The European market for renewable energy, documented with Guarantees of Origin, increased by 26.5 % in 2014 compared to 2013.

For the first time, the demand surpassed 300 TWh states, according to statistics from the Association of Issuing Bodies (AIB). This is nearly one tenth of all electricity demand in Europe (ca. 3,300 TWh) and one third of all electricity from renewable sources in Europe (ca. 900 TWh).

Hydro still dominates the market with more than 80% of the Guarantees of Origin volumes. Bio and Wind nearly doubled their volumes, and total almost 50 TWh. Geothermal and Solar also increased sharply, but volumes are still low.

Except for 2011, 2014 is the first year with a large deficit of Guarantees of Origin in the market amounting to 44 TWh.

The official statistics from AIB include reported market figures from member states. The United Kingdom uses a different renewable energy certificate system, REGO, and is not included in any of the mentioned market figures.

Actual market size is even bigger

However, the figures partially or totally exclude data from Slovenia, Spain and Sweden. These countries all have working systems for supplying, purchasing and trading of renewable energy certificates. When the missing market figures from Slovenia, Spain and Sweden are added to AIB’s statistics, the adjusted market demand totals approximately 400 TWh, 28% higher than AIB’s market figures.

Germany is the market leader

Germany continues to drive the market. It reached a total demand volume of 81 TWh, up by an impressive 65% from 2013.Just behind Germany, Sweden is a clear number two with a Guarantees of Origin demand of more than 71 TWh.

Holland, Italy, Switzerland, Finland, and Norway all show strong growth, with market demand ranging from 25 TWh to 40 TWh. Norway is still the leading country supplying Guarantees of Origin. Norway provided the market with approximately 130 TWh of Guarantees of Origin from Hydro in 2014. As the rest of the market keeps ramping up, Norway’s share of the total supply continues to decrease.

2014 saw four new countries (Croatia, Czech Republic, Cyprus and Estonia) taking the first steps into the market and will fully take part in the market in 2015.

Corporate sector is main driver

While households, organizations and businesses, have all contributed to the impressive market growth the corporate sector appears to be undeniably the main driver. Global reporting initiatives like CDP (Carbon Disclosure Project) and the Greenhouse Gas Protocol, as well as the EU’s recently approved CSR Directive, emphasize that renewable energy is an important part of a broad corporate sustainability agenda. Guarantees of Origin is the primary tool in Europe to document the purchase of renewable energy.

Tom Lindberg, Managing Director of ECOHZ, which offers renewable energy solutions to electricity providers, businesses and organisations across Europe, North America and Asia, commented:

“These encouraging statistics suggest a breakthrough for Guarantees of Origin, and an increasing momentum for renewable energy consumption overall.”

ECOHZ provides renewable electricity, from a wide range of sources, regions and qualities. The renewable electricity is documented by Guarantees of Origin in Europe, RECs and Green-e in the US, and newly established I-RECs in selected Asian markets.

Companies choosing documented renewable energy can reduce their carbon footprint and improve their sustainability ratings. ECOHZ is among the leading independent suppliers in Europe, and is located in Norway and Switzerland.