Falling Short: An Evaluation of the Indian Renewable Certificate Market


Climate Policy Initiative
Indian School of Business
Gireesh Shrimali
Sumala Tirumalachetty
David Nelson
1 December 2012

Driven by the need to meet mandates under the 2008 Renewable Purchase Obligation, India launched a Renewable Energy Certificate market. The authors review the market and its failures after one year of trading and offer ways to move toward creating a successful market. Recommendations include both improvements to the market and complimentary policies that help create a conducive atmosphere for investment.