Published in the July/August 2010 issue of Akshay Urja, a magazine produced by the India Ministry of New and Renewable Energy. Today India is the second fastest growing economy in the world, and this strong economic growth would have been virtually impossible without increased energy consumption. Development of renewable energy (RE) is the centerpiece of this strategy, as it addresses the twin objectives of ensuring energy security and reducing emissions. The initiative to develop RE has taken a concrete shape and is well poised to give the necessary fillip to the industry. ICF International’s Yasir Altaf and Pramod Kumar Singh examine the emerging opportunities in renewable energy certificate (REC) mechanism to facilitate interstate exchange of power generated from resources.