Certificates
Guarantees of Origin, RECs & granular certificates
A Guarantee of Origin (GoO in the EU, REC in the US) is an electronic certificate proving that 1 MWh of electricity was generated by a renewable source. It is the building block of any carbon report (CSRD, GHG Protocol Scope 2 market-based).
European market — AIB
The Association of Issuing Bodies (AIB) operates the EECS (European Energy Certificate System). 2025 volume: ~900 TWh certified. Average 2026 price: €3-8/MWh (Nordic hydro) to €12-20/MWh (local solar, biogas).
Granular GOs (G-GOs)
G-GOs add an hourly timestamp and a geographic zone. Essential for 24/7 CFE. Run in the EU by EnergyTag, already used by Google, Microsoft, Iron Mountain.
GoO vs PPA — key difference
- GoO alone = certificate purchased separately from the physical MWh. Cheap but low additionality.
- PPA + bundled GoO = long-term commitment to a new project. Real additionality, locked-in price.