Region: Renewable energy guarantees scheme could boost energy transition

, SEE Energy News

Guarantees of origin certify the production of energy from renewable sources and could serve as an important tool to boost renewables investment and drive the energy transition.

The Energy Community (EnC) Secretariat presented its report on the implementation of the guarantees of origin system at the second regional meeting, with the participation of 60 stakeholders from issuing bodies, ministries and other relevant institutions. The contracting parties are currently lagging behind in the establishment of the electronic system needed to issue and trade guarantees of origin, despite being mandatory under the Renewable Energy Directive.

The ultimate purpose of the report is to show options for the establishment of an efficient regional renewable energy certification system, allowing guarantees of origin to be issued and then traded among the contracting parties. Participation in the regional system will allow for the effective issuance of national guarantees of origin by default, and may constitute the first step towards integration with the European market.

The Secretariat will support the establishment of the regional scheme and invited the issuing bodies to confirm their interest in writing no later than 11 April 2021.  The report also points to potential restrictions in the recognition of guarantees of origin between the EU member states and the contracting parties, which should be addressed in the ongoing revision of the Renewable Energy Directive in the European Union.