A Renewable Energy Credits Trading System will also be created within twelve months so that companies who are exceeding their renewable targets can trade additional credits to others that are under performing.
Analysis: We have a similar trading scheme in Australia called, remarkably enough, Renewable Energy Credits or just RECs. RECs can be created by residential solar hot water systems, photovoltaic installations, hydro, wind, or other forms of renewable energy generation. It's a great way to encourage excess production of renewable energy because you can always trade away what you don't need. The way we generate our electricity is going to become increasingly important with the movement towards PHEVs and EVs.
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