The UK renewable energy certificates market size reached USD 586.00 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 4,686.60 Million by 2033, exhibiting a growth rate (CAGR) of 23.10% during 2025-2033. The market is experiencing steady growth driven by substantial government incentives focusing on renewable energy sources, continual technological advancements in renewable energy, and robust corporate commitment to sustainability.
Report Attribute
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Key Statistics
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Base Year
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2024 |
Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 586.00 Million |
Market Forecast in 2033 | USD 4,686.60 Million |
Market Growth Rate (2025-2033) | 23.10% |
Increasing government support and incentives
Strong government support and incentives for renewable energy sources are significantly strengthening the market. Several policies have been implemented, which encourage investment in renewable energy and make such an investment worthwhile for businesses and individuals to invest in renewable energy. Along with this, incentives offered in the form of grants, tax rebates, and feed-in tariffs make renewable energy projects financially viable. Therefore, this is propelling the market growth significantly. Moreover, the commitment of the UK government to its pledge of reducing carbon emissions by 2050 undergirds a legislative framework that encourages renewable energy technologies, thus providing a stable and supportive environment for growth within the RECs market. For instance, in October 2024, the UK government unveiled a plan to create energy storage infrastructure, backing long-duration storage schemes. This will enhance energy security, reduce reliance on gas, and attract investment for clean energy and job creation. These government initiatives, in effect, provide an incentive for current investments and project long-term commitment to renewable energy, hence making the sector increasingly attractive to investors and stakeholders alike, and creating a positive market outlook.
Corporate commitment to sustainability
Corporate commitment toward sustainability and carbon neutrality targets is also an important driver for the market. Numerous business groups in such diversified industries have committed to minimizing their carbon footprint and achieving net-zero emissions. For instance, according to industry reports, the UK’s net zero sector is growing three times faster than the economy, growing 10% in 2024 and contributing £83 billion to GVA, while creating high-wage jobs and enhancing energy security. This is influenced by government policies but also by the consumer demand for environmentally responsible action. RECs are, therefore, critical tools through which businesses must comply with their aims of sustainability: it is the mark signifying that the energy business is using originates from renewable sources. This rising corporate demand for renewable energy solutions thus is expanding the RECs market as companies are aggressively seeking to subscribe to green energy programs and prove their commitment to the environment through accredited purchases of certified renewable energy. This increasing demand for RECs is prompting and fueling more businesses to become sustainable, where the use of renewable energy across the UK.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on energy type, capacity, and end use.
Energy Type Insights:
The report has provided a detailed breakup and analysis of the market based on the energy type. This includes solar energy, wind power, hydro-electric power, and gas power.
Capacity Insights:
A detailed breakup and analysis of the market based on the capacity have also been provided in the report. This includes 0-1000KWh, 1100-5000KWh, and more than 5000KWh.
End Use Insights:
The report has provided a detailed breakup and analysis of the market based on the end use. This includes voluntary and compliance.
Regional Insights:
The report has also provided a comprehensive analysis of all the major regional markets, which include London, South East, North West, East of England, South West, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, and others.
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Million USD |
Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
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Energy Types Covered | Solar Energy, Wind Power, Hydro-electric Power, Gas Power |
Capacities Covered | 0-1000KWh, 1100-5000KWh, More than 5000KWh |
End Uses Covered | Voluntary, Compliance |
Regions Covered | London, South East, North West, East of England, South West, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, Others |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
Key Benefits for Stakeholders: