Singapore CRRC solar container price

What are RECs & how do they work in Singapore?

In short, RECs are proof that your solar system has produced clean energy — specifically, 1 MWh of electricity fed into the grid. Over the past few years, REC prices in Singapore have surged, nearly tripling between 2022 and 2024. But moving into the second half of 2025, the REC market has begun to shift.

Why are Rec prices rising in Singapore?

Another key factor affecting the REC prices in Singapore is the rising popularity of Virtual Power Purchase Agreements (VPPAs). These long-term contracts allow companies to buy real clean energy and receive RECs bundled together. Why the shift? VPPAs provide more certainty and impact — offering both the electricity and the environmental attribute.

What are i-Rec Singapore solar symbols?

The I-REC Singapore solar symbols have been created in Market Data category IRP (Global I-RECs Assessments for Asia Pacific). They will appear in the following: Publications: REC Daily report.

Will Singapore get a greener grid by 2035?

Singapore has plans to import up to 4 gigawatts of low-carbon electricity from Laos, Thailand, and Malaysia by 2035, as part of the ASEAN Power Grid initiative — a cross-border effort to increase grid stability and clean energy access. While this is a big step toward a greener grid, it also means a significant boost in REC supply.