Renewable Energy coverage.
Overview
Renewable energy credits are the most numerous category of Indian carbon credits, driven by large solar and wind installations in Rajasthan, Gujarat, Tamil Nadu, and Karnataka. V4 rates renewable energy credits using current CEA grid emission factors for each assessment period, and retroactively adjusts ratings where historical filings used incorrect or outdated factors. IMD irradiance and wind speed data provide independent capacity factor benchmarks.
Sample ratings
Illustrative ratings drawn from the V4 database. Project codes are anonymised.
Quality in the renewable energy category
Quality in the renewable energy category is strongly correlated with the accuracy of grid emission factors and the strength of the additionality case. Projects registered before India's RPO policy environment tightened (pre-2019) tend to have stronger additionality cases than those registered after.
States covered
Common issues in renewable energy credits
- -CEA grid emission factor from a different quarter used to calculate credits
- -State RPO mandate makes the project financially necessary regardless of credits
- -Generation monitoring relies on self-reported meter readings without independent verification
- -Capacity factor overstated relative to IMD irradiance data for the project location