The U.S. EPA's Renewable Fuels Standard (RFS) created under the 2007 Energy Independence and Security Act provides a mandate for the production of fuels derived from renewable biomass sources. Through 2022 this mandate will incentivize the production of more than 35 billion gallons of advanced renewable fuels like biogas, cellulosic ethanol and others.
Implementation of the RFS is based on a system of Renewable Identification Number (RIN) credits. RINs are a valuable fungible commodity representing the greenhouse gas emissions reductions associated with renewable fuel production. The ambitious mandate has lead to a high value for RINs, but the commodity can only be created when renewable fuels are used for transportation. However, renewable fuels like biogas that generate electricity, which can then be used to power electric vehicles can generate RINs.
The details of RIN creation and markets get very complicated quickly. Please contact us to find out how to qualify your fuels to monetize this valueable opportunity.