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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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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.