RECs In Secured Transactions Under Calif. Law

Law360, New York (March 23, 2009, 12:00 AM EDT) -- A majority of states have established renewable energy credit (REC) markets as a practical means to track and achieve compliance with renewable portfolio standard (RPS) policies.

Each state sets its own parameters for the use of RECs, but the principle is generally the same: utilities may purchase RECs — certificates or other instruments representing the “attributes” of an amount of renewable energy generated from a qualifying source — from generators and apply them toward the minimum renewable energy requirement mandated in the applicable state RPS....
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