What is an I-REC?

An I-REC (International Renewable Energy Certificate) is a globally recognized standard for tracking and verifying the attributes of renewable electricity generation and consumption outside of North America and Europe, where other REC systems and Guarantees of Origin (GOs) are prevalent.  

Here's a breakdown of what an I-REC entails:

• International Standard: The I-REC Standard was established to provide a robust and transparent system for countries and regions that did not have their own organized renewable energy tracking systems. It's administered by the I-REC Standard Foundation (formerly I-TRACK Foundation).  
   
• Proof of Renewable Electricity: Like RECs in the US and GOs in Europe, one I-REC represents the environmental attributes associated with the generation of one megawatt-hour (MWh) of renewable electricity.  
   
• Global Coverage: I-RECs are used in over 60 countries across Asia, Africa, the Middle East, and Latin America. This makes them particularly valuable for multinational companies looking to track and claim renewable energy use across their global operations.  
   
• Tracking System: The I-REC system involves a registry that issues, tracks, and retires certificates. This ensures that the ownership and environmental benefits of the renewable electricity are clearly accounted for and cannot be double-counted.  
   
• Voluntary Markets: I-RECs primarily serve voluntary renewable energy markets, allowing businesses and individuals to support renewable energy and reduce their Scope 2 emissions (indirect emissions from purchased electricity). They are recognized by major reporting frameworks like the Greenhouse Gas Protocol (GHGP), CDP, and RE100.
• Attributes Tracked: Each I-REC contains information about the electricity generation, including:
  • Production date
  • Location of the power plant
  • Renewable energy technology used (e.g., solar, wind, hydro)
  • Commissioning date and installed capacity of the power plant
• Equivalency to Other Certificates: While geographically focused outside of North America and Europe, the fundamental concept of an I-REC is similar to that of a REC in the USA or a GO in Europe – one certificate represents one MWh of renewable electricity.  
   

Key Differences Between I-RECs and North American RECs:

• Geographic Scope: I-RECs are for regions outside North America and Europe, while RECs (like those tracked by M-RETS, WREGIS, PJM GATS, etc.) are specific to the US and Canada.  
   
• Standardization: I-RECs aim for a more unified international standard compared to the potentially varying REC programs and criteria in different North American regions.
• Applications: While both are used for voluntary claims, I-RECs are particularly important for companies with international operations needing a globally recognized instrument. North American RECs are primarily used for compliance with state RPS programs and voluntary green power purchases within those regions.  
   

In summary, an I-REC is a crucial tool for promoting and tracking renewable energy consumption in regions without established REC systems, providing a standardized and credible way for organizations worldwide to meet their sustainability goals.