P.R. Laws tit. 12, § 8129
(a) It is hereby set forth that RECs are personal property and tradable or negotiable commodities that may be purchased, sold, assigned, and/or transferred between persons for any lawful purpose.
(b) RECs to be issued annually by a renewables registry under this chapter shall indicate the total of megawatt-hour (MWh) of energy generated from a sustainable renewable energy and alternative renewable energy during the year in which the energy was generated, as well as the name of the source generating such energy. The ownership of each REC issued shall be held by the energy source that generated the electricity until the ownership of each REC is sold, assigned or otherwise lawfully transferred. Once the REC is presented to prove compliance with the Renewable Portfolio Standard, the Commission shall retire and cancel such REC.
(c) A REC market is hereby established to facilitate compliance with the renewable portfolio standard set forth herein. Any REC holder shall be entitled to negotiate, trade, publish, sell, and otherwise lawfully transfer or assign his/her REC ownership. The Office of the Commissioner of Financial Institutions of Puerto Rico shall not have jurisdiction to regulate this market in any way.
History —July 19, 2010, No. 82, § 2.8.