This two-part webinar series with Dr. Eric O’Shaughnessy explores the evolving evidence on Renewable Energy Certificate (REC) impacts. Part I highlights insights from developers and investors, while Part II examines market data and economic modeling to better understand how voluntary REC demand influences renewable energy deployment.
Recent academic debate has questioned whether voluntary RECs meaningfully drive new renewable energy development. New insights from renewable energy developers, investors, and market participants—the subject of two new companion papers by Dr. Eric O’Shaughnessy—challenge that view. The evidence suggests that RECs play a more important and nuanced role in project finance than is often reflected in academic literature.
In Part I of our 2-part webinar series, Dr. O’Shaughnessy will present these papers, including Developer Insights on Financial Modeling to Describe Renewable Energy Certificate Impacts, that examine the gap between academic claims and real-world developer experience, and why traditional financial models often fail to capture REC-driven investment behavior.
The session will include a moderated discussion with Tom Starrs, Vice President of Government Affairs at EDP Renewables North America, who will share perspectives from decades of renewable energy development experience. Together, the speakers will explore how RECs influence financing decisions, market design, and interpretations of “additionality”—offering practical insights for policymakers, market participants, and corporate buyers.
Speakers
- Dr. Eric O’Shaughnessy, Clean Kilowatts, LLC
- Tom Starrs, EDP Renewables North America
- Todd Jones, Center for Resource Solutions (Moderator)
Key Topics
- How RECs support project finance and risk management
- Common academic claims about RECs and the limitations of financial modeling in capturing real-world REC impacts
- Implications for policymakers, standard-setters, and voluntary market participants