Beyond annual matching: The evolution of time-stamped RECs

For more than a decade, Renewable Energy Certificates (RECsI-RECs, GOs, TIGRs, LGCs, ZNECs, J-Credits) have underpinned global renewable electricity procurement. By purchasing RECs equivalent to their annual electricity consumption, organisations can demonstrate that an equivalent amount of renewable electricity has been generated and supplied to the grid, supporting commitments under RE100RE100 is the global corporate renewable energy initiative bringing together large businesses committed to 100% renewable electricity. The members must be influential based on their either their brand, global presence, significant energy use or other characteristics that bring attention to their commitment. All companies must commit to purchasing 100% of their electricity from renewable sources by 2050 and purchase that power in the same location they are using it. Interim targets are 60% by 2030 and 90% by 2040. The program is led by the Climate Group in partnership with the CDP. More, the Science Based Targets initiative (SBTiScience Based Targets initiative), the GHGGreenhouse gases trap heat in the atmosphere. They all have different global warming potentials (GWP) over different time frames, the higher the number, the worse the impact. For simplicity of accounting everything is referenced back to carbon dioxide which has a global warming potential of 1. There are over 200 GHGs listed in the IPCC fifth assessment report, a sample are below. Note that in current carbon accounting standards the 100 year GWP is used. Greenhouse gas 20 year GWP100 year GWPCarbon dioxide CO211Methane CH48428Hydrofluorocarbon HFC-134a37101300Chlorofluorocarbon CFC-1169004660Nitrous Oxide N2O264265Sulfur hexafluoride SF617,50023,500 Protocol and other voluntary renewable electricity frameworks. 

But one question is gaining attention: 

Does it matter when renewable electricity is generated? 

Increasingly, the answer is yes. 

From annual matching to hourly matching 

Traditional RECRenewable Energy Certificate procurement is generally based on annual volumetric matching for Scope 2 emissions from electricity. A company consuming 10,000 MWh of electricity during a calendar year purchases 10,000 MWh of RECs generated within the same year. 

While this approach has successfully driven demand for renewable energy, it does not distinguish between when renewable electricity is generated and when it is consumed. 

For example, electricity generated by a solar farm at noon can be matched against electricity consumed at midnight under annual accounting. Although the annual renewable volume matches, this approach does not show whether renewable electricity was available at the time it was consumed, nor does it necessarily encourage renewable investment during peak demand periods. 

Time-stamped RECs aim to address this gap. 

What is a time-stamped REC? 

Time-stamped RECs, sometimes referred to as granular certificates or hourly energy attribute certificates, include a generation timestamp. This allows electricity consumption to be matched with renewable generation on an hourly—or potentially sub-hourly—basis. 

Rather than asking: 

“Did I buy enough renewable electricity this year?” 

companies can begin asking: 

“Was renewable electricity available when I was actually consuming power?” 

This provides a clearer picture of how closely renewable generation aligns with electricity demand. 

Why is this gaining attention now? 

The move towards time-based matching is being driven by several factors. 

First, corporate sustainability programs are becoming more sophisticated. Many organisations that have achieved annual renewable electricity targets are now looking for ways to demonstrate higher-quality procurement. 

Second, emerging industry initiatives—including discussions within the Greenhouse Gas ProtocolThe GHG Protocol is the most widely used greenhouse gas accounting standard for companies. It provides guidance on the calculation of scope 1, 2 and 3 emission sources. It is consistent with the ISO 14064 series of accounting standards on greenhouse gases. review process, the Science Based Targets initiative and Climate Group’s work on 24/7 carbon-free energy—are increasingly recognising the importance of temporal matching. 

While requirements are still evolving, the direction of travel is towards greater transparency over when renewable electricity is generated. 

Finally, advances in metering and data systems are making hourly accounting more practical. Renewable generation and electricity consumption can now be tracked at much finer intervals than was previously possible. 

Recent developments 

The GHG Protocol published its feedback summary from the first public consultation on 29 July 2026. Hourly and regional matching, in the form proposed, received relatively low stakeholder support. 

A second consultation is expected later in 2026, with a final standard projected for 2027 and implementation potentially beginning in 2028. 

This is significant because the market had expressed concern that hourly matching could make annual I-RECs non-compliant for Scope 2 market-based reporting. The stakeholder response provides more time for the current instrument regime and may reduce the near-term risk of declining demand for annual I-RECs. 

EnergyTag has also published a Taiwan-specific analysis examining the country’s potential pathway towards sub-hourly matching. 

Taiwan currently issues monthly T-RECs despite having 15-minute metering capability. This suggests that a move towards granular or hourly certificates is technically achievable and aligned with the country’s policy direction. 

Taiwan could therefore become an early mover in 24/7 renewable electricity matching in Asia, ahead of any future requirements adopted by the GHG Protocol. 

What we are seeing in the market 

Australia’s time-stamped Renewable Electricity Guarantee of Origin certificates, or REGOs, will also recognise renewable electricity discharged from energy storage. This may allow renewable electricity generated earlier to be matched with periods of peak electricity demand. 

Leading multinational companies are beginning to pilot time-stamped RECs in selected markets before considering wider implementation. 

Selected Asian markets are emerging as early pilot locations, supported by sophisticated electricity markets, widespread interval metering and a concentration of regional corporate headquarters. 

This reflects where the market currently stands. Annual RECs remain the dominant procurement instrument, but forward-looking organisations are exploring how time-of-generation data available through existing mechanisms could strengthen future sustainability reporting and renewable energy strategies before fully time-stamped RECs become widely available. 

What does this mean for renewable energy markets? 

Time-stamped RECs are not necessarily a replacement for conventional RECs, but they may represent the next stage in their evolution. 

Adding temporal information creates new market signals by highlighting when clean electricity is abundant and when it is scarce. Over time, this could encourage greater investment in technologies that improve hourly matching, including battery storage, flexible demand response and complementary renewable generation. 

For energy buyers, there is no immediate need to replace existing REC procurement programs. Rather, this is an opportunity to understand how procurement expectations are evolving and prepare for a future in which renewable energy claims may increasingly consider not only how much renewable electricity is purchased, but also when it is generated. 

As corporate decarbonisation strategies mature, time-stamped RECs are likely to become more relevant for organisations seeking more transparent and credible renewable electricity procurement. 

Contact Northmore Gordon to learn more about how renewable electricity purchasing is evolving and what time-stamped RECs could mean for your procurement and reporting strategy.