Technical Report 

NREL/TP-6A2-44094 

October 2008 

Green Power Marketing in the 

United States: A Status Report 

(11th Edition) 

Lori Bird, Claire Kreycik, and Barry Friedman 
Green Power Marketing in the 

United States: A Status Report 

(11th Edition) 

Lori Bird, Claire Kreycik, and Barry Friedman 

Prepared under Task No. SAO7.8730 

Technical Report 

NREL/TP-6A2-44094 

October 2008 

National Renewable Energy Laboratory

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 Contract No. DE-AC36-08-GO28308
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Acknowledgments 

This work was funded by the U.S. Department of Energy’s (DOE) Office of Energy Efficiency 

and Renewable Energy (EERE). The authors wish to thank Linda Silverman, John Atcheson, and 

EERE's Office of Planning, Budget and Analysis and the Weatherization and Intergovernmental 

Program (WIP) for their support of this work. The authors also wish to thank Alex Pennock and 

Andreas Karelas of the Center for Resource Solutions, Matt Clouse of the U.S. Environmental 

Protection Agency Green Power Partnership program, Adam Capage of 3Degrees, Inc., and 

Karlynn Cory of NREL for their thoughtful review of the document, as well as Jennifer Josey of 

NREL for her editorial support. Finally, the authors thank the many green power marketers and 

utility contacts that provided the information summarized in this report. Additional information 

on green power market trends and activities can be found on the U.S. DOE’s Green Power 

Network Web site (http://www.eere.energy.gov/greenpower/). 

 iii
List of Acronyms 

aMW Average megawatt 

DOE Department of Energy 

EEPS Energy efficiency portfolio standards 

EIA Energy Information Administration 

EPA Environmental Protection Agency 

ESC Energy savings certificate 

FCA Fuel-cost adjustment 

kWh Kilowatt hour 

M&V Measurement and verification 

MW Megawatt 

MWh Megawatt hour 

NREL National Renewable Energy Laboratory 

NYSERDA New York State Energy Research and Development Authority 

OG&E Oklahoma Gas & Electric 

PG&E Pacific Gas & Electric 

REC Renewable energy certificate 

RGGI Regional Greenhouse Gas Initiative 

RPS Renewable portfolio standard 

TRC Tradable renewable certificates 

 iv
Table of Contents 

List of Figures ................................................................................................................................ vi 

List of Tables ................................................................................................................................. vi 

Introduction ..................................................................................................................................... 1 

Green Power Market Summary and Trends .................................................................................... 3 

Green Power Sales ...................................................................................................................... 3 

Customer Participation................................................................................................................ 5 

Comparison of Voluntary and Compliance Markets .................................................................. 6 

Utility Green Pricing Programs ...................................................................................................... 8 

Green Pricing Products and Premiums ....................................................................................... 9 

Green Pricing Customer Participation ...................................................................................... 11 

Green Pricing Renewable Energy Sales ................................................................................... 12 

Competitive Green Power and REC Markets ............................................................................... 15 

REC and Competitive Market Products and Pricing ................................................................ 16 

REC and Competitive Market Customer Participation ............................................................. 18 

REC and Competitive Market Green Power Sales ................................................................... 19 

Voluntary Green Power Market Trends and Issues ...................................................................... 21 

Fuel Price Stability Benefits in Green Power Programs .......................................................... 21 

Community Challenges ............................................................................................................. 23 

Emerging Markets for Energy Savings Certificates ................................................................. 23 

Voluntary ESC Market Development .................................................................................. 24 

NYSERDA Pilot ESC Program ........................................................................................... 25 

Other Voluntary Activity: IBM ........................................................................................... 26 

Conclusions and Observations ...................................................................................................... 27 

References ..................................................................................................................................... 28 

Appendix A. Estimates of Renewable Energy Capacity Serving Green Power Markets, 2000-

2004............................................................................................................................................... 30 

Appendix B. Top 25 Purchasers in the U.S. EPA Green Power Partnership, July 2008 .............. 31 

Appendix C. Estimated U.S. Green Pricing Customers by State and Customer Class, 2005 and 

2006............................................................................................................................................... 32 

Appendix D. Utilities Offering Green Pricing Programs in Regulated Markets, 2007 ................ 34 

Appendix E. Links to Utility Green Pricing Programs and REC and Competitive Market Green 

Power Offerings ........................................................................................................................... 36 

Appendix F. Top Ten Utility Green Pricing Programs ................................................................ 37 

 v
 vi

List of Figures 

Figure 1. States with green power programs ................................................................................ 2 

Figure 2. Estimated green power sales by renewable energy source, 2007 ................................. 3 

Figure 3. Comparison of voluntary and compliance markets for renewable energy ................... 7 

Figure 4. Utility green pricing activities ...................................................................................... 8 

Figure 5. Trends in utility green pricing premiums, 2000-2007 ................................................ 10 

Figure 6. Annual sales of renewable energy through utility green pricing programs (regulated 

electricity markets only) ............................................................................................. 13 

Figure 7. Green power marketing activity in competitive electricity markets ........................... 16 

List of Tables 

Table 1. Estimated Green Power Sales by Market Sector, 2004-2007 ....................................... 4 

Table 2. Estimated Annual Green Power Sales by Customer Segment, 2005-2007 .................. 4 

Table 3. Estimated Annual Green Power Sales by Customer Segment and Market Sector, 2007 .. 5 

Table 4. Estimated Cumulative Renewable Energy Capacity Supplying Green Power Markets, 

2006-2007 ...................................................................................................................... 5 

Table 5. Estimated Cumulative Green Power Customers by Market Segment, 2001-2007 ....... 6 

Table 6. Residential Price Premiums of Utility Green Power Products (¢/kWh), 2000-2007 . 10 

Table 7. Estimated Cumulative Number of Customers Participating in Utility Green Pricing 

Programs (Regulated Electricity Markets Only) ......................................................... 11 

Table 8. Customer Participation Rates in Utility Green Pricing Programs (2001-2007). ........ 12 

Table 9. Annual Sales of Renewable Energy through Utility Green Pricing Programs 

(Regulated Electricity Markets Only), Millions of kWh ............................................ 12 

Table 10. Average Purchases of Renewable Energy per Customer (kWh per Year) ................. 13 

Table 11. Renewable Energy Generation and Capacity Supplying Green Pricing Programs (2007) . 14 

Table 12. Renewable Energy Sales as a Percent of Utility Electricity Sales (2006-2007) ......... 14

Table 13. Total Sales of Green-e Energy Certified Renewable Energy, 2006 and 2007, 

Million kWh ................................................................................................................ 18

Table 14. Estimated Cumulative Number of Customers Purchasing RECs or Green Power 

from Competitive Marketers, 2003-2007 ................................................................... 18

Table 15. Retail Sales of Renewable Energy in Competitive Markets and RECs (Million kWh)... 19

Table 16. Renewable Energy Sources Supplying Competitive and REC Markets, 2007 ........... 20 

Table A-1. Estimated Cummulative New Renewable Energy Capacity Supplying Green Power 

Markets, 2000-2004 (Megawatts) ............................................................................... 30 

Table B-1. Top 25 Purchasers in the U.S. EPA Green Power Partnership, July 2008 ................. 31 

Table C-1. Estimated U.S. Green Pricing Customers by State and Customer Class, 2005 and 2006 .. 32 

Table C-2. Estimated U.S. Green Pricing Customers by Customer Class, 2002-2006 ................ 33 

Table D-1. Utilities Offering Green Pricing Programs in Regulated Markets, 2007 .................... 34 

Table D-2. Utility/Marketer Green Power Programs in Restructured Electricity Markets, 2007 . 35 

Table F-1. Green Pricing Program Renewable Energy Sales (as of December 2007) ................. 37 

Table F-2. Total Number of Customer Participants (as of December 2007) ............................... 38 

Table F-3. Customer Participation Rate (as of December 2007). ................................................ 39 

Table F-4. Green Power Sales as Percentage of Total Retail Electricity Sales (as of December 2007). . 40 

Table F-5. Price Premium Charged for New, Customer-Driven Renewable Power (as of 

December 2007). .......................................................................................................... 41 
Introduction

Voluntary consumer decisions to purchase electricity supplied from renewable energy sources 

represent a powerful market support mechanism for renewable energy development. Beginning 

in the early 1990s, a small number of U.S. utilities began offering “green power” options to their 

customers.1 Since then, these products have become more prevalent, both from traditional 

utilities and from marketers operating in states that have introduced competition into their retail 

electricity markets. Today, more than half of all U.S. electricity customers have an option to 

purchase some type of green power product from a retail electricity provider. 

Currently, more than 850 utilities, or about 25% of utilities nationally, offer green power 

programs to customers. These programs allow customers to purchase some portion of their 

power supply as renewable energy—almost always at a higher price—or to contribute funds for 

the utility to invest in renewable energy development. The term “green pricing” is typically used 

to refer to these utility programs offered in regulated or noncompetitive electricity markets. 

In states with competitive (or restructured) retail electricity markets, electricity customers can 

often purchase electricity generated from renewable sources by switching to an alternative 

electricity supplier that offers green power. In some of these states, default utility electricity 

suppliers offer green power options to their customers in conjunction with competitive green 

power marketers.2

 To date, nearly a dozen states that have opened their markets to retail 

competition have experienced some green power marketing activity. Through the combination of 

utility green pricing and competitive retail markets, green power is available to most electricity 

customers living in 47 of the 50 U.S. states (Figure 1). 

Finally, regardless of whether they have access to a green power product from their retail power 

provider, any consumer can purchase green power through renewable energy certificates (RECs), 

which represent the “attributes” of electricity generated from renewable energy-based projects. 

Consumers in competitive markets can also support renewable energy development through REC 

purchases without having to switch to an alternative electricity supplier. Today, several dozen 

companies actively market RECs to residential or business customers throughout the United 

States. 

 

This report documents green power marketing activities and trends in the United States. First, we 

present aggregate green power sales data for all voluntary purchase markets across the United 

States. The next two sections provide summary data on 1) utility green pricing programs offered 

in regulated electricity markets and 2) green power marketing activity in competitive electricity 

markets, as well as green power sold to voluntary purchasers in the form of RECs. These are 

followed by a discussion of key market trends and issues. The final section offers conclusions 

 

1

 The term "green power" generally refers to electricity supplied in whole or in part from renewable energy sources, 

such as wind and solar power, geothermal, hydropower, and various forms of biomass. 

2

 Under these programs, consumers can purchase renewable energy from independent renewable energy marketing 

companies without switching their electricity service from the default or standard offer service provider. 

 1
and observations. The data presented in this report are based on figures provided to NREL by 

utilities and independent renewable energy marketers.3 

Green Power Products Available

Restructured Electricity Market

No Green Power Activity

Indicates Number of Utilities/Companies Offering 

Green Power Products

States with Green Power Programs

Source: National Renewable Energy Laboratory (September 2008)

#

2

19

22

10

1

12

5

5

14

14

27

26

6

4

19

30

4

57

137

6

12

112

14

11 14

23

71

12 29 39

9

19

47

4

4

2

4

2

2

18

5

3

1

1

8

DC

3

17

1

Figure 1. States with green power programs 

 

3 Green power market data for previous years are available in Bird et al. (2007), Bird and Swezey (2006), Bird and 

Swezey (2005a), Bird and Swezey (2004), Bird and Swezey (2003), Swezey and Bird (2000), and Swezey and Bird 

(1999). 

 2
Green Power Market Summary and Trends 

Green Power Sales

Overall, retail sales of renewable energy in voluntary purchase markets totaled about 18 billion 

kilowatt-hours (kWh) in 2007, or about 0.5% of total U.S. electricity sales.4 This includes sales 

of renewable energy derived from both “new” and “existing” renewable energy sources, with 

most sales supplied from new sources.5

 In 2007, about 80% of renewable energy sold into 

voluntary purchase markets was supplied from new renewable energy sources.6 

Wind energy represented 55% of total green power sales, followed by biomass energy sources, 

including landfill gas (28%), hydropower (11%), geothermal (3%), solar (<1%), and unknown 

sources (2.5%) (Figure 2). Based on the sales data presented in this report, we estimate the 

market value of green power sales in 2007 to be between $85 million and $125 million. 

Landfill Gas &

Biomass, 28.1%

Hydro, 11.3%

Wind, 55.1%

Unreported, 2.6%

Geothermal, 2.8%

Solar, 0.2%

Figure 2. Estimated green power sales by renewable energy source, 2007 

Green power sales (in kWh) increased by more than 50% in 2007, with annual growth rates 

averaging 43% since 2004 (Table 1). REC sales have been driving much of the growth, 

 

4 U.S. electricity sales totaled 3,670 billion kWh in 2006 (2007 data are not yet available), according to the U.S. 

Energy Information Administration (EIA). See http://www.eia.doe.gov/cneaf/electricity/epa/epat7p2.html. The 

remaining renewable energy generation is rate-based by utilities or used to meet renewable portfolio standards. 

5 With green power, a distinction is often made based on the vintage of the renewable energy generator. The green 

power industry generally follows the Green-e Energy national standard, which defines a “new” renewable 

generation facility as one placed in operation or repowered on or after January 1, 1997. Therefore, an “existing” 

generation facility is one placed in service before January 1, 1997. For more information on the Green-e Energy

national standard, see http://www.green-e.org/getcert_re_stan.shtml. 6

 Estimates presented in this report are primarily based on data provided by utilities and marketers and supplemented 

with other available data. Because we are unable to obtain data from all market participants, the estimates presented 

here likely underestimate the size of the entire market. 

 3
increasing 55% in 2007. Overall, REC markets represent more than half of industry sales.7

 Sales 

in competitive markets grew substantially in 2007, although some of this difference may be 

attributed to data gaps that resulted in an underestimate of 2006 competitive market sales. Green 

pricing programs are growing more slowly than the other market segments. 

Sales to nonresidential customers continued to outpace those to residential consumers, with 

three-quarters of all sales by volume to the nonresidential sector in 2007 (Table 2). Nearly all 

REC sales were to nonresidential customers, while residential customers played a larger role in 

green pricing programs and competitive markets, where they accounted for more than 50% of 

renewable energy sales (Table 3). 

Table 1. Estimated Annual Green Power Sales by Market Sector, 2004-2007* 

(Millions of kWh)

Market Sector 2004 2005 2006 2007 % Change 

2004/2005 

% Change 

2005/2006 

% Change 

2006/2007 

Utility Green 

Pricing 1,800 2,500 3,400 4,300 33% 39% 25% 

Competitive 

Markets 2,700 2,200 1,700** 3,200 -19% -20%** 88%** 

REC Markets*** 1,700 3,900 6,800 10,600 126% 75% 55% 

Retail Total 6,200 8,500 11,900 18,100 37% 41% 53% 

*Includes sales of new and existing renewable energy. Totals and growth rates may not calculate due to rounding. 

**2006 sales figures may be underestimated because of data gaps. 

***Includes only RECs sold to end-use customers separate from electricity. 

Table 2. Estimated Annual Green Power Sales by Customer Segment, 2005-2007* 

(Millions of kWh)

Customer 

Segment 2005 2006 2007 %Change 

2005/2006 

%Change 

2006/2007 

Residential 3,000 3,200 4,500 8% 39% 

Nonresidential 5,500 8,700 13,600 58% 56% 

Total 8,500 11,900 18,100 41% 53% 

% Nonresidential 65% 73% 75% -- -- 

 *Totals and growth rates may not compute due to rounding. 

At the end of 2007, kWh-sales of renewable energy in voluntary markets represented a 

generating capacity equivalent of about 5,100 MW, with about 4,300 MW of that from “new” 

renewable energy sources (Table 4). Since 2000, the amount of renewable energy capacity 

serving green power markets has increased more than 30-fold (see Appendix A). 

 

7

 The REC sales figures reflect sales to end-use customers separate from electricity. RECs bundled with electricity 

and sold to end-use customers through utility green pricing programs or in competitive electricity markets are 

counted in these other categories. 

 4
Table 3. Estimated Annual Green Power Sales by Customer Segment and Market Sector, 2007 

(Millions of kWh)

Customer Segment Green 

Pricing 

Competitive 

Markets 

REC 

Markets Total 

Residential 2,600 1,800 60 4,500 

Nonresidential 1,600 1,400 10,500 13,600 

Total 4,300 3,200 10,500 18,100 

% Residential 60% 56% 1% 25% 

 Note: Totals may not add due to rounding. 

Table 4. Estimated Cumulative Renewable Energy Capacity Supplying Green Power Markets, 2006-

2007 (Megawatts) 

Market 

2006

Total 

Renewables 

Capacity 

2006 “New” 

Renewables 

Capacity 

2007

Total 

Renewables 

Capacity 

2007 “New” 

Renewables 

Capacity 

Utility Green 

Pricing 1,100 1,000 1,400 1,300 

Competitive 

Markets/RECs 2,400 2,100 3,700 3,000 

Total 3,500 3,100 5,100 4,300 

Note: “New” renewables capacity is a subset of total renewables capacity supplying green power markets. 

Customer Participation 

In 2007, an estimated 860,000 electricity customers nationally purchased green power products 

through regulated utility companies, from green power marketers in a competitive market setting, 

or in the form of RECs (Table 5).8

 In aggregate, utility green pricing programs have shown 

continued growth in customers over time as the number of utility programs has increased and as 

existing programs have grown; however, growth in 2007 was slower than in previous years. On 

the other hand, competitive markets have been less consistent. While green power sales have 

grown in Texas and some northeast states, other markets have failed—notably in California and 

most recently, Pennsylvania. While REC customers represent a small fraction of the total 

customer base, REC sales represent more than half of all green power sales and have grown 

dramatically in recent years as a result of a number of very large purchases (see Appendix B for 

a list of top green power purchasers). 

 

8

 It is important to note that there is greater uncertainty in our customer estimates for competitive and REC markets 

because of data limitations. For more detailed estimates by state for 2005 and 2006, see data from U.S. EIA 2007 in 

Appendix C. Generally, our estimates are consistent with the EIA estimates when adjusted for customers in Ohio 

who participated in community aggregations in 2005 and earlier. We excluded these customers from our estimates 

because they purchase products with very low renewable energy content (1% to 2%). 

 5
Table 5. Estimated Cumulative Green Power Customers by Market Segment, 2001-2007

2001 2002 2003 2004 2005 2006 2007 

Utility Green 

Pricing 170,000 230,000 270,000 330,000 390,000 490,000 550,000 

Competitive 

Markets >110,000 ~150,000 >170,000 >140,000 >180,000 ~210,000 300,000 

REC Markets* -- < 10,000 < 10,000 < 10,000 < 10,000 ~10,000 >10,000 

Retail Total >280,000 ~390,000 ~450,000 ~480,000 ~580,000 ~710,000 ~860,000 

% Change ~-3% ~39% ~15% ~7% ~21% ~22% ~21% 

Note: In some cases, estimates have been revised from those reported in previous NREL reports as updated data 

have become available. Totals may not add due to rounding. 

*Includes only end-use customers purchasing RECs separate from electricity. 

Average participation rates among utility green pricing programs increased slightly to 2.0% in 

2007, with a median value of 1.3%; top performing programs have achieved rates ranging from 

5% to 20%. Competitive markets have experienced green power customer penetration rates 

ranging from 1% to 2% in states where the market has been conducive to retail competition. 

However, participation in competitive markets has been subject to market conditions and rules 

and has been more volatile than in traditionally regulated markets. 

Comparison of Voluntary and Compliance Markets

In 27 states and the District of Columbia, renewable portfolio standard (RPS) policies require 

that utilities or load-serving entities include a certain percentage of renewable energy within their 

power generation mix; the percentages required and eligibility requirements vary among the 

states. Eligible renewable energy may either be purchased by load serving entities to meet their 

RPS requirements, or may be purchased by consumers or businesses wishing to buy renewable 

energy on a voluntary basis, but green power certification programs and state RPS policy rules 

generally ensure that there is no double counting between the two markets (i.e., that the same 

kWh is not used for more than one purpose). 

In 2007, state RPS policies collectively called for utilities to procure about 16 billion kWh of 

new renewable energy generation (Barbose 2008), compared to about 18 billion kWh sold into 

the voluntary green power market.9

 Figure 3 shows that voluntary market demand for 

renewables has exceeded compliance market demand since 2004. By 2010, RPS policies 

collectively call for utilities to obtain more than 60 billion kWh of new renewables, rising to 91 

billion kWh in 2012; it is unclear whether the voluntary market will continue to outpace this 

compliance demand. 

 

9 While RPS policies generally allow pre-existing renewable energy generation sources (i.e., those installed prior to 

the adoption of the RPS) to meet their targets, the estimates presented here reflect only the amount of new renewable 

energy generation that these policies are expected to stimulate. These figures are compared to the voluntary market 

estimates, because voluntary markets primarily support generation from new renewable energy projects (i.e., those 

installed after voluntary green power markets were established). Estimates of compliance market demand assume 

that RPS targets are fully met. 

 6
0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

20,000

2003 2004 2005 2006 2007

millions of kWh annually

Voluntary Markets

Compliance Markets

(New Renewables)

Figure 3. Comparison of voluntary and compliance markets for renewable energy 

Note: Compliance market data sourced from Lawrence Berkeley National Laboratory (LBNL)(Barbose 

2008). 

 7
Utility Green Pricing Programs

This section provides information specific to utility green pricing programs, a subset of the entire 

market. The number of utilities offering green pricing has grown steadily in recent years—today, 

more than 850 investor-owned, public, and cooperative utilities in most states offer green pricing 

programs (Figure 4). Appendix D provides a list of utilities offering green pricing while 

Appendix E provides Web links to all green power product offerings.10 Because a number of 

small municipal or cooperative utilities offer programs developed by their power suppliers, the 

number of distinct green pricing programs is about 150. Initially, some portion of the growth in 

utility green power offerings was attributable to the threat of retail market competition, while 

more recent growth has been spurred by state laws requiring utilities to offer green pricing and 

utility interest in offering clean energy options.11 

States with Green Pricing Programs

Indicates Number of Utilities/Companies Offering 

Green Power Products

Utility Green Pricing Activities

Source: National Renewable Energy Laboratory (September 2008)

#

2

19

22

10

1

12

5

5

14

6

27

26

6

4

19

30

4

57

137

6

12

112

14

11 14

23

71

12 29 39

9

19

47

1

3

2

1

3

17

1

Figure 4. Utility green pricing activities 

 

10 For an up-to-date list of utilities with green pricing programs, see the U.S. Department of Energy’s Green Power 

Network Web site at http://apps3.eere.energy.gov/greenpower/markets/pricing.shtml?page=1. 11 These states include Colorado, Iowa, Minnesota, Montana, New Mexico, Oregon, Vermont, and Washington. 

 8
Green Pricing Products and Premiums

Typically, green pricing programs are structured so that customers can either purchase green 

power for a certain percentage of their electricity use (often called “percent-of-use products”) or 

in discrete amounts or blocks at a fixed price (“block products”), such as a 100-kWh block. Most 

utilities offer block products but may also allow customers to purchase green power for their 

entire monthly electricity use. Utilities that offer percent-of-use products generally allow 

residential customers to elect to purchase 25%, 50%, or 100% of their electricity use as 

renewable energy, while a few offer fractions as small as 10%. Under these types of programs, 

larger purchasers, such as businesses, can often purchase green power for a smaller fraction of 

their electricity use. 

In 2007, the price of green power for residential customers in utility programs ranged from 

0.09¢/kWh to 7.5¢/kWh above standard electricity rates, with an average premium of 1.9¢/kWh 

and a median of 1.5¢/kWh. These premiums have been adjusted to account for any fuel cost 

exemptions granted to green power program participants.12 In 2007, the utility programs with the 

lowest premiums for energy derived from new renewable sources had premiums ranging from 

0.09¢/kWh to 0.8¢/kWh. On average, consumers spend about $6 per month above standard 

electricity rates for green power through utility programs. 

Since 2000, the average price premium has dropped at an average annual rate of 9% (Table 6). 

Some of this reduction can be attributed to lower market costs for renewable energy supplies. 

Increases in the price of natural gas have narrowed the price gap between renewables and gasfired generation alternatives, leading to lower initial premiums for many new programs; 

however, they have also reduced the effective premiums in programs that exempt participating 

customers from fuel-related price increases. In addition, a number of utilities have lowered their 

premiums over time to reflect changing market conditions. Despite the downward trend in 

premiums, installation costs are increasing for new renewable energy facilities, largely as a result 

of rising commodity prices, which may affect premiums in coming years. 

 

12 For example, some utilities exempt green pricing customers from monthly or periodic fuel charges imposed to pay 

higher than expected fossil-fuel costs. For a more detailed discussion of this topic, see Bird et al. (2008). 

 9
Table 6. Residential Price Premiums of Utility Green Power Products (¢/kWh), 2000-2007 

2000 2001 2002 2003 2004 2005 2006 2007* 

Average Premium 3.48 2.93 2.82 2.62 2.45 2.36 2.12 1.85 

Median Premium 2.50 2.50 2.50 2.00 2.00 2.00 1.78 1.50 

Range of Premiums (0.5)-

20.0 

0.9-

17.6 

0.7-

17.6 

0.6-

17.6 

0.33 - 

17.6 

(0.7)-

17.6 

(0.1)-

17.6 

0.09-

7.50 

10 Programs with 

Lowest Premiums** 

(0.5)-

2.5 1.0-1.5 0.7-1.5 0.6-1.3 0.33-

1.0 

(0.7)- 

0.9 

(0.1)-

1.0 0.09-0.8 

Number of Programs 

Represented 50 60 80 91 101 104 97 71 

*In 2007, calculations of premiums were based on programs that responded to the questionnaire. In previous years, a larger sample 

of programs was used to calculate the premium, as data were available. 

**Represents the 10 utility programs with the lowest price premiums for new customer-driven renewable energy. This includes only 

programs that have installed—or announced firm plans to install or purchase power from—new renewable energy sources. In 2001 

the discrepancy between the low end of the range for all programs and the Top 10 programs results from the program with the 

lowest premium (0.9¢/kWh) not being eligible for the Top 10 because it was either selling some existing renewables or had not 

installed any new renewable capacity for its program. 

0

0.5

1

1.5

2

2.5

3

3.5

4

2000 2001 2002 2003 2004 2005 2006 2007

Residential Premium, cents/kWh

Average

Median

Figure 5. Trends in utility green pricing premiums, 2000-2007 

 10
Green Pricing Customer Participation

At the end of 2007, more than 540,000 customers were participating in utility green pricing 

programs in regulated electricity markets (Table 7).13 As in the past, a relatively small number of 

green power programs account for the majority of customers, with just 10 programs accounting 

for 60% of all participants (Appendix F).

14 From 2001 to 2007, the number of customer 

participants increased more than threefold, but growth in the number of new customers slowed in 

2007 compared to rates exhibited in previous years. 

Table 7. Estimated Cumulative Number of Customers Participating in Utility Green Pricing 

Programs (Regulated Electricity Markets Only) 

Customer Segment 2001 2002 2003 2004 2005 2006 2007 

Residential 166,300 224,500 258,700 323,700 383,400 470,800 526,700

Nonresidential 2,500 3,900 6,500 8,100 11,300 15,500 20,200

Total 168,800 228,400 265,200 331,800 394,700 486,300 546,900

% Total Annual Growth 27% 35% 16% 25% 19% 23% 12% 

% Residential Growth 27% 35% 15% 25% 18% 23% 12% 

% Nonresidential Growth 47% 56% 67% 25% 40% 37% 30% 

Table 7 delineates residential and nonresidential customer participation in utility green pricing 

programs over time. The vast majority of participants are residential customers, with 

nonresidential customers accounting for only 4% of all participants. However, nonresidential 

participation is growing at a faster rate than residential participation, which is having a 

significant positive impact on overall sales volume because of the larger size of nonresidential 

purchases. 

At the end of 2007, the average participation rate in utility green pricing programs among 

eligible utility customers was 2.0%, with a median of 1.3% (Table 8). These industry-wide rates 

have shown very little change in recent years. The overall lack of improvement in participation 

rates results from a number of factors, including a lack of customer awareness of the green 

power program,15 customer unwillingness to pay a premium for green power, customer 

uncertainty regarding the actual benefits of the program, and varied levels of interest among 

utilities in marketing and promoting the program (Holt and Holt 2004, Swezey and Bird 2001). 

However, the top performing programs continue to show improvement, with participation rates 

 

13 NREL obtained consumer response data for about 60% of utility green pricing programs in 2007, including all of 

the major programs. The remaining programs, which are smaller in size, do not have a large impact on overall 

participant numbers. 

14 NREL issues five different Top 10 lists based on total sales of renewable energy to program participants, total 

number of customer participants, customer participation rates, green power sales as a fraction of total utility sales, 

and the premium charged to support new renewables development. These lists can be found at 

http://apps3.eere.energy.gov/greenpower/markets/pricing.shtml?page=3. 15 A number of utilities have reported that only 20% to 30% of their customers are aware that a green power option 

is offered. 

 11
ranging from about 5% to 20% in 2007, compared to a range of 3% to 6% in 2002. The 20% 

participation threshold was exceeded for the first time in 2007. 

Table 8. Customer Participation Rates in Utility Green Pricing Programs, 2001-2007 

Participation 

Rate 

2001 2002 2003 2004 2005 2006 2007 

Average 1.3% 1.2% 1.2% 1.3% 1.5% 1.8% 2.0% 

Median 0.7% 0.8% 0.9% 1.0% 1.0% 1.0% 1.3% 

Top 10 

Programs 

3.0% -

7.0% 

3.0% -

5.8% 

3.9% -

11.1% 

3.8% -

14.5% 

4.6% -

13.6% 

5.1% - 

16.9% 

5.2%-

20.4% 

In 2007, utilities reported that an average and a median of 8% of customers dropped out of green 

pricing programs. While these figures are higher than drop-out rates reported in 2006, retention 

is still relatively high despite the fact that electricity and energy prices have remained high in 

most regions of the country. This finding suggests that customers tend to be “sticky” and 

maintain participation in green power programs, despite electricity and other energy cost 

increases.

Green Pricing Renewable Energy Sales 

Utility green pricing sales continue to exhibit reasonably strong growth, but slower than in 

previous years. Collectively, utilities in regulated electricity markets sold about 4.3 billion kWh 

of green power to customers in 2007 (Table 9). Green pricing program sales to all customer 

classes grew by 26% in 2007, compared to rates ranging from 33% to 56% in recent years (Table 

9; Figure 6). Sales growth is attributed to both continued expansion of the green power customer 

base, particularly increases in the number of nonresidential customers, and larger purchases 

(Table 10). About 95% of the renewable energy sold to consumers through green pricing 

programs was supplied from projects meeting the generally accepted industry definition of 

“new.” 

Table 9. Annual Sales of Renewable Energy through Utility Green Pricing Programs (Regulated 

Electricity Markets Only), Millions of kWh 

2002 2003 2004 2005 2006 2007 

Sales to Residential customers 661 874 1,295 1,606 2,103 2,554

Sales to Nonresidential customers 234 410 544 842 1,302 1,633

Total Sales to All customers 895 1,284 1,839 2,448 3,404 4,287

% Annual Growth in Total Sales 56% 43% 43% 33% 39% 26%

% Nonresidential of Total Sales 26% 32% 30% 34% 38% 38%

 Note: Totals may not add due to rounding. 

 12
0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

2001 2002 2003 2004 2005 2006 2007

millions of kWh

Total sales

Residential

Nonresidential

Figure 6. Annual sales of renewable energy through utility green pricing programs (regulated 

electricity markets only) 

Table 10. Average Purchases of Renewable Energy per Customer (kWh per Year) 

2002 2003 2004 2005 2006 2007 

Residential Customers 2,900 3,400 4,000 4,200 4,400 4,900

Nonresidential Customers 60,000 63,100 67,200 74,500 85,700 77,400

All Customers 3,900 4,800 5,500 6,200 6,700 7,400

Renewable energy sold through green pricing programs in 2007 represents an equivalent 

renewable energy capacity of nearly 1,400 MW, with more than 1,300 MW of this represented 

by “new” renewable energy resources (Table 11). Wind, solar, landfill gas, and other forms of 

biomass are the renewable resources most commonly included in utility programs, although 

solar, in particular, may be used to supply a small fraction of kWh-sales. Wind energy represents 

the largest portion of the total capacity. In 2006, sales of renewable energy through green pricing 

programs represented more than 1,100 MW of renewable energy capacity, with about 1,000 MW 

of that from new renewable energy sources. In 2005, green pricing sales represented about 800 

MW of renewable energy capacity, with about 740 MW of that from “new” renewable energy 

sources. Appendix A presents estimates of new capacity serving green pricing programs in 

earlier years. 

 13
Table 11. Renewable Energy Generation and Capacity Supplying Green Pricing Programs (2007) 

Landfill 

Gas 

Other 

Biomass 

Geothermal Hydro Solar Wind Unknown Total 

Sales MWh 301,000 363,000 175,000 66,000 12,200 3,238,000 133,000 4,287,000

% of Total Sales 7% 8% 4% 2% 0.3% 76% 3% 100%

Total MW 38 52 22 15 7 1232 30 1,396

MW New RE 35 35 22 2 7 1229 -- 1,329

In 2007, green power sales represented a small but increasing proportion of a utility company’s 

overall energy sales. Table 12 shows that, on average, renewable energy sold through green 

pricing programs represented less than 1% of total utility electricity sales (on a kWh basis) in 

2007, while a few utilities reported fractions as high as about 5% to 6% of total retail electricity 

sales. On a residential basis, green power sales represented a higher fraction of total utility 

electricity sales, with one utility reporting a fraction as high as 17%. 

Table 12. Renewable Energy Sales as a Percent of Utility Electricity Sales (2006-2007) 

2006 2007 

Customer 

Class Avg. Med. Range Avg. Med. Range 

Residential 1.0% 0.4% 0% - 13.4% 1.4% 0.6% 0% - 17.4%

Nonresidential 0.4% 0.1% 0% - 6.6% 0.5% 0.2% 0% - 6.3%

All customers 0.5% 0.3% 0% - 5.2% 0.8% 0.3% 0% - 5.7%

 14
Competitive Green Power and REC Markets 

This section provides greater detail on green power sold in competitive (or restructured) 

electricity markets as well as in the form of RECs—subsets of the entire green power market. 

About one-third of U.S. states have restructured their electricity markets to introduce retail 

service competition. Currently, electricity consumers in the following states can purchase 

competitively marketed green power: Connecticut, Maine, Maryland, Massachusetts, New 

Jersey, New York, Pennsylvania, Rhode Island, Texas, and the District of Columbia (Figure 

7).16,17 Competitively marketed green power offerings are also available to nonresidential 

consumers in a few other states. 

 

Initially, buying green power in competitive retail markets entailed switching electricity service 

from the incumbent utility to a green power supplier. However, with few exceptions, green 

power marketers have found it difficult to compete or to persuade customers to switch suppliers. 

As a remedy, a number of states now require default suppliers (which are often the incumbent 

distribution utilities) to offer green power options to their customers. These load serving entities 

typically provide customers with underlying electricity generation, combined with a choice of 

several green products offered by competing green power marketers. In addition, several utility 

suppliers have voluntarily teamed with a single green power marketer to offer a green power 

option to their customers. Utility/marketer partnership programs are now offered in Connecticut, 

Massachusetts, New Jersey, New York, Pennsylvania, and Rhode Island. 

RECs provide another alternative to switching electricity suppliers. Also known as “green tags” 

or tradable renewable certificates (TRCs), RECs represent the “green” attributes of renewable 

energy generation and can be sold separately from commodity electricity. REC-based products 

may be supplied from a variety of renewable energy sources throughout the country and sold to 

customers nationally, or they may be supplied from renewable energy sources in a particular 

region or locality and marketed as such to local customers. More than 25 companies offer 

certificate-based green power products to retail customers via the Internet, and a number of other 

companies market RECs solely to commercial and industrial customers.18 

RECs are also sold in the wholesale market and are frequently used by utilities and marketers 

who bundle RECs with commodity electricity to sell green power to retail customers. In fact, 

RECs are used to supply most of the programs where default suppliers have teamed with green 

 

16 For an up-to-date list of products offered by competitive green power marketers, see the U.S. Department of 

Energy’s Green Power Network Web site at: 

http://apps3.eere.energy.gov/greenpower/markets/marketing.shtml?page=1. 17 We do not include Oregon and Virginia in this list. In Oregon, only large commercial and industrial customers are 

able to switch to competitive green power providers; residential and small commercial customers have access to 

green power options offered by the incumbent utilities, which we categorize as green pricing. In Virginia, at least 

one retail electricity provider provided green power options in 2007 and earlier, but does not do so currently. 

18 For an up-to-date list of companies offering REC-based green power products, see the U.S. Department of 

Energy’s Green Power Network Web site at: 

http://apps3.eere.energy.gov/greenpower/markets/certificates.shtml?page=1. For a list of REC suppliers serving 

commercial or wholesale customers, see: 

http://apps3.eere.energy.gov/greenpower/markets/certificates.shtml?page=4. 

 15
power marketers. Therefore, it can be difficult to distinguish REC products from other green 

power offerings. This is particularly true when REC products are supplied from renewable 

sources located in the same region where they are marketed. 

Restructuring Active

Retail Green Power Products Available

Restructuring Not Active

Indicates Number of Utilities/Companies Offering 

Green Power Products.

Green pricing products are available to residential customers.

Green power products are available to customers who switched 

electricity providers prior to termination of direct access.

Green Power Marketing Activity in

Competitive Electricity Markets*

Source: National Renewable Energy Laboratory (September 2008)

#

8

2

4

4

4

5

2

18

5

* Represents bundled renewable electricity products available

to residential and small commercial customers.

3 DC

1

Figure 7. Green power marketing activity in competitive electricity markets 

REC and Competitive Market Products and Pricing 

Green power products offered in competitive markets tend to differ from those offered by 

utilities in regulated markets as they may contain a mix of electricity generated from new and 

preexisting renewable energy projects, whereas utility green pricing programs generally utilize 

only “new” renewable energy supplies. One reason for this difference is that competitive 

suppliers are subject to price competition, and existing resources are typically available at lower 

costs. Also, when markets initially opened to competition, green power marketers often were 

forced to offer existing renewables because of a lack of “new” renewable energy supplies. 

As new renewable energy facilities have come online, the fraction of new renewables in 

competitive retail products has increased; in 2007, about 75% of competitive market and REC 

sales were supplied from new renewable energy sources. This movement toward increased 

reliance on new renewables has also been encouraged by green power product certification 

programs, which set standards for product quality, and have required increasing amounts of 

 16
“new” renewables. Beginning January 1, 2007, the Green-e Energy certification program began 

requiring that all certified products be supplied exclusively from “new” renewable energy 

projects.19 Ecopower, the Environmental Resources Trust certification program, also requires 

“new” renewable projects. Similarly, the U.S. Environmental Protection Agency’s (EPA) Green 

Power Partnership now requires its partners to purchase “new” renewables to meet its minimum 

purchase criteria.20 

The price premium charged for competitive market products depends on several factors such as 

the price of standard offer or default service, the availability of incentives to green power 

marketers or suppliers, and the cost of renewable energy generation available in the regional 

market. Some marketers have charged prices close to or even below the default market price in 

recent years (e.g., in Texas); others have offered fixed-price products, providing customers with 

protection against increasing prices for a specified period of time, usually one year. 

Competitively marketed green power products generally carry a price premium of between 

1¢/kWh and 2.5¢/kWh for residential and small commercial customers, although offerings have 

ranged from discounts to a premium of about 10¢/kWh in recent years. In addition, price 

premiums can change frequently with changes in market conditions. Higher-priced products 

often contain a larger fraction of “new” renewable energy content or resources that are more 

desirable to consumers, such as new wind and solar. 

Similar to competitively marketed products, retail prices charged for REC products typically 

range from about 1¢/kWh to 2.5¢/kWh for residential and small commercial customers, although 

some are priced as high as 5.0¢/kWh. In most cases, larger customers are able to negotiate lower 

prices. Nearly all REC products are sourced from new renewable energy generation projects, as a 

result of product certification requirements. 

REC purchasers often seek certification out of concerns over “double counting” and to ensure a 

level of oversight and auditing because RECs are generally not subject to the same regulatory 

scrutiny as electricity and mandatory renewable requirements. Table 13 shows Green-e Energy

certified retail and wholesale transactions in 2006 and 2007. Because some kWh of renewable 

energy are certified at more than one level—both at the retail and wholesale levels—we adjust 

the Green-e Energy data when determining the fraction of the overall market that is Green-e 

Energy certified. According to Green-e Energy, about 12.1 million kWh of renewable energy 

was certified in 2007, when adjusted for kWh of renewable energy certified at more than one 

level. Based on this figure, about two-thirds of the kWh that are sold retail in the overall green 

power market are Green-e Energy certified at some level (Karelas 2008). Also, note that the 

Green-e Energy and NREL REC figures differ because some of the wholesale Green-e Energy

certified RECs are used to supply green pricing programs or competitively marketed retail 

products, and are counted in the other categories in the NREL figures. 

 

19 Administered by the San Francisco-based Center for Resource Solutions, the Green-e Energy program certifies 

retail and wholesale green power products that meet its environmental, product content, and marketing standards. 

For details on the Green-e Energy National Standard, see the Green-e Web site at: http://www.green-e.org/. 20 See the EPA’s Green Power Web site at: http://www.epa.gov/greenpower. 

 17
Table 13. Total Sales of Green-e Energy Certified Renewable Energy, 2006 and 2007, Million kWh 

Residential Commercial Wholesale Total 

Year 2006 2007 2006 2007 2006 2007 2006 2007

RECs 39 82 3,495 7,305 5,223 6,468 8,757 13,855

Green Pricing 484 834 125 367 0 0 609 1,201

Competitive Electricity 84 148 273 250 148 239 505 637

Total 607 1,064 3,893 7,922 5,371 6,707 9,871 15,693

Source: Center for Resource Solutions 2007; Karelas 2008 

REC and Competitive Market Customer Participation 

Based on data received from green power marketers, we estimate that about 310,000 retail 

customers were purchasing green power from competitive suppliers or as unbundled RECs at the 

end of 2007 (Table 14). This number includes nearly 125,000 participants in utility/marketer 

programs available in competitive markets. The number of customers participating in 

utility/marketer programs grew faster than utility green pricing programs as a whole (52% 

compared to 12%, respectively), likely because many of these programs are still relatively new. 

In competitive markets, the vast majority of customers purchasing green power are residential 

customers. Of the approximately 310,000 retail customers, more than 13,000 purchase REC-only 

products. While most of the REC purchasers are also residential customers, the vast majority of 

REC sales on a kWh-basis are made to nonresidential customers due to the much larger purchase 

sizes. 

Table 14. Estimated Cumulative Number of Customers Purchasing RECs or Green Power 

from Competitive Marketers, 2003-2007

2003 2004 2005 2006 2007 

Competitive Markets ~170,000 <140,000 >180,000 ~ 210,000 ~300,000 

RECs* <10,000 <10,000 <10,000 ~ 10,000 ~13,000 

Total ~180,000 <150,000 ~190,000 ~ 220,000 >310,000 

% Change 13% -17% 27% 16% 37% 

 *Includes only end-use customers purchasing RECs separate from electricity. Totals may not add due to 

rounding. 

In recent years, most of the customer gains in competitive markets resulted from utility/marketer 

partnership programs in the northeast as well as customers who switched from default service to 

retail green power providers in a few states, most notably Texas. These gains have been 

tempered by losses in some states, where marketers have struggled to provide electricity service 

to consumers amidst adverse market conditions and increasing costs. During 2006, EIA data 

show declines in the number of green power customers in Washington, D.C. and Virginia but 

gains in Texas, Maryland, and Pennsylvania (see Appendix C). 

 18
REC and Competitive Market Green Power Sales

An estimated 14 billion kWh of renewable energy was sold to retail customers by competitive 

green power and REC marketers in 2007 (Table 15). This figure includes renewable energy from 

both pre-existing and new sources. In 2007, about three-quarters of the REC and green power 

competitive market retail kWh-sales were supplied from new renewable energy sources. 

About 3.2 billion kWh were sold as a bundled green power product in competitive electricity 

markets—a significant increase from 2006. However, 2006 sales figures are underestimated 

because of data gaps; thus data limitations may explain some of the overall difference in volumes 

in recent years. Nevertheless, most marketers reported gains in 2007. The competitive market 

sales figure includes renewable energy sales through default utility/marketer programs or 

individual utility/marketer partnership in competitive markets, which amounted to approximately 

700 million kWh in 2007, an increase of about two-thirds over 2006. Retail REC sales increased 

by 55%, reaching 10.5 billion kWh in 2007. Most of the growth in REC-only sales is attributable 

to the nonresidential sector. 

Table 15. Retail Sales of Renewable Energy in Competitive Markets and RECs* 

(Million kWh)

2004 2005 2006 2007 

Competitive Markets 

 Residential 2,140 1,330 1,000 1,800 

 Nonresidential 510 820 710 1,400 

 Subtotal 2,650 2,150 1,720** 3,200 

 % Change 40% -19% -20%** 88%** 

 % Residential 81% 62% 59% 56% 

Unbundled RECs*** 

 Residential 40 40 110 60 

 Nonresidential 1,690 3,840 6,700 10,500 

 Subtotal 1,720 3,890 6,810 10,500 

 % Change 160% 126% 75% 55% 

 % Residential 2% 1% 2% 1% 

Total Sales 4,370 6,040 8,530 13,800 

 % Change 71% 38% 41% 62% 

 *Totals may not add due to rounding. 

 **2006 sales figures are likely underestimated because of data gaps. 

 ***Includes only RECs sold to end-use customers separate from electricity. 

 19
Table 15 also delineates green power sales by customer segment. In 2007, about 55% of green 

power sales in competitive markets were to residential customers. In contrast, nearly all 

unbundled REC sales were to nonresidential customers. Generally, nonresidential customers find 

REC-only products attractive because of their flexibility and the greater potential for cost savings 

because they can be sourced from renewable energy projects in more favorable resource 

locations and the electricity need not be delivered directly to the customer, lowering transaction 

costs. On the other hand, residential customers may be not be aware that RECs are available or 

may not understand them. For commercial and institutional customers that operate facilities in 

multiple locations across the country, RECs may also provide a more efficient green power 

sourcing solution than working with utilities in each individual utility territory.21

In 2007, renewable energy sold in competitive markets or as unbundled RECs represented an 

equivalent renewable energy capacity of nearly 3,800 MW, with nearly 3,000 MW of this total 

coming from “new” renewable energy resources (Table 16). This is up from 2,400 MW of 

equivalent capacity and 2,100 MW of new capacity in 2006. Equivalent figures for 2005 are 

1700 MW and 1300 MW, respectively. Capacity estimates for earlier years are provided in 

Appendix A. 

Table 16. Renewable Energy Sources Supplying Competitive and REC Markets, 2007 

Biomass/ 

Landfill Gas Geothermal Hydro Solar Wind Unknown Total 

MWh Sales 4,412,000 326,000 1,973,000 19,000 6,730,000 336,000 13,795,000 

% of Total 

Sales 32% 2% 14% 0.1% 49% 2% 100% 

Total MW 592 41 450 11 2,561 77 3,732 

MW New RE 438 41 120 9 2,386 -- 2,994** 

**Information on new content is unavailable in some instances. 

 

21 For example, the EPA Green Power Partnership reports that the majority of its top 25 partners purchase RECs 

(Appendix B), see http://www.epa.gov/greenpower/. In addition, the Green Power Market Development Group 

promotes the purchase of RECs among its members, see the organization’s Web site at: 

http://www.thegreenpowergroup.org/. 

 20
Voluntary Green Power Market Trends and Issues 

The voluntary green power market continues to exhibit strong growth. This section briefly 

describes several key issues that are contributing to the industry’s growth, including utility 

programs that offer fuel price stability benefits to consumers and community challenges that 

encourage consumers to purchase green power. Green power markets are also affected by other 

related markets. For example, emerging markets for energy savings certificates (ESC)—the 

energy efficiency parallel to RECs—may have implications for the green power market, if they 

gain market traction. In this section, we discuss experience with ESCs to date and barriers and 

opportunities for voluntary ESC markets to develop in the United States. 

Fuel Price Stability Benefits in Green Power Programs 

The overall success of the voluntary green power market rests on the willingness of large 

numbers of individual consumers to pay a premium for these electricity products. Accordingly, 

electric utilities must present a compelling value proposition for their green power products. The 

stable-price characteristic of renewable energy generation offers an important and appealing 

benefit for many consumers and businesses. However, the availability of stable-price green 

power products does not guarantee program success. Other factors are important as well, such as 

program awareness, the extent and effectiveness of program marketing, and the pricing of the 

product compared to conventional electricity rates. 

Nevertheless, fuel price stability has been a key design element for a number of successful utility 

green pricing programs. For example, Austin Energy’s green pricing program has led the nation 

in terms of green power sales since 2001 and its program represented about 15% of all green 

pricing sales nationally in 2006 (Bird and Kaiser 2007). In addition, a number of utilities that 

offer some form of fuel price protection to their green power customers have been ranked among 

the top 10 U.S. green pricing programs in recent years with respect to green power sales or 

participation, including Xcel Energy, Edmond Electric, Holy Cross, Oklahoma Gas & Electric 

(OG&E), and We Energies (NREL 2008). Programs that offer protection from price volatility 

also tend to have lower price premiums, in part as a consequence of the stable-price benefit. 

According to the most recent rankings based on 2007 data, about half of the utilities offering the 

lowest premiums for new renewables exempted customers from fossil-fuel charges or offered a 

fixed green rate (NREL 2008). 

Several approaches exist to provide green power customers with the stable-price benefits of 

renewables and provide a hedge against increasing fossil fuel prices (Bird et al. 2008). The most 

straightforward method is to establish a separate green power rate that substitutes for a utility’s 

conventional energy or fuel rate. 

Austin Energy has used this approach in pricing its GreenChoice product, which is supplied 

primarily with wind energy. A key characteristic of the GreenChoice product is the 

establishment of a separate green charge, which substitutes directly for the utility’s fuel charge. 

The fuel charge is a line item on the customer’s bill, consisting of forecasted annual fuel and 

purchased power costs, and estimated fees and charges from the Electric Reliability Council of 

 21
Texas (ERCOT) incurred to meet service-area obligations.22 The green charge, on the other hand, 

is determined by the cost of the renewable energy power purchase contracts Austin Energy signs 

to supply the program, plus additional costs such as ancillary services and product marketing, 

and is currently fixed for 15 years. 

The key factor that allows Austin Energy to offer a fixed -rate green power product is that the 

renewable energy supply is locked in at a fixed rate for 10 to 20 years, depending on the 

associated supply contracts. Accordingly, business customers, who are the primary target of the 

program, must commit to the GreenChoice program for a 15-year period,23 reducing the risk for 

the utility that demand for the renewable energy project will fluctuate. The utility also has an 

unbundled rate structure, allowing the green charge to directly substitute for the fuel charge on 

customer bills. 

The challenges with this approach are that it requires both an unbundled rate structure and that 

the utility enter into long-term contracts for the renewable energy resources used. The latter 

condition presents some risk to the utility and its ratepayers if the program is undersubscribed. 

An alternative approach is to exempt green power customers from fossil fuel-cost adjustments 

(FCAs). For example, in Wisconsin, Second Nature customers served by Wisconsin Power & 

Light (WP&L) were exempted from FCA surcharges that were instituted after January 1, 2001. 

Two fuel cost increases totaling 0.58¢/kWh lowered the net green power premium from 2¢/kWh 

to 1.42¢/kWh by the middle of 2001, but a fuel-cost decrease of 0.19¢/kWh increased the 

premium to 1.61¢/kWh in March 2002. 

However, because FCAs are an interim measure for addressing fuel-cost changes between rate 

cases, this approach only provides longer-term fuel-price protection if properly structured. In the 

short-term, FCA exemption provides a stable-price benefit to green power customers, but the 

benefit is negated if higher fuel prices become embedded in base rates without a comparable 

downward adjustment of the green power premium. OG&E addressed this issue by including in 

its green power wind rider rate schedule that the rider needs to be modified to reflect any 

changes in the base cost of fuel (OG&E 2006). 

Finally, utilities can simply revisit the green power price premium when significant fuel price 

changes occur, or when base rates are adjusted, and consider whether the green power premium 

should also be adjusted as a result. This is the most common approach used by utilities over the 

years. There is an open question whether or not green power customers should also be exempted 

from rate changes resulting from utility expenditures to reduce air emissions from fossil fuel 

combustion or from state RPS requirements. 

The key challenges with all three approaches is in accurately determining the conventional 

generation costs that are displaced by the increased utilization of the renewable energy resources 

 

22 Like many other utilities, Austin Energy also includes some portion of its energy costs in base rates and thus its 

GreenChoice customers are not fully excluded from paying these costs. 

23 Originally, this was a minimum 10-year commitment. 

 22
and designing price structures that are fair to both green power consumers and nonparticipating 

ratepayers.24

Community Challenges 

Over the past two years, utilities and their marketing partners have increased the use of “green 

power challenges” to increase participation and awareness for their green pricing programs. The 

utility typically develops the challenge in partnership with local governments, who make their 

own purchase in conjunction with the challenge, and environmental nonprofit organizations, who 

can help communicate the challenge. Utility and local government decision-makers typically 

agree on a goal for a fixed number of sign-ups within a specified time, usually about six months. 

In 2007, at least 14 utilities offered challenges, mostly in small- to mid-sized communities, and 

several more have done so in 2008. Many of these utilities have used challenges in more than 

one of the communities within their service territories. For example, Pacific Power and its sister 

company, Rocky Mountain Power, have launched 11 challenges in their combined Washington, 

Oregon, and Utah communities. Some programs, like Xcel Energy's Windsource, have conducted 

a second challenge in a subsequent year in the same community, as a result of their success with 

the first. 

Several green power challenges have exceeded their stated goals. For example, in 2007, Puget 

Sound Energy launched a Bellingham, Washington challenge that produced 2,000 new 

customers, pushing the community's participation rate to 11% (City of Bellingham 2007). In 

Beaverton, Oregon, Portland General Electric's 2007 challenge set a goal of 250 enrollments and 

reached twice that number (PGE 2007). Generally, challenges have been particularly successful 

in small towns because of the greater ease in communicating the challenge to utility customers, 

the greater likelihood that the mayor will prioritize the challenge, and the sense of community 

pride the challenge can engender. 

The EPA's Green Power Partnership recognizes Green Power Communities that achieve 

collective green power purchases of 2%, 3%, or 6% of the community's purchased electricity 

needs, depending on the size of the community. Recently, the agency recognized 16 

communities, including those of Bellingham and Beaverton, as well as Santa Clara, CA, Palo 

Alto, CA, and Bend, OR. 

Emerging Markets for Energy Savings Certificates

For a number of years, the concept of creating, and even trading, verified fixed units of energy 

savings has been proffered as a vehicle to increase the amount of energy efficiency implemented 

in the United States. However, the country has only started to adopt energy savings certificates 

(ESCs), sometimes referred to as “white tagsTM,” in the past two years. An ESC—the energy 

efficiency analog to RECs—is an instrument representing a unit of energy savings (such as 1 

MWh of savings) that has been measured and verified. ESCs have the potential to bring the same 

market-based flexibility to energy efficiency that RECs have brought to renewable energy, but at 

the same time, could potentially pose competition to the voluntary REC market, as ESCs could 

trade at lower prices.25

 

24 For more discussion of these issues, see Bird et al. (2008). 

25 For more detailed discussion of ESCs, see Friedman et al. (2008). 

 23
While experience with ESCs has been limited to date in the United States, four U.S. states and 

several European countries (Italy, France, and the United Kingdom) have incorporated ESCs into 

policies that establish energy efficiency targets, often referred to as energy efficiency portfolio 

standards (EEPS). As of October 2008, EEPS policies that create long-term targets for energy 

efficiency have emerged in 15 U.S. states, and all but three were adopted within the last three 

years. So far, Connecticut, Michigan, Nevada, and Pennsylvania allow the use of ESCs to meet 

their EEPS, but only in Connecticut have ESCs been actively traded for compliance purposes. At 

least a few other states (North Carolina and Illinois) have opened dockets or are gathering input 

on ESC trading for their consideration within an EEPS policy. 

Voluntary ESC Market Development 

Experience with REC markets has shown that gaining traction in voluntary markets can be partly 

a function of the success of compliance markets. The development of compliance markets may 

be more important for ESCs because they are perhaps even more tenuous in their ability to be 

understood and accepted as a credible instrument demonstrating real, additional environmental 

benefits. Unlike RECs, ESCs cannot rely on readily verified metered data to demonstrate 

measurable results, but instead depend on comparatively complex measurement and verification 

(M&V) protocols, which can vary from one compliance regime to another. 

It is unclear at this early stage whether a voluntary market for ESCs will develop as it has for 

RECs. There have been some spot transactions, particularly of ESCs in the form of carbon 

offsets. In this form, the energy savings can be certified by credible third parties through 

established protocols not yet available to ESCs in non-carbon contexts. But there has been 

neither momentum nor structural support for a standalone ESC voluntary market. There are 

several reasons why the voluntary ESC market has not yet become a significant market tool in 

the United States. 

The first is communicating the value proposition. The concept of ESCs as a tradable commodity 

may be a more difficult concept to communicate, and therefore to market, than even RECs, their 

renewable energy counterpart. In a time when institutional energy users are highly motivated to 

reduce their carbon footprint and “green” their public brand, a purchase of RECs to displace 

electricity use is a fairly straightforward means of accomplishing both. Although energy 

efficiency is at least as effective a means, the buying, and especially the selling, of the results of 

energy efficiency measures in certificate form could invite accusations of “greenwashing.” 

At the least, voluntarily buying or selling ESCs would tend to generate a level of confusion and 

scrutiny aimed at market participants that would not apply to a company merely deploying its 

own energy efficiency program and “keeping” the certificates that demonstrate saved energy. For 

example, could a seller claim its energy savings for branding or carbon purposes? Or, would a 

buyer choosing ESCs over more costly on-site energy efficiency measures want to make energy 

savings claims under those circumstances? Both scenarios could invite the possibility of negative 

attention during a time when many companies are paying close attention to both their carbon 

footprint and the “greenness” of their brand. 

 24
Second, as has been discussed, measuring and verifying energy savings always comes with 

challenges. But voluntary markets tend to be national instead of confined to states or smaller 

geographic regions, increasing the risk that a given ESC, or a MWh of savings for a given 

project, does not carry the same value to the buyer as it does to the seller. For example, the same 

project could have a shorter payback period in one region of the country, where energy prices are 

higher, than in another region. Voluntary markets may require even more stringent additionality 

requirements than compliance programs, particularly if the ESCs are procured for their carbon 

benefits. If consumers voluntarily pay a premium for the ESCs, they need some assurance that 

they are supporting efficiency measures and savings that would not have otherwise occurred. 

Otherwise, consumers simply may be helping the bottom line of corporations where efficiency 

measures are installed, without actually driving the development of new projects. 

The third issue is that no objective third party has stepped into the role of “certifying body” to 

address M&V and additionality issues, on a de facto if not officially recognized basis. 

Environmental Resources Trust-Winrock has promulgated a set of draft rules for the voluntary 

market, with an ESC certification called “Ecopower,” including a model “certification template.” 

As of September 2008, ERT-Winrock has not yet certified any transactions and was still in a 

comment period for the model rules. 

Despite these issues, a few voluntary ESC pilot programs are beginning to emerge. Below, we 

describe a program under development in New York as well as a partnership between IBM and 

Neuwing Energy Ventures. 

NYSERDA Pilot ESC Program 

The New York State Energy Research and Development Authority (NYSERDA) is currently 

developing a pilot voluntary ESC program, expected to be officially launched with its first ESC 

auction by spring 2009. The program is designed to create environmental benefits by increasing 

the implementation of energy efficiency measures, improving the transparency and credibility of 

ESC markets, and addressing potential emissions “leakage” (i.e., shifting power generation to 

outside of the regulated region) that could undermine the goals of the Regional Greenhouse Gas 

Initiative (RGGI), in which New York is a participating state. 

Under the program, NYSERDA will acquire ESCs from qualifying energy efficiency projects, 

auction them to brokers or consumers, and use the proceeds to fund additional energy efficiency 

projects. The revenues from the ESC sales will supplement funds available under NYSERDA’s 

public benefit fund program for energy efficiency. Historically, the fund was known as the “Peak 

Load Reduction” Program; it is currently being redesigned and will be re-launched as the 

“Existing Facilities Program.” Once the ESC program is operational, efficiency projects installed 

through the NYSERDA programs may sell ESCs equivalent to the calculated savings and use the 

revenues to shorten the payback period of efficiency projects. In this way, the sale of ESCs 

should provide greater incentives for efficiency measures and enable a greater volume of energy 

efficiency projects to be implemented, both in terms of size and number of projects. 

NYSERDA plans to use the M&V system already in place for its existing energy efficiency 

program to determine the savings and number of ESCs issued for projects. Therefore, the ESC 

program will require very little additional cost with respect to M&V, but it is expected to be well 

 25
served by NYSERDA’s robust project database and rigorous established protocols. One of the 

stated goals of the program is to ensure that savings are scrutinized and determined to be real and 

additional. Savings for small projects are calculated based on deemed savings, while medium 

projects require engineering analysis. Large projects require both an engineering analysis and 

actual measurement (e.g., using data loggers). 

There are several key features to be culled out of the NYSERDA ESC program and potentially 

emulated. Most important, NYSERDA is relying on its existing efficiency programs and 

infrastructure to provide a foundation for credible ESCs. It is leveraging existing M&V data and 

protocols to minimize transaction costs and to streamline the process of verifying and issuing 

ESCs. In this way, the NYSERDA program is a model that could potentially be replicated by 

other funds that are devoted to implementing efficiency measures. 

Other Voluntary Activity: IBM 

In the private sector, IBM launched another kind of pilot program to create the market flexibility 

that ESCs can provide and help move projects forward in their clients’ energy-intensive data 

centers. Because of cooling and other equipment needs, these operations require as much as 15 

times more energy per square foot than a typical office building. 

In November 2007, IBM created a relationship with Neuwing Energy Ventures to help measure 

energy-reduction measures and create certificates from the reductions. The goal is to make the 

efficiency certificates program available to users of IBM’s systems and data storage offerings, 

providing clients with the option to either keep and retire the certificates or make them available 

for purchase, first in the United States and later in Europe. The certificates program is part of 

IBM’s $1 billion per year “Project Big Green” initiative, aimed at increasing the efficiency of 

IBM products as well as delivering technologies that help customers increase energy efficiency 

in their data centers and physical plants. 

Under the program, Neuwing first establishes an energy consumption baseline for an interested 

data center based on industry estimates for the servers and the data center’s energy profile. The 

energy decision maker for the center can then choose from several preidentified projects aimed at 

reducing electricity consumption in data centers, including the use of virtualization technologies 

to reduce the number of physical systems and methods for correcting design flaws. Once the 

measure is implemented, Neuwing creates certificates based on the savings (MWh) and keeps a 

portion of the certificates or a “per MWh-saved” fee in exchange for their assessment services. It 

is too soon to gauge the effectiveness of the IBM program, but its outline presents an interesting 

set of ideas for a very important sector of the energy efficiency market. 

Early examples of voluntary activity with ESCs suggest an emerging interest to coincide with the 

renewed broader interest in the importance of energy savings. However, for the voluntary market 

to build momentum, there is a need for an independent, national certification body. Voluntary 

markets also can benefit from lessons learned in compliance markets, particularly with regard to 

M&V protocols and certification processes. 

 26
Conclusions and Observations 

The green power market continues to exhibit strong growth and provide an important demanddriven stimulus for renewable energy development. Green power markets provide an additional 

revenue stream for renewable energy projects, and raise consumer awareness of the benefits of 

renewable energy. Based on this review, we have identified the following market trends: 

• In 2007, total retail sales of renewable energy in voluntary purchase markets exceeded 18 

billion kWh, representing a capacity equivalent of 5,100 MW of renewable energy, 

including 4,300 MW from “new” renewable energy sources. 

• Wind energy provided 55% of total green power sales, followed by biomass energy 

sources including landfill gas (28%), hydropower (11%), geothermal (3%), solar (<1%), 

with the remainder unknown (3%). 

• Total market sales increased by more than 50% in 2007, dominated by REC sales to 

nonresidential consumers. Commercial and institutional REC markets now represent 

more than half of total green power market sales, surpassing sales in competitive 

electricity markets and utility green pricing programs. 

• Utility green pricing programs in regulated electricity markets continued to grow, but at a 

slower rate, with sales increasing by about 25% in 2007, compared to nearly 40% in 

2006. A relatively small number of utility programs continue to dominate sales and 

customer numbers. This suggests both that many programs are not achieving their full 

potential and that stronger performance is possible with effective program design and 

implementation along with dedicated marketing. 

• Utility green pricing premiums have continued to fall, owing to a combination of higher 

prices of conventional generation fuels and lower renewable resource costs. 

• Competitive markets grew substantially in 2007. These gains were primarily in Texas and 

the Northeast. Programs where marketers have teamed with default suppliers continued to 

exhibit strong growth in both sales and customers during 2007, showing that 

utility/marketer partnerships hold promise for future growth. 

• In 2007, sales to nonresidential customers continued to outpace those to residential 

consumers, bringing the fraction of nonresidential sales to nearly three-quarters of all 

green power sales on a kWh-basis. The growing dominance of nonresidential sales is a 

departure from the early history of green power markets when most products and 

programs were oriented toward residential customers. Looking forward, demand by the 

nonresidential sector appears to be increasing and will likely continue to drive future 

voluntary market growth. 

• Overall, the total number of customers purchasing green power increased by roughly 

20%, with gains primarily in competitive markets and utility green pricing programs. 

REC markets continue to represent a very small fraction of total customers, although they 

dominate sales. 

 27
References 

Barbose, G. 2008. Lawrence Berkeley National Laboratory, data provided via email 

communication, June 3, 2008. 

Bird, L.; Swezey, B.; Cory, K. (2008). Renewable Energy Price-Stability Benefits in Utility 

Green Power Programs, NREL/TP-670-43532. Golden, CO: National Renewable Energy 

Laboratory, August. http://apps3.eere.energy.gov/greenpower/resources/pdfs/43532.pdf 

Bird, L; Kaiser, M. (2007). Trends in Utility Green Pricing Programs (2006), 2007. NREL/TP670-42287. Golden, CO: National Renewable Energy Laboratory, October. 

Bird, L.; Dagher, L.; Swezey, B. (2007). Green Power Marketing in the United States: A Status 

Report (Tenth Edition), NREL/TP-670-42502. Golden, CO: National Renewable Energy 

Laboratory, December. http://apps3.eere.energy.gov/greenpower/resources/pdfs/42502.pdf 

Bird, L.; Swezey, B. (2006). Green Power Marketing in the United States: A Status Report 

(Ninth Edition), NREL/TP-620-40904. Golden, CO: National Renewable Energy Laboratory, 

November. http://www.eere.energy.gov/greenpower/resources/pdfs/40904.pdf 

Bird, L.; Swezey, B. (2005a). Green Power Marketing in the United States: A Status Report 

(Eighth Edition), NREL/TP-620-38994. Golden, CO: National Renewable Energy Laboratory, 

October. http://www.eere.energy.gov/greenpower/resources/pdfs/38994.pdf 

Bird, L.; Swezey, B. (2005b). Estimates of New Renewable Energy Capacity Serving U.S. Green 

Power Markets, National Renewable Energy Laboratory, September. 

http://www.eere.energy.gov/greenpower/resources/tables/new_gp_cap.shtml

Bird, L.; Swezey, B. (2004). Green Power Marketing in the United States: A Status Report 

(Seventh Edition), NREL/TP-620-36823. Golden, CO: National Renewable Energy Laboratory, 

September. http://www.eere.energy.gov/greenpower/pdfs/36823.pdf 

Bird, L.; Swezey, B. (2003). Green Power Marketing in the United States: A Status Report (6th

Edition), NREL/TP-620-35119. Golden, CO: National Renewable Energy Laboratory, October. 

http://www.eere.energy.gov/greenpower/resources/pdfs/35119.pdf

City of Bellingham (October 26, 2007). “Bellingham recognized nationally for renewable energy 

leadership.” http://www.cob.org/features/2007-10-26-renewable-energy.aspx, Accessed August 

10, 2008. 

Center for Resource Solutions (CRS) (2007). 2006 Green-e Verification Report, San Francisco, 

California, November. http://www.green-e.org/publications.shtml 

Friedman, B.; L. Bird; Barbose, G. Considerations for Emerging Markets for Energy Savings 

Certificates, NREL/TP-670-44072, Golden, CO: National Renewable Energy Laboratory, 

October. 

 28
Holt, E.A.; Holt, M. (2004). Green Pricing Resource Guide (2nd Edition), Ed Holt & Associates, 

Inc., Harpswell, Maine. Prepared for the American Wind Energy Association, Washington DC, 

September. http://www.awea.org/greenpower/greenPricingResourceGuide040726.pdf

Karelas, Andreas, Center for Resource Solutions, San Francisco, California, personal 

communication, August 29, 2008. 

NREL (April 22, 2008). “NREL Highlights Leading Utility Green Power Programs.” News 

release. Accessed April 28, 2008. 

http://www.eere.energy.gov/greenpower/resources/tables/pdfs/0408_topten_pr.pdf 

Oklahoma Gas & Electric (OG&E). (May 1, 2006). “Standard Pricing Schedule: GPWR State of 

Oklahoma.” Green Power Wind Rider. 

Portland General Electric (September 24, 2007). “City of Beaverton becomes EPA Green Power 

Community.” http://www.portlandgeneral.com/about_pge/news/09_24_2007 

_city_of_beaverton_becomes_epa.asp Accessed August 10, 2008. 

Swezey, B.; Bird, L. (2001). Utility Green Pricing Programs: What Defines Success? NREL/TP620-29831. Golden, CO: National Renewable Energy Laboratory, August. 

http://www.eere.energy.gov/greenpower/29831.pdf 

Swezey, B.; Bird, L. (2000). Green Power Marketing in the United States: A Status Report (5th

Edition), NREL/TP-620-28738. Golden, CO: National Renewable Energy Laboratory, August. 

http://www.eere.energy.gov/greenpower/resources/pdfs/28738.pdf 

Swezey, B.; Bird, L. (1999). Information Brief on Green Power Marketing, 4th Edition.

NREL/TP-620-26901. Golden: CO: National Renewable Energy Laboratory, August. 

http://www.eere.energy.gov/greenpower/resources/pdfs/26901.pdf 

U.S. Energy Information Administration (EIA) (2008). Green Pricing and Net Metering 

Programs, 2006. July. 

http://www.eia.doe.gov/cneaf/solar.renewables/page/greenprice/green_pricing.html Accessed 

August 15, 2008. 

U.S. Environmental Protection Agency. EPA Green Power Partnership. “National Top 25: as of 

July 8, 2008.” http://www.epa.gov/greenpower/toplists/top25.htm Accessed August 15, 2008. 

 29
Appendix A. Estimates of New Renewable Energy Capacity 

Serving Green Power Markets, 2000-2004 

Prior to 2005, estimates of the capacity serving green power markets were estimated based on 

renewable energy projects used to serve green pricing programs rather than derived from 

renewable energy sales. Therefore, the 2005 and 2006 capacity estimates are not directly 

comparable to capacity estimates from previous years. However, the two approaches yield 

relatively consistent results. 

Bird and Swezey (2005b) provide details on the derivation of capacity estimates for years 2004 

and earlier. Table A-1 presents estimates of the cumulative new renewable energy capacity 

serving voluntary markets from 2000 to 2004. A brief description of the methodology is included 

below. 

Table A-1. Estimated Cumulative New Renewable Energy Capacity Supplying Green Power 

Markets, 2000-2004* (Megawatts)

Market 2000 2001 2002 2003 2004 

Utility Green Pricing 77 221 279 510 706 

Competitive Markets/RECs 90 542 695 1,126 1,528 

Total** 167 764 974 1,636 2,233 

 *Data not directly comparable with Table 4. 

 **Totals may not add due to rounding. 

 Source: Bird and Swezey (2005b). 

The 2004 and earlier estimates of capacity serving green power markets focus on new renewable 

resources used to serve green power customers. New renewable resources are defined as projects 

or portions of projects built specifically to serve green power customers or recently constructed 

projects that are used to supply green power customers and meet the regional Green-e Energy

standards for new renewables. The estimates do not include pre-existing renewable energy 

projects used for green power supply or capacity used to meet state RPS requirements or other 

renewable energy mandates. 

These estimates generally include the entire capacity of a given renewable energy project, 

irrespective of whether the output has been fully subscribed by green power purchasers (i.e., if a 

utility or developer completed a project before the entire output was sold to prospective 

customers). Therefore, the estimates may include some capacity for which a green power buyer 

was not yet secured. However, in cases where a portion of a project is used to meet a renewable 

energy mandate, only the remainder of the project is counted. 

 30
Appendix B. Top 25 Purchasers in the U.S. EPA Green Power 

Partnership, July 2008 

Table B-1. Top 25 Purchasers in the U.S. EPA Green Power Partnership, July 2008 

Rank Organization Green Power 

Usage (kWh) 

% of Total 

Electricity 

Organization Type Resources

1 Intel Corporation 1,302,040,000 47% Information Technology Biomass, Geothermal, Solar, 

Wind 

2 PepsiCo 1,144,773,154 100% Food & Beverage Various 

3 U.S. Air Force 899,143,000 9% Government (Federal) Biogas, Biomass, Geothermal, 

Solar, Wind 

4 Wells Fargo & Co. 550,000,000 42% Banking & Fin. Services Wind 

5 Whole Foods Market 509,104,786 100% Retail Biogas, Solar, Wind 

6 The Pepsi Bottling 

Group 

470,216,838 100% Food & Beverage Various 

7 Johnson & Johnson 434,854,733 38% Health Care Biomass, Small-hydro, Solar, 

Wind 

8 Cisco Systems, Inc. 378,000,000 44% Information Technology Biogas, Biomass, Solar, Wind 

9 City of Houston, TX 350,400,000 27% Government (Local, 

Municipal) 

Wind 

10 City of Dallas, TX 333,659,840 40% Government (Local, 

Municipal) 

Wind 

11 (tie) Commonwealth of 

Pennsylvania 

300,000,000 30% Government (State) Biomass, Wind 

11 (tie) HSBC North America 300,000,000 93% Banking & Financial Services Wind 

13 U.S. EPA 299,331,375 100% Government (Federal) Biogas, Biomass, Geothermal, 

Wind 

14 Kohl’s Department 

Stores 

236,017,000 20% Retail Various 

15 Starbucks 205,000,000 22% Restaurants & Food Services Wind 

16 University of 

Pennsylvania 

192,727,000 46% Education (Higher) Wind 

17 DuPont Co. 180,063,500 4% Chemical Biomass, Solar, Wind 

18 Los Angeles County 

Sanitation Districts 

171,144,000 54% Government (Local, 

Municipal) 

Biogas 

19 U.S. DOE 157,964,000 3% Government (Federal) Biogas, Biomass, Geothermal, 

Small-hydro, Wind 

20 PepsiAmericas 157,062,875 100% Food & Beverage Various 

21 Vail Resorts 151,311,000 100% Travel & Leisure Wind 

22 New York University 132,000,000 100% Education (Higher) Wind 

23 NatureWorks, LLC 130,000,000 100% Consumer Products Various 

24 Staples 127,322,000 21% Retail Biomass, Solar, Wind 

25 Dell Inc. 116,116,000 33% Information Technology Biogas, Solar, Wind 

Source: U.S. EPA Green Power Partnership (http://www.epa.gov/greenpower/toplists/top25.htm) 

 31
Appendix C. Estimated U.S. Green Pricing Customers by State 

and Customer Class, 2005 and 2006 

Table C-1. Estimated U.S. Green Pricing Customers by State and Customer Class, 2005 and 2006

State 

Electric 

Industry 

Participants 

2006 a

Participating Customers 

2006 2005 

Residential Non-Residential Total Total 

 Alabama 4 157 6 163 975 

 Alaska 1 351 5 356 325 

 Arizona 3 1,894 39 1,933 5,896 

 Arkansas 

 California 11 45,557 1,970 47,527 40,436 

 Colorado 25 46,948 1,145 48,093 40,409 

 Connecticut 

 Delaware 6 1,676 892 2,568 

 District of 

Columbia 2 2,500 1,216 3,716 7,049 

 Florida 6 29,269 32 29,301 23,599 

 Georgia 19 5,846 137 5,983 3,795 

 Hawaii 3 4,416 50 4,466 4,279 

 Idaho 6 4,003 127 4,130 3,878 

 Illinois 7 2,763 7 2,770 1,227 

 Indiana 11 2,014 25 2,039 1,427 

 Iowa 47 7,801 761 8,562 8,050 

 Kansas 

 Kentucky 10 873 16 889 809 

 Louisiana 

 Maine 2 1,939 207 2,146 2,019 

 Maryland 2 30,712 6,336 37,048 32,727 

 Massachusetts 3 5,448 207 5,655 4,709 

 Michigan 9 7,833 159 7,992 2,014 

 Minnesota 99 31,838 504 32,342 24,688 

 Mississippi 1 3 0 3 3 

 Missouri 14 453 6 459 451 

 Montana 7 451 9 460 400 

 Nebraska 4 4,825 62 4,887 3,768 

 Nevada 3 379 0 379 384 

 New Hampshire 

 New Jersey 4 96 267 363 1,692 

 New Mexico 11 14,225 1,352 15,577 9,852 

 New York 9 21,604 827 22,431 6,577 

 North Carolina 22 9,124 356 9,480 7,887 

 North Dakota 12 5,824 22 5,846 6,857 

 Ohio 3 250 2 252 402,433 

 Oklahoma 9 10,657 635 11,292 10,754 

 Oregon 13 78,648 2,085 80,733 63,755 

 32
State 

Electric 

Industry 

Participants 

2006 a

Participating Customers 

2006 2005 

Residential Non-Residential Total Total 

 Pennsylvania 4 36,520 835 37,355 29,758 

 Rhode Island 2 4,410 106 4,516 3,477 

 South Carolina 13 3,229 306 3,535 2,455 

 South Dakota 7 620 20 640 715 

 Tennessee 

 Texas 9 88,670 12,280 100,950 87,224 

 Utah 7 19,716 472 20,188 16,713 

 Vermont 2 4,297 240 4,537 2,095 

 Virginia 2 2,661 17 2,678 3,009 

 Washington 25 35,145 841 35,986 31,351 

 West Virginia 

 Wisconsin 57 30,037 1,298 31,335 39,701 

 Wyoming 7 3,531 75 3,606 3,150 

Total 484 609,213 35,954 645,167 942,772 

a

 Includes entities with green pricing programs in more than one state. 

Note: Nonresidential may include some customers for whom no customer class is specified. Blank cells indicate no data was 

reported for the state or the number of customers in a class was zero. Totals may not sum due to rounding. 

Source: Energy Information Administration, Green Pricing and Net Metering Programs, 2006. July 2008. 

http://www.eia.doe.gov/cneaf/solar.renewables/page/greenprice/table4_1.pdf 

Table C-2. Estimated U.S. Green Pricing Customers by Customer Class, 2002-2006

Year 

Electric 

Industry 

Participants

Participating Customers 

Customer Class 

Residential Total** 

Nonresidential* 

2002 212 688,069 23,481 711,550 

2003 308 819,579 57,547 877,126 

2004 403 864,794 63,539 928,333 

2005 442 871,774 70,998 942,772 

2006 484 609,213 35,954 645,167 

*Note: Nonresidential may include some customers for whom no customer class is specified. 

**Totals may not sum due to rounding. 

Source: Energy Information Administration, Green Pricing and Net Metering Programs, 2006. 

July 2008. http://www.eia.doe.gov/cneaf/solar.renewables/page/greenprice/table4_h1.pdf 

 33
 34

Appendix D. Utilities Offering Green Pricing Programs in 

Regulated Markets, 2007 

Table D-1. Utilities Offering Green Pricing Programs in Regulated Markets, 2007 

Investor-Owned Utilities 

AEP Ohio 

Alabama Power Company 

Alliant Energy 

AmerenUE 

Arizona Public Service 

Avista Utilities 

Central Vermont Public Service 

Cheyenne Light, Fuel and Power Company 

Connecticut Light and Power 

Consumers Energy 

Dominion North Carolina Power 

DTE Energy 

Duke Energy 

El Paso Electric Company 

Entergy Gulf States 

FirstEnergy 

Florida Power & Light Company 

Georgia Power 

Green Mountain Power 

Gulf Power Company 

Hawaiian Electric Company 

Idaho Power Company 

Indianapolis Power & Light Company 

Kansas City Power & Light 

Kentucky Utilities Company 

Louisville Gas and Electric Company 

Madison Gas & Electric 

MidAmerican Energy 

Minnesota Power 

Nevada Power 

NorthWestern Energy 

OG&E Electric Services 

Otter Tail Power Company 

Pacific Gas and Electric Company 

PacifiCorp 

Portland General Electric Company 

Progress Energy Carolinas 

Public Service Company of New Mexico 

Puget Sound Energy 

Savannah Electric 

Sierra Pacific Power Company 

Tampa Electric Company 

Tucson Electric Power Company 

UniSource Energy Services 

United Illuminating 

Upper Peninsula Power Company 

Vectren Energy Delivery of Indiana 

We Energies 

Wisconsin Public Service Corporation 

Xcel Energy 

Electric Cooperatives 

Alabama Electric Cooperative 

Associated Electric Cooperative, Inc. 

Bandera Electric Cooperative 

Basin Electric Power Cooperative* 

Boone Electric Cooperative 

Buckeye Power 

Central Electric Cooperative 

Central Iowa Power Cooperative 

Corn Belt Power Cooperatives 

Dairyland Power Cooperative* 

Dakota Electric Association 

Delaware Electric Cooperative 

Deseret Power 

East Kentucky Power Cooperative* 

Farmers Electric Cooperative 

Georgia Electric Membership Corporation* 

Golden Valley Electric Association 

Great River Energy* 

Gunnison County Electric Association 

Holy Cross Energy 

Hoosier Energy* 

Intermountain Rural Electric Association 

KAMO Electric Cooperative 

Kauai Island Utility Cooperative (KIUC) 

La Plata Electric Association 

Lower Colorado River Authority 

Lower Valley Energy 

Midstate Electric Cooperative 

Minnkota Power Cooperative* 

New-Mac Electric Cooperative 

Orcas Power & Light 

Oregon Trail Electric Cooperative 

Park Electric Cooperative 

Pedernales Electric Cooperative 

Peninsula Light Company 

PNGC Power* 

Prairie Power* 

Southern Montana Electric G&T Cooperative 

Tri-State Generation and Transmission 

Association* 

Vigilante Electric Cooperative 

Wabash Valley Power Association* 

Western Farmers Electric Cooperative 

Yampa Valley Electric Association 

Federal 

Tennessee Valley Authority* 

Municipal/Public Utilities 

City of Alameda 

American Municipal Power-Ohio 

Anaheim Public Utilities 

City of Ashland 

Austin Energy 

Austin Utilities (MN) 

Benton County Public Utility District 

City of Bowling Green 

Burbank Water and Power 

Cedar Falls Utilities 

Central Minnesota Municipal Power Agency 

Chelan County Public Utility District 

Clallam County PUD 

Clark Public Utilities 

Colorado Springs Utilities 

Columbia River PUD 

Concord Municipal Light Plant 

Cowlitz PUD 

CPS Energy (San Antonio) 

Edmond Electric 

City of Eldridge (IA) 

ElectriCities 

Emerald People's Utility District 

Estes Park Light & Power 

Eugene Water & Electric Board 

Fort Collins Utilities 

Gainesville Regional Utilities 

Grant County PUD 

Grays Harbor PUD 

Heartland Consumers Power District 

Iowa Association of Municipal Utilities* 

Keys Energy Services 

Lakeland Electric 

Lansing Board of Water and Light 

Lenox Municipal Utilities 

Lewis County PUD 

Lodi Utilities 

Longmont Power & Communications 

Los Alamos County (NM) 

Los Angeles Department of Water and 

Power 

Loveland Water & Power 

Mason County PUD No. 3 

Missouri Joint Municipal Electric Utility 

Missouri River Energy Services* 

Moorhead Public Service 

Muscatine Power and Water 

City of Naperville 

City of New Smyrna Beach 

Northern Wasco County PUD 

Oklahoma Municipal Power Authority 

Omaha Public Power District 

Owatonna Public Utilities 

Pacific County PUD 

City of Palo Alto Utilities 

Pasadena Water & Power 

Platte River Power Authority* 

Rochester Public Utilities (MN) 

Roseville Electric 

Sacramento Municipal Utility District 

Salt River Project 

Santee Cooper 

Seattle City Light 

Shrewsbury Electric and Cable 

Operations 

Silicon Valley Power 

Snohomish County Public Utility District 

Southern Minnesota Municipal Power 

Agency* 

City Utilities of Springfield (MO) 

Springfield Utility Board 

City of St. Charles 

City of St. George 

Tacoma Power 

City of Tallahassee 

Traverse City Light & Power 

Waverly Light and Power 

Wisconsin Public Power Inc. 

*denotes program offered through 

multiple utilities or distribution 

cooperatives 
Table D-2. Utility/Marketer Green Power Programs in Restructured Electricity Markets, 

2007 

Atlantic City Electric 

Consumers Energy 

Connecticut Light & Power 

JP&L 

Kennebunk Light and Power District

Long Island Power Authority 

National Grid (Massachusetts Electric, Nantucket 

 Electric, Narragansett Electric, Niagara Mohawk) 

NYSEG 

Rochester Gas and Electric 

Rockland Electric 

PECO Energy 

PSE&G 

United Illuminating 

 35
Appendix E. Links to Utility Green Pricing Programs and 

REC and Competitive Market Green Power Offerings 

Table of Utility Green Pricing Programs by State: 

http://www.eere.energy.gov/greenpower/markets/pricing.shtml?page=1

Renewable Energy Certificate Retail Products: 

http://www.eere.energy.gov/greenpower/markets/certificates.shtml?page=1 

Retail Green Power Product Offerings in States with Retail Competition: 

http://www.eere.energy.gov/greenpower/markets/marketing.shtml?page=1

 36
Appendix F. Top Ten Utility Green Pricing Programs 

Table F-1. Green Pricing Program Renewable Energy Sales (as of December, 2007) 

Rank Utility Resources Used 

Sales 

(kWh/year) 

Sales 

(aMW)a

1 Austin Energy Wind, landfill gas 577,636,840 65.9 

2 Portland General Electricb Geothermal, 

biomass, wind 553,677,903 63.2 

3 PacifiCorpcde Wind, biomass, 

landfill gas, solar 383,618,885 43.8 

4 Florida Power & Lightb Biomass, wind, 

landfill gas, solar 373,596,000 42.6 

5 Xcel Energyef Wind 326,553,866 37.3 

6 Sacramento Municipal Utility Districte Wind, landfill gas, 

small hydro, solar 275,481,584 31.4 

7 Puget Sound Energye Wind, solar, 

biomass, landfill gas 246,406,200 28.1 

8 Basin Electric Power Cooperative Wind 226,474,000 25.9 

9 National Gridgh Biomass, wind, 

small hydro, solar 180,209,571 20.6 

10 PECOi Wind 160,000,000 18.3 

a An “average megawatt” (aMW) is a measure of continuous capacity equivalent (i.e., operating at a 

100% capacity factor). b Marketed in partnership with Green Mountain Energy Company. For Portland General Electric, some 

products marketed in partnership with Green Mountain Energy Company. c

 Includes Pacific Power and Rocky Mountain Power. 

d

 Some Oregon products marketed in partnership with 3Degrees Group, Inc. 

e Product is Green-e Energy certified (www.green-e.org). f

 Includes Northern States Power, Public Service Company of Colorado, and Southwestern Public 

Service. g

 Includes Niagara Mohawk, Massachusetts Electric, Narragansett Electric, and Nantucket Electric. 

h

 Marketed in partnership with Community Energy, Inc., EnviroGen, Green Mountain Energy Company, 

Mass Energy, People’s Power & Light, and Sterling Planet. i Marketed in partnership with Community Energy, Inc. 

 37
Table F-2. Total Number of Customer Participants (as of December, 2007) 

Rank Utility Program(s) Participants 

1 Xcel Energya Windsourceb

Renewable Energy Trust 75,534 

2 Portland General Electriccg Clean Wind 

Green Source 61,543 

3 PacifiCorpde 

Blue Sky Blockb

Blue Sky Usageb

Blue Sky Habitat 

60,539 

4 Sacramento Municipal Utility District Greenergyb 43,543 

5 PECOf PECO WIND 38,548 

6 Florida Power & Lightg Sunshine Energy 37,184 

7 National Gridhi GreenUp 24,429 

8 Los Angeles Department of Water and Power Green Power for a Green 

LA 22,788

9 Puget Sound Energy Green Power Programb 20,457 

10 Energy East (NYSEG/RGE)f Catch the Wind 19,520 

a

 Includes Northern States Power, Public Service Company of Colorado, and Southwestern Public 

Service. b Product is Green-e Energy certified (www.green-e.org). c Some products marketed in partnership with Green Mountain Energy Company. 

d

 Includes Pacific Power and Rocky Mountain Power. 

e

 Some Oregon products marketed in partnership with 3Degrees Group, Inc. 

f

 Marketed in partnership with Community Energy, Inc. 

g

 Marketed in partnership with Green Mountain Energy Company. 

h

 Includes Niagara Mohawk, Massachusetts Electric, Narragansett Electric, and Nantucket Electric. 

i

 Marketed in partnership with Community Energy, EnviroGen, Green Mountain Energy Company, Mass 

Energy, People’s Power & Light, and Sterling Planet. 

 38
Table F-3. Customer Participation Rate (as of December 2007) 

Rank Utility 

Customer 

Participation 

Rate Program(s) 

Program 

Start 

Year 

1 City of Palo Alto Utilitiesab 20.4% Palo Alto Green 2003 

2 Lenox Municipal Utilitiesc 14.3% Green City Energy 2003 

3 Silicon Valley Powerab 8.7% Santa Clara Green Power 2004 

4 Portland General Electricd 8.5% Clean Wind, Green Source, 

Renewable Future 2002 

5 Sacramento Municipal Utility 

Districtb 7.4% Greenergy 1997 

6 City of Naperville Public Utilitiese 6.7% Renewable Energy 

Program 2005 

7 Montezuma Municipal Light & 

Powerc 6.2% Green City Energy 2003 

8 Pacific Power (Oregon only)ab 5.7% Blue Sky Usage, Habitat, 

Block 2002 

9 River Falls Municipal Utilitiesf 5.3% Renewable Energy 

Program 2001 

10 Holy Cross Energy 5.2% 

Wind Power Pioneers 

Local Renewable Energy 

Pool 

1998 

2002 

a

 Marketed in partnership with 3Degrees Group, Inc. 

b Product is Green-e Energy certified (www.green-e.org). c

 Program offered in association with the Iowa Association of Municipal Utilities. d

 Some products marketed in partnership with Green Mountain Energy Company.

e Marketed in partnership with Community Energy, Inc. 

f

 Power supplied by Wisconsin Public Power, Inc. 

 39
Table F-4. Green Power Sales as a Percentage of Total Retail Electricity Sales (in kWh) (as 

of December 2007)

Rank Utility Program Name % of Load 

1 Edmond Electrica Pure & Simple 5.7% 

2 Austin Energy GreenChoice 5.0% 

3 City of Palo Alto Utilitiesbd PaloAltoGreen 4.6% 

4 Portland General Electricc

Clean Wind, Green 

Source, Renewable 

Future 

2.9% 

5 Silicon Valley Power, City of Santa 

Clarabd 

Santa Clara Green 

Power 2.8% 

6 Sacramento Municipal Utility Districtd Greenergy 2.6% 

7 Basin Electric Power Cooperative PrairieWinds 1.9% 

7 Pacific Power (Oregon only)bde Blue Sky Usage, 

Habitat, Block 1.9% 

9 Emerald People's Utility District EPUD Renewables 1.8% 

10 Public Service Company of New Mexico PNM Sky Blue 1.5% 

10 Roseville Electricbd Green Roseville 1.5% 

a

 Power supplied by Oklahoma Municipal Power Authority. 

b

 Marketed in partnership with 3Degrees Group, Inc. 

c Marketed in partnership with Green Mountain Energy Company. 

d Product is Green-e Energy certified (www.green-e.org). e Renewable portfolio options offered to Oregon customers. 

 40
 41

Table F-5. Price Premium Charged for New, Customer-Driven Renewable Powera (as of 

December 2007)

Rank Utility Resources Used 

Premium 

(¢/kWh) 

1 Edmond Electricbc Wind 0.09 

2 OG&E Electric Servicesb Wind 0.10 

3 Austin Energy be Wind, landfill gas 0.16 

4 Indianapolis Power and Light Wind, landfill gas 0.20 

5 Park Electric Cooperative Wind 0.22 

6 Avista Utilities Wind, landfill gas, biomass 0.33 

7 Xcel Energy (Minnesota)bdf Wind 0.58 

8 Clallam County Public Utility Districtb Landfill gas 0.70 

9 PacifiCorpdg Wind, biomass, landfill gas, 

solar 0.78 

10 Portland General Electrich Biomass, Geothermal, Wind 0.80 

10 Emerald People’s Utility District Wind 0.80 

a

 Includes only programs that have installed or announced firm plans to install or purchase power from 

100% new renewable resources. b

 Premium is variable; customers in these programs are exempt or otherwise protected from changes in 

utility fuel charges. c

 Power supplied by Oklahoma Municipal Power Authority. 

d Product is Green-e Energy certified (www.green-e.org). e

 The price for new customers enrolling in the program (fourth batch of renewable energy capacity). f

 Net premium of the Minnesota Windsource program. g

 Pacific Power Blue Sky Usage product; only available in Oregon. Product marketed in partnership with 

3Degrees Group, Inc. h

 Portland General Electric Green Source Product. Product marketed in partnership with Green 

Mountain Energy Company. 
F1147-E(10/2008) 

REPORT DOCUMENTATION PAGE Form Approved 

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PLEASE DO NOT RETURN YOUR FORM TO THE ABOVE ORGANIZATION.

1. REPORT DATE (DD-MM-YYYY)

October 2008 

2. REPORT TYPE

Technical Report 

3. DATES COVERED (From - To)

 

4. TITLE AND SUBTITLE

Green Power Marketing in the United States: A Status Report 

(11th Edition) 

5a. CONTRACT NUMBER

DE-AC36-08-GO28308 

5b. GRANT NUMBER

5c. PROGRAM ELEMENT NUMBER

6. AUTHOR(S)

Lori Bird, Claire Kreycik, and Barry Friedman 

5d. PROJECT NUMBER

NREL/TP-6A2-44094 

5e. TASK NUMBER

SAO7.8730 

5f. WORK UNIT NUMBER

7. PERFORMING ORGANIZATION NAME(S) AND ADDRESS(ES)

National Renewable Energy Laboratory 

1617 Cole Blvd. 

Golden, CO 80401-3393 

8. PERFORMING ORGANIZATION

REPORT NUMBER

NREL/TP-6A2-44094 

9. SPONSORING/MONITORING AGENCY NAME(S) AND ADDRESS(ES) 10. SPONSOR/MONITOR'S ACRONYM(S)

NREL 

11. SPONSORING/MONITORING

AGENCY REPORT NUMBER

12. DISTRIBUTION AVAILABILITY STATEMENT

National Technical Information Service 

U.S. Department of Commerce 

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13. SUPPLEMENTARY NOTES

14. ABSTRACT (Maximum 200 Words)

This report documents green power marketing activities and trends in the United States. It presents aggregate green 

power sales data for all voluntary purchase markets across the United States. It also provides summary data on utility 

green pricing programs offered in regulated electricity markets and green power marketing activity in competitive 

electricity markets, as well as green power sold to voluntary purchasers in the form of renewable energy certificates. 

Key market trends and issues are also discussed. 

15. SUBJECT TERMS

NREL; Green Power Marketing; utility green pricing programs; renewable energy certificates; renewable electricity; 

green power; market trends; Lori Bird; Claire Kreycik; Barry Friedman 

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OF ABSTRACT

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