Solar Renewable Energy Certificates (RECs) started trading in India in 2012 and have been growing steadily since the first year trading volume of 6,288. In 2014, there was a slight dip from the previous year’s number (48,717 in 2013 and 43,260 in 2014), but this was compensated in 2015 with a more than tenfold increase and trade volume of 494,470. The year-to-date trading volume has reached 506,148, already surpassing 2015 trade volume numbers.