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Falling Short: An Evaluation of the Indian Renewable Certificate Market

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Gireesh Shrimali, Sumala Tirumalachetty, David Nelson
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This report analyzes the one-year old renewable energy certificate (REC) program in India. It finds that participation in the REC market has been low thus far, and it evaluates the REC market against eight government objectives. The authors find that the market is unlikely to meet four of the objectives and the outcome of the other four is unclear.