Solar renewable energy certificate (REC) trading surged in July 2018, whereas non-solar REC trading continued to decline.

In July 2018, 1,382,632 solar RECs were traded. This was 790,231 solar RECs more than the 592,401 solar RECs traded in the previous month of June 2018. All solar RECs traded at a price of ₹1,000 (~$14.50).

On the Indian Energy Exchange (IEX), a total of 808,324 solar RECs were traded with buy bids at 808,324 and sell bids at 2,258,417. This is 520,254 more solar RECs than the 288,070 traded on the IEX in June 2018. On the IEX, 417 entities participated in solar REC trading in July 2018, 23 more than the 394 that traded in June 2018. The important buyers of RECs on the IEX were distribution companies, captive power producers and open access consumers.

The Power Exchange India Limited (PXIL) registered 574,308 buy bids for solar RECs. This is 269,977 more solar RECs than the 304,331 that were traded on PXIL in June 2018. PXIL attained a market share of more than 41 percent in solar REC trade.

Like the previous trading session, the non-solar RECs in this session were traded in two categories: RECs issued before April 1, 2017, and RECs issued after it. Mercom recently reported that non-solar RECs issued on or after April 1, 2017, are to be sold at a floor price of ₹1,000 (~$14.809)/REC, in line with the latest ruling passed by the Supreme Court.

Non-solar REC trade continued its slump in July 2018. A total of 235,437 non-solar RECs were traded in July 2018 trading session. This is 68,391 fewer non-solar RECs than the 3,03,828 traded in June 2018.

Per IEX, a total of 191,988 non-solar RECs were traded with buy bids at 655,553 and sell bids at 264,901. The clearing price discovered was ₹1,200 (~$17.4602)/REC.

According to PXIL, a total of 43,449 non-solar RECs were traded with buy bids at 276,832 and sell bids at 48,721. The clearing price discovered was ₹1,050 (~$15.2777)/REC.

Not a single non-solar REC issued on or after April 1, 2017, was traded.