When it comes to Renewable Portfolio Standard compliance, not all RECs are created equal.
3Degrees provides compliance Renewable Energy Certificates (RECs) to utilities and Load-Serving Entities (LSEs). Compliance RECs enable these utilities and LSEs to comply with Renewable Portfolio Standards (RPS). RPSs are policies enacted by state governments that require utilities and LSEs in the state to obtain a minimum percentage of their power from renewable energy resources.
However, these requirements vary state by state, with some states requiring that a certain percentage of the utility’s renewable energy be generated using a particular renewable energy technology (e.g. solar, wind), sourced from a specific geographical region, or secured from projects that have gone online after a certain date.
Thirty-nine U.S. states and territories have passed Renewable Portfolio Standards or set renewable energy goals.
Most states allow utilities to meet RPS requirements using Renewable Energy Certificates (RECs), which represent the generation and delivery of renewable energy to the power grid. However, each state has its own unique legal definitions for what constitutes a REC. To be used by a utility or LSE to satisfy its RPS obligations, RECs must meet the technology, geographical, project-online date and other requirements detailed in the state's RPS definition.
3Degrees provides certain utilities and LSEs with compliance RECs, allowing them to fulfill their renewable energy RPS obligations.