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Proceedings from the Renewable Energy Certificate (REC) Markets and Challenges Workshop

September 11, 2007 | Washington, DC

The Office of Energy Efficiency and Renewable Energy (EERE) at the U.S. Department of Energy (DOE) sponsored a one-day workshop for renewable energy credit (REC) market participants and policy thought leaders on September 11, 2007. Approximately 65 individuals representing state and federal government agencies, renewable energy project developers, REC tracking systems, brokers, marketers and financiers, and environmental and energy policy experts gathered in Washington, D.C. At the workshop, participants exchanged views on lessons learned from REC market implementation; factors that constrain REC markets; the potential value of REC rationalization; and key activities and appropriate players needed to increase the liquidity of REC markets. In doing so, DOE hopes to foster broad and liquid REC markets and to maximize investment in renewables.

Agenda

Some of the following documents are available as Adobe Acrobat PDFs. Download Adobe Reader.

Workshop Materials:
Official Agenda (PDF 32 KB)
Attendees List (PDF 92 KB)
RECs Workshop Summary and Discussion (PDF 128 KB)

Opening Remarks

Steven Chalk, Deputy Assistant Secretary for Renewable Energy - U.S. Department of Energy
Jennifer Owen, Legislative Affairs Advisor - U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy

The RECs Market and Policy Context
Moderator: Lori Bird, National Renewable Energy Laboratory

Overview of RECs Markets and Prices
Andrew Kolchins, Evolution Markets (PDF 2.4 MB)
Working with the States to Address RPS/RECs Issues
Jennifer DeCesaro, Clean Energy States Alliance (PDF 560 KB)
Status Report on REC Verification, Tracking Systems and Associated Issues
Meredith Wingate, Center for Resource Solutions (PDF 1.3 MB)

Discussion Panel on REC Markets, Prices, Trading, and Liquidity

Moderator: Karlynn Cory, National Renewable Energy Laboratory

Panelist Questions (PDF 32 KB)

Brent Beerley, IBERDROLA - Marketer Perspective
Carrie Cullen-Hitt, Constellation NewEnergy - Retailer Perspective
Carrie Plemons, PPM Energy - Generator Perspective
John Pappas, PG&E - Purchaser Perspective
Jim Scarrow, Chadbourne & Parke - Financier Perspective

Discussions Panel on RPS Policies and Supporting Infrastructure

Moderator: Ryan Wiser, Lawrence Berkeley National Laboratory

Panelist Questions (PDF 32 KB)

Paul Douglas, California Public Utilities Commission
Paul Helgeson, Wisconsin Public Service Commission
Rick Morgan, District of Columbia Public Service Commission
Devon Walton, APX
Jeff Bladen, PJM-EIS

Discussion of Key Issues and Market Needs

Facilitators: Catherine Morris, Beth Fascitelli & Jeremy Kranowitz, the Keystone Center

Concurrent breakout sessions (PDF 28 KB)

Breakout session #1: Using RECs for Project Financing
Breakout session #2: Harmonizing REC Programs and Tracking Systems to Facilitate Regional/National Markets

Summation/Next Steps

Catherine Morris, the Keystone Center
John Atcheson, Weatherization and Intergovernmental Program - U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy

Please direct any questions to Karlynn Cory.