After increasing in December 2018, the trade of solar renewable energy certificates (RECs) declined in January 2019. However, the cost of solar RECs shot up during the month. In January 2019, a total of 118,526 solar RECs were traded on the Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL) together. This is 58,721 fewer solar RECs than the 177,247 RECs that were traded in December 2018.