 118,731 | 1,900,000 | 10,350,000 | 5,230,000 |
| Oman – Three Pillars Consulting | 462,533 | 2,030,000 | 1,720,000 | 870,000 |
| Egypt | 548,633 | 776,314 | 923,520 | 96,703 |
| Morocco | 90,057 | 151,105 | 362,308 | 93,900 |
| Jordan – RSS | 71,760 | 272,056 | 35,522 | 8,447 |
| Lebanon – LCEC | - | - | 71 | 0 |
Select a country to view detailed information about its renewable energy certificate market.
Massive issuance in the UAE has created an oversupply, keeping certificate prices low (~US$1-2 per MWh).
Countries like Morocco and Qatar are developing national guarantee-of-origin schemes.
The EU's Carbon Border Adjustment Mechanism may accept RECs as evidence of low-carbon electricity.
Granular certificates (hourly energy attribute certificates) are gaining traction for improved transparency.