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Renewable Energy Credit (REC) Markets 101

Business & Compliance Strategies in Procurement, Trading & Project Finance

July 29 - 30, 2026 Online :: Central Time

The surge of public demand for renewable energy solutions to address de-carbonization and climate change objectives has pushed up the value and importance of renewable energy credits (RECs).  How utilities, load serving entities and corporate power consumers source their RECs is now a business in its own right.  It requires meticulous awareness as well as attention to the nuances of REC procurement, markets and trading. 

This symposium will dive into the dynamics of both voluntary and compliance REC markets, with particular emphasis on how they are formed and influenced through regulation, policy and evolving consumer awareness and demand. REC market experts will characterize active and emerging REC markets in the U.S., emphasizing key financial and contractual considerations.  They will interpret trends and dynamics in regulated and retail utility markets and green pricing programs, along with corporate renewable procurement through power purchase agreements (PPAs).  The program will offer insight into the important REC processes that utilities and corporate REC participants must perfect – such as verification, certification, system administration, and appropriate financial structuring – to achieve their optimum transactional value. 

Learning Outcomes

  • Assess the current landscape and history of environmental markets in North America
  • Identify the fundamentals of REC market dynamics, transaction and trading
  • Recognize compliance REC markets drivers, key trends and transactional elements
  • Discuss voluntary REC markets drivers, key trends and transactional elements
  • Review the requirements of registering, selling, settling and tracking RECs
  • Define critical REC transaction elements from a project developers’ perspective

Register

Please Note: This event is being conducted entirely online. All attendees will connect and attend from their computer, one connection per purchase. For details please see our FAQ

If you are unable to attend at the scheduled date and time, we make recordings available to all attendees for 7 days after the event

REGISTER NOW FOR THIS EVENT:

Individual attendee(s)$ 1295.00 each(early bird rate)
(price after July 17, 2026 is $ 1,495.00)
Volume pricing also available

Individual attendee tickets can be mixed with ticket packs for complete flexibility

Pack of 5 attendees$ 5,500.00 (15% discount)(early bird rate)
(price after July 17, 2026 is $ 6,350.00)
Pack of 10 attendees$ 10,360.00 (20% discount)(early bird rate)
(price after July 17, 2026 is $ 11,960.00)
Pack of 20 attendees$ 19,425.00 (25% discount)(early bird rate)
(price after July 17, 2026 is $ 22,425.00)

Your registration may be transferred to a member of your organization up to 24 hours in advance of the event. Cancellations must be received on or before June 19, 2026 in order to be refunded and will be subject to a US $195.00 processing fee per registrant. No refunds will be made after this date. Cancellations received after this date will create a credit of the tuition (less processing fee) good toward any other EUCI event. This credit will be good for six months from the cancellation date. In the event of non-attendance, all registration fees will be forfeited. In case of conference cancellation, EUCIs liability is limited to refund of the event registration fee only. For more information regarding administrative policies, such as complaints and refunds, please contact our offices at 303-770-8800

Day one

Wednesday, July 29, 2026

Day two

Thursday, July 30, 2026

Agenda

Wednesday, July 29, 2026
Central Time

Online

Log In

8:45 AM

Lunch Break

12:00 - 12:45 PM

Adjourn for the day

4:45 PM

8:45 AM - 9:00 AM

Log In

9:00 - 9:15 AM

Overview & Introductions

9:15 - 10:30 AM

Overview of U.S Renewable Energy Credit (REC) Markets

  • What are Renewable Energy Credits or Certificates?
  • What is a Renewable Portfolio Standard (RPS) and Clean Energy Standard (CES)
  • Why were these instruments created? How are RECs originated, created and transferred?
  • How have RPS and CES evolved over time in the US?
  • What are RPS Policy drivers?
  • How do State and CES policies affect renewable build
  • What are Alternative Compliance Payments (ACPs), how are they set, and how do they differ from state to state?
  • States with RPS programs and/or related RECs structures
  • US REC market size based and growth potential (S&P Global)
  • Standard for regions without RPS Policies (voluntary markets)
  • REC procurement and sale
  • Regulatory/legislative issues
  • Update on regional REC market activity
    • Renewable Energy Credit (REC) Market Dynamics
    • REC statistics by technologies
    • REC statistics by state
    • Multi-state qualification
    • Compare and contrast regional markets
    • Solar renewable energy credits (SRECs)
    • Carve-outs, set-asides and other focusing instruments
    • Describe a summary of oversupply/undersupply in the RECs market(s)
    • Overview of historical REC pricing by region
10:30 - 10:45 AM

Morning Break

10:45 AM - 12:00 PM

REC Registries & Administrative Aspects of Operation

  • Overview of RECs regional markets and North American REC Tracking Systems, or Registries
  • Overview of tracking system screens (include screenshots of 3-4 regional tracking systems)
  • Compare and contrast REC minting timelines/schedules and permissible trading periods
  • Summary of volume and historical data on each tracking system’s public reports
  • Compatibility within tracking systems (import and export to and from a specific tracking system)
    • Texas Renewable Energy Credit Program
    • PJM – Generation Attribute Tracking System (GATS)
      • Hourly or Granular RECs
    • Western Renewable Energy Generation Information System (WREGIS)
    • Midwest Renewable Energy Tracking System (M-RETS)
    • North American Renewables Registry (NAR)
    • North Carolina Renewable Energy Tracking System (NC-RETS)
    • NEPOOL – Generation Information System (New England)
  • Review how different registries operate
12:00 - 12:45 PM

Lunch Break

12:45 - 3:00 PM

REC Transactions & Trading Components

  • Identify REC market players (buyers, sellers, brokers, traders)
  • Technicalities of a REC transaction process (broker-facilitated and direct transaction)
    • Successful transaction mechanisms
    • Key components of REC contracts
  • Seller, Buyer, Product, Applicable Standard, REC Tracking System, Compliance Years, Contract Quantity, Contract Price, Total Contract Value, Payment Timing, Delivery Deadlines
  • Representation and Warranties
  • Events of Defaults and Remedies, how is settlement typically calculated
  • Change in Law provisions
    • Trade execution
    • Structured transactions (showcase an example of pre-payment deal, REC swap transaction, shaped pricing vs fixed price on a long-term trade)
  • ETRM solutions
    • Inventory management
    • Certificate tracking
    • Obligation calculation and management
    • Cross-market compatibility
  • Day in the life of a REC market participant
    • Trading RECs in voluntary and compliance markets
    • Types of transactions (Spot vs Forward, Long-term vs Short-term)
3:00 - 3:15 PM

Afternoon Break

3:15 - 4:45 PM

Compliance REC Transactions from the Perspective of Sponsors, Project Developers, Merchant Generators, Utilities, and Marketers

  • RECs role in the overall financing of a solar project (how much do RECs contribute to a revenue stack)
  • Piecing together a financial package for RECs
  • REC/RPS rules by region (map of US RPS states), eligible technologies and fuel, ACP table and RPS percentages
    • How compliance years are defined (calendar vs reporting year)
    • What are the REC banking rules
  • Compare and contrast RPS policies in PJM states or ISONE states
  • Carve-outs – what is the purpose of carve-outs
  • Price difference driven by carve-out policies
  • Clean Peak Energy Certificates and Clean Peak Standard in Massachusetts
4:45 PM

Course Adjourns for the Day

Agenda

Thursday, July 30, 2026
Central Time

Online

Log In

8:45 AM

Adjourn for the day

12:30 PM

8:45 AM - 9:00 AM

Log In

9:00 - 10:15 AM

Compliance REC Transactions (Continued)

10:30 AM - 12:30 PM

Voluntary REC & Green Power Markets Landscape

  • Background, status and trends
  • Voluntary REC market buyers and players
    • Corporations and large organizations
    • What is CRS (Center for Resource Solutions) Green-e Program?
    • What is a CRS Listed Facility
  • Showcase the Green-e eligible list of projects (technology, state, first operation year etc.)
  • Summarize to-date project numbers (by capacity) in state
  • Product types
  • What is a Green-e Energy Certified vs Green-e Energy Eligible (CRS Listed) product?
    • Selling in regulated and retail markets
    • Needs and considerations for existing programs
    • What are various costs of participation as a developer?
  • System administration for voluntary RECs
  • C&I REC market and purchase process
  • Showcase NREL Data on voluntary green power procurement
  • Technicalities of key processes in the voluntary REC market
    • Typical processes and interactions
    • Certification and eligibility
    • 21 month window and 15 year shelf life for CRS RECs
12:30 PM

Course Adjourns

Instructor

Nalin Deshpande

Senior Manager of Supply & Structuring

Pine Gate Renewables

Nalin Deshpande is Senior Manager of Supply & Structuring at Pine Gate Renewables.  Since joining the renewable energy project development company in 2021, he has structured, evaluated and negotiated complex structured products as well as support for debt and equity financing of solar projects by locking in long-term contracted REC revenues.  Mr. Deshpande serves as subject matter expert (SME) on trading and origination for the company-wide environmental products portfolio.  Before joining Pine Gate, he served more than five years at Customized Energy Solutions, most recently as Senior Analyst for Renewable Energy & Compliance Services.  Mr. Deshpande earned an Energy Engineering Technology degree from Maulana Azad National Institute (India), a Master's degree in Sustainable Systems from the University of Michigan and a certificate in Financing and Deploying Clean Energy from Yale University.

Continuing Education Credits

IACET

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EUCI is accredited by the International Accreditors for Continuing Education and Training (IACET) and offers IACET CEUs for its learning events that comply with the ANSI/IACET Continuing Education and Training Standard. IACET is recognized internationally as a standard development organization and accrediting body that promotes quality of continuing education and training.

EUCI is authorized by IACET to offer 1.0 CEUs for this event

Verify our IACET accreditation

 

Who recognizes IACET Credits?

Requirements for Successful Completion of Program

Participants must log in each day and be in attendance for the entirety of the event to be eligible for continuing education credit.

 

Instructional Methods

This program will use PowerPoint Presentations and group discussions.

CPE

Upon successful completion of this event, program participants interested in receiving CPE credits will receive a certificate of completion.

Course CPE Credits: 11.5
There is no prerequisite for this Course.
Program field of study: Specialized Knowledge
Program Level: Basic
Delivery Method: Group Internet Based
Advanced Preparation: None

CpeEUCI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

CLE

Only registered attendees can request CLE credits for an EUCI course/event. Please email [email protected] prior to the course start date and list the state where you are licensed and your bar# as well as the name and date of your course/event in your request, and someone will be in contact.

Who Should Attend

  • Solar, wind and other renewable energy project developers
  • Merchant and independent power producers
  • Utilities, load serving entities, and asset owners
  • Investors in renewable energy projects
  • Project managers associated with renewable energy development
  • Tax and consulting firms associated with renewable energy development
  • Lenders and related financial groups associated with in renewable projects
  • Legal professionals associated with renewable energy development
  • Risk professionals associated with renewable energy development

Staff Role

  • Procurement
  • Contract administration
  • Renewable energy planning
  • Integrated resource planning
  • (Resource) origination
  • Project management
  • Compliance