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Renewable Energy Credit (REC) Purchase Agreement

Draft REC Purchase Agreements in Minutes, Not Hours

18 minutes with CaseMark

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Renewable Energy Credit (REC) Purchase Agreement

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Workflow

Renewable Energy Credit (REC) Purchase Agreement

Overview

Energy lawyers spend hours drafting Renewable Energy Credit purchase agreements, navigating complex regulatory requirements across multiple tracking systems like WREGIS and PJM GATS. Each agreement requires careful attention to certification standards, warranty language, and delivery mechanisms, while ensuring compliance with evolving renewable energy regulations and market standards.

Renewable Energy Credit purchase agreements require navigating complex regulatory frameworks across multiple jurisdictions, tracking system protocols, and certification standards. Manual drafting takes 12+ hours to address product specifications, title transfer mechanisms, compliance requirements, and balanced risk allocation between buyers and sellers.

CaseMark generates complete, legally enforceable REC Purchase Agreements in under 20 minutes. Our AI ensures compliance with state RPS programs, tracking system requirements, and voluntary certification standards while incorporating industry-standard terms for delivery, payment, warranties, and dispute resolution.

How it works

  1. 1. Upload your documents

  2. 2. AI analyzes and extracts key information

  3. 3. Review and customize the generated content

  4. 4. Export in your preferred format (DOCX, PDF)

What you get

  • Sale and Purchase Terms

  • REC Product Description and Quantity

  • Delivery Method and Tracking System

  • Purchase Price and Payment Terms

  • Seller's Warranties and Representations

  • Title Transfer and Ownership

  • Signature Blocks

What it handles

  • Sale and Purchase Terms

  • REC Product Description and Quantity

  • Delivery Method and Tracking System

  • Purchase Price and Payment Terms

  • Seller's Warranties and Representations

  • Title Transfer and Ownership

  • Signature Blocks

Required documents

  • Transaction Parameters

    Details about parties, REC quantity, delivery schedule, pricing, and intended use (compliance vs. voluntary)

    PDF, DOCX, TXT

  • Facility Information

    Renewable energy facility specifications including technology type, location, capacity, and tracking system registration

    PDF, DOCX, XLSX

Supporting documents

  • Certification Documentation

    Green-e certification, RPS eligibility approvals, or other program certifications

    PDF, DOCX

  • Existing Agreement Template

    Previous REC purchase agreements or preferred contract templates for customization

    PDF, DOCX

  • Regulatory Requirements

    Specific state RPS program rules, tracking system operational guidelines, or compliance documentation requirements

    PDF, DOCX

Why teams use it

Generate compliant REC purchase agreements in 8 minutes vs. 3.5 hours manually

Built-in compliance with Green-e certification and major tracking systems (WREGIS, PJM GATS, M-RETS)

Standardized warranty language protecting against double-counting and title defects

Consistent formatting across all renewable energy credit transactions

Reduce drafting errors with AI-powered field validation and regulatory checks

Questions

What's the difference between bundled and unbundled RECs in purchase agreements?

Bundled RECs are sold together with the underlying electricity commodity, while unbundled RECs are sold separately from the electricity. Most REC purchase agreements involve unbundled RECs, where the environmental attributes are separated from the power. The agreement must explicitly state which structure applies and confirm that all environmental attributes transfer with the RECs, preventing the seller from making environmental claims after the sale.

How do REC purchase agreements address tracking system requirements?

The agreement must identify the specific tracking system (WREGIS, PJM-GATS, M-RETS, etc.) and require both parties to maintain active accounts. It should establish transfer timelines, specify account identification numbers, allocate tracking system fees, and create procedures for addressing transfer failures. The agreement typically provides that title transfers upon successful completion of the transfer in the tracking system, when RECs appear in the buyer's account.

What representations should sellers provide about REC eligibility and certification?

Sellers should warrant that they have full title to the RECs free of liens and encumbrances, that RECs haven't been previously sold or retired, and that the generating facility meets all regulatory and certification requirements. This includes representations about tracking system registration, permit compliance, and eligibility for specified RPS programs or Green-e certification. Sellers should also covenant to maintain eligibility throughout the delivery period and notify buyers of any status changes.

How should REC agreements handle changes in renewable energy regulations?

Agreements should specify which party bears the risk of regulatory changes affecting REC value or eligibility. Common approaches include termination rights if changes make performance illegal or impracticable, price renegotiation mechanisms for material regulatory changes, or explicit risk allocation to one party with appropriate pricing. For compliance-focused purchases, the agreement should address consequences if RECs become ineligible for the target RPS program due to regulatory changes or facility decertification.

What delivery and payment structures are typical in REC purchase agreements?

Agreements can involve one-time purchases of fixed quantities or ongoing deliveries over extended periods with monthly, quarterly, or annual delivery schedules. Quantity commitments may be firm (seller must deliver regardless of generation) or output-based (tied to actual facility generation). Payment typically occurs within 30 days following delivery and acceptance, upon receipt of seller's invoice with transfer documentation. The agreement should address consequences of generation shortfalls, excess generation, and payment disputes.

How do REC agreements prevent double-counting of environmental attributes?

The seller must warrant that RECs haven't been previously sold, transferred, or retired, and that they retain no rights to make environmental claims after sale. The agreement should confirm that all environmental attributes transfer with the RECs, including greenhouse gas reductions and renewable energy benefits. Upon title transfer, the buyer obtains exclusive rights to retire the RECs and make environmental claims, while the seller is contractually prohibited from claiming credit for the underlying renewable generation.

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