Renewable Energy Certificates in Singapore
Enjoy hassle-free selling of Renewable Energy Certificates (RECs) with GetSolar. Maximise your solar system’s potential and shorten your breakeven period by selling RECs.
What are Renewable
What are Renewable Energy Certificates (RECs)?
RECs are tradeable, market-based instruments that prove electricity has been generated from renewable energy sources. For each megawatt-hour (MWh) of renewable energy produced, one REC is created.
Your solar panel system is no exception: You too can generate and sell RECs.
Why Sell Renewable Energy Certificates in Singapore?
Solar is getting increasingly popular in Singapore. If you have already embraced solar energy by installing solar panels in Singapore, selling RECs is the next step to maximising the benefits of your solar system.
When you sell RECs in Singapore, you unlock an extra stream of annual income. This extra cash can potentially shorten the time it takes to recoup your solar investment by approximately 6 – 12 months, bringing your breakeven point even closer.
The value of RECs is typically subject to market fluctuations based on supply and demand. As of mid-2023, small or medium asset owners can expect to receive between SGD $20 to $35 for each REC sold. This means that the average solar homeowner can earn anywhere between SGD $300 to $600 every year.
Be A Part Of GetSolar
How Would You Be Involved in the Renewable Energy Certificate Process?
Ready to embrace solar panels for your home? Enjoy the flexibility to opt for either of the 2 plans available: Rent-To-Own or upfront purchase.
You, the homeowner, own RECs that can be sold to buyers on the marketplace without incurring any costs.
GetSolar enables convenient trading of RECs as we register your assets, search for buyers and sell RECs periodically on your behalf while absorbing all costs in the process.
Our buyers are companies who wish to play their part in environmental sustainability, and therefore, submit their request to purchase RECs to us.
How to Sell?
How to Sell Renewable
Our RECs are issued with the strict standardised renewable instruments under authorised international REC registries APX or I-REC Standard. Here are the steps for selling RECs with us:
Submit your solar system details and registration documents.
Provide us with your authorisation to manage and sell the RECs for you.
We help you register and verify your assets on the international registries.
Twice a year, we help you register your clean energy generated as RECs and search for buyers to sell them on your behalf.
Receive regular cash payouts directly to your bank account once your RECs are sold.
Why Choose GetSolar?
No out-of-pocket costs
Selling RECs on your own would mean most of your profit would be absorbed by transaction fees. With GetSolar, all transactions are free of hidden costs and registration fees. Simply grant us authorisation to manage your RECs and enjoy consistent cash payouts from your REC sales.
You no longer need to go through the time-consuming process of registering and verifying your solar system, and subsequently finding a seller.
With more than 150 assets under management and growing, let our solar experts handle the hard work for you
What sets our programme apart from other companies is the predictability it offers, where you can be sure to enjoy a steady stream of side income.
Our payouts are made twice a year and our commitment to fixed prices ensures that your earnings remain consistent and unaffected by market fluctuations.
FAQs About Renewable Energy
Certificates in Singapore
No, RECs are the same regardless of your electricity retailer. These certificates are generated according to the amount of renewable energy produced by your solar panels and are issued by international registries such as the I-REC Standard or TIGR by APX.
Absolutely not! RECs are simply digital certificates that are issued to certify that clean energy is generated from a specific solar asset. Selling RECs makes no difference to your solar panel system as well as the way you consume your electricity.
RECs are still a relatively new asset class, and are purchased by MNCs or large corporations to achieve their net zero targets. Prices of RECs in the market are determined by these factors:
- Number of buyers Volume of RECs they would like to purchase
- Supply of RECs from renewable energy sources available.
As of mid-2023, selling 1 REC in Singapore for small or medium asset owners will fetch between SGD $20 to $35.
Your pay-outs will be done via PayNow or bank transfer and will usually take 1 week to complete. This is done twice yearly and you will receive an email notification with a payment notice before the bank transfer takes place.