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                 DIRECTORY OF CERTIFIED COMPANIES IN SINGAPORE 2022/2023
  Management and use of renewal energy certificates (RECs)
A growing environmental awareness has seen the demand for renewable electricity in Singapore spike faster than what Singapore can supply. The government and buyers have been looking for ways to reliably obtain renewables from within Singapore and the greater region, while numerous renewable energy tracking systems look to bring Renewable Energy Certificate (REC) options to the market.
On 26 October 2021, the new SS 673: Code of Practice for Renewable Energy Certificates (RECs), was launched by SSC and ESG, together with the National Environment Agency (NEA) and Energy Market Authority (EMA), to facilitate consistency for the transaction and management of RECs.
Jointly developed with industry players and the Sustainable Energy Association of Singapore (SEAS), SS 673 aims to provide a clear framework to improve the integrity of measurement, reporting and verification (MRV) requirements for the issuance and management of RECs. While SS 673 is a voluntary standard and not a national requirement, it is likely that tracking systems wishing to serve the Singapore market will conform to these rules, helping to standardise how RECs are issued, tracked, and retired.
SS 673 covers guidelines across the lifecycle of RECs – from production, tracking, management, to the usage of the certificates for renewable energy claims in Singapore. With relevance to renewable energy installation owners, SS 673 sets out requirements that define the types of renewable energy sources that may qualify to generate RECs tracked in
registries. For REC registries and verifiers, SS 673 provides guidelines on how renewable energy installations should be registered, verified and its metering data validated; on the proper issuance, transference, and retirement of RECs, and error management. For end-users, the standard recommends how users can make renewable energy consumption claims and highlights the best practices.
With the
requirements set out in SS 673, the renewable energy industry will be able to provide greater assurance on the credibility of RECs available in the marketplace. Also applying to energy imports, this will enable the renewable energy industry to access a wider selection of trusted sources in the region to engage in the trading of RECs, which end-users can use to meet their sustainability goals.
transparency
of MRV
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