California REC markets
California's RPS,enacted on September 12, 2002 (SB 1078), requires retail sellers of electricity to purchase 20% of their electricity from renewable resources by 2017, and was already the most aggressive RPS in the country. Due to significant Individual owned utilities(IOUs) progress towards the 2017 goal, the CPUC accelerated the timeline of this 20% renewables goal to 2010 and expanded the states goal to 33% by 2020.
Eligible renewable resources include biomass, solar thermal, photovoltaics, wind, geothermal, fuel cells using renewable fuels, small hydropower of 30 megawatts or less, digester gas, landfill gas, ocean wave, ocean thermal and tidal current.
Under the RPS, retail sellers of electricity are required to increase their procurement of eligible renewable-energy resources by at least 2% per year, so that 20% of their retail sales are procured from eligible renewable energy resources by 2010. Unlike Northeast, ERCOT and PJM, the California renewable structure doesn't support unbundled green attributes like RECs and all transactions are bundled. The Western Renewable Energy Generation Information System (WREGIS) is the tracking system for the implementation of California's RPS.