How I-REC Works

I-RECs are issued when a renewable energy power plant registers its generation unit with I-REC issuers. Independent third-party auditors may be involved to verify the amount of RE generation to the number of I-RECs. The I-REC Issuer then proceeds to issue the I-REC, which is subsequently tracked from its source of generation to its eventual claim by the end user through I-REC’s Registry.

Issuing I-RECs

Production devices that meet the eligibility criteria and are registered for I-REC can generate electricity and request the issuance of I-REC standard certificates for each electricity generation event. Once the third-party data is received by the issuer, a thorough review of the request is conducted, and I-RECs are then issued for the production facility corresponding to the specific time period. The issuer is responsible for generating or issuing the I-RECs, which are subsequently recorded in the electronic registry. Given the centralized nature of the I-REC registry, the process of auditing and oversight of I-REC issuance is efficiently managed and monitored by the system operator, as well as by third-party observers.

Redemption of I-RECs

Redemption occurs when an I-REC certificate is moved into a redemption account. The participant, be it an electricity supplier or consumer, can claim their utilization or consumption of a specific volume of renewable electricity corresponding to the volume of I-RECs in the participant's redemption account. Disclosure statements can be published and used as proof of I-REC redemption by the end-consumers of electricity and I-REC.