Archive for April, 2021

City of Porterville Partners with SRECTrade to Accelerate Adoption of Zero-Emission Fleet

Posted April 7th, 2021 by SRECTrade.

City of Porterville, CA Accelerates Adoption of Zero-Emission Vehicles with Revenue from LCFS Credits Managed
and Monetized by SRECTrade

Rapidly Advancing Porterville’s Top Priority – Improved Air Quality

PORTERVILLE, CA, April 7, 2021 – The City of Porterville and SRECTrade today announced key milestones and plans to continue reducing carbon emissions and improving air quality for area residents. Porterville is rapidly electrifying its fleet and getting paid to do so by SRECTrade via the California Low Carbon Fuel Standard (LCFS) program. In a region battling air pollution, the municipality has taken bold steps to deploy zero- and near zero-emissions fleet equipment by deploying Compressed Natural Gas (CNG) buses and electric buses, as well as light-duty charging stations that generated more than $65,000 of LCFS credits in 2020, and with higher post-COVID use could generate more than $100,000 in 2021.

As a visionary and early adopter of alternative fuels among municipalities, Porterville, located in the San Joaquin Valley, deployed its first CNG bus in 2010 and first electric bus in 2018. Porterville’s fleet today consists of 10 battery-electric buses, 12 battery-electric vans, 10 200kW DC Fast Chargers and six Level-2 public charging stations, with 14 additional DCFC stations under construction, that reduce total cost of ownership and enable quicker adoption, while also creating a healthier future for the community. By 2024 Porterville plans to convert its entire fleet to electric and provide more public-access charging infrastructure for residents.

“The key was taking those first steps – it was hard work, but more doable than anyone thought,” said Transit Manager Richard Tree. “A wealth of resources existed to help us move forward. Getting started quickly showed what was possible technologically and financially. We learned, adjusted, and kept moving forward.” Tree emphasized the advantage of engaging resource partners with the knowledge and capabilities required to help address the challenges encountered when planning, funding, deploying, and managing zero-emission transportation equipment and infrastructure.

These cleaner vehicles also save money. Electric fuel and maintenance costs have been reduced by about 80% and 75%, respectively. Grant and incentive programs such as the California LCFS program supported the city’s initial deployment while also providing an ongoing revenue stream and offsetting electricity costs. In the past year alone, the City of Porterville generated an average of $0.21/kWh from its electric fleet.

“The City of Porterville has demonstrated committed leadership in its drive to reduce carbon emissions. We’ve been happy to play our role on this very driven team,” noted Mike Saxton, SRECTrade Managing Director. “SRECTrade plugged in to manage and monetize LCFS credits generated by Porterville’s eligible equipment. The higher dollars we pay organizations directly support our mission to help fund continued deployment of zero-emission equipment.”

Porterville has set its sights on even bolder clean energy goals, exploring solar generation, energy storage, renewable electric vehicle chargers, and electric vehicle and charger programs that would help its residents make the switch to electric vehicles. SRECTrade will continue supporting the municipality through its expertise in environmental commodities and transparent reporting of the value being generated.

About City of Porterville

Porterville is a city in the San Joaquin Valley, in Tulare County, California. It is part of the Visalia-Porterville metropolitan area. Located between Fresno to the north and Bakersfield to the south, Porterville serves as a gateway to Sequoia National Forest, Giant Sequoia National Monument, and Kings Canyon National Park. The city has a population of nearly 60,000.

About SRECTrade, Inc.

SRECTrade provides trusted advice, management, and technology to maximize financial and environmental benefits of environmental commodities for the owners of clean transportation and renewable energy assets. We manage all credit generation and sale to get companies paid in compliance with complex regulatory programs. SRECTrade is the largest agent manager of EV assets for the California Low Carbon Fuel Standard (LCFS) and has earned an annual client retention greater than 99% with more than 54,000 unique assets under management and more than 150,000 clean energy assets utilizing its proprietary technology platform. With presence across 10 regulated markets and 20 tradable products in North America, SRECTrade helps accelerate the adoption of clean energy and clean transportation equipment by minimizing the time, cost, and risk associated with realizing program benefits.

The press release can also be found HERE.

Pennsylvania Alternative Energy Portfolio Standard (AEPS) Expansion Legislation Introduced

Posted April 5th, 2021 by SRECTrade.

On Friday, March 26th, Pennsylvania State Senators Art Haywood (D-Montgomery/Philadelphia) and Dan Laughlin (R-Erie) introduced legislation that would amend PA’s Alternative Energy Portfolio Standards (AEPS) Act of 2004 and increase the state’s Tier I requirement from 8% to 18% by 2026. In addition, the legislation would increase the state’s solar carve-out from 0.5% at present to 5.5%, with 3.75% of the carve-out being sourced from in-state utility-scale solar (projects larger than 5 MW) and 1.75% from in-state distributed solar (smaller, interconnected residential and commercial projects). Notably, the legislation would also establish a limit on the cost of alternative energy credits (AECs, PA’s renewable energy credits) and facilitate long-term contracting in an effort to help minimize ratepayer impacts. Lastly, the legislation would also initiate a study on renewable energy storage in the state. The proposed legislation is expected to help address the state’s current economic crisis due to COVID-19 by inspiring renewable energy investment and creating jobs.

This legislation was introduced just days after PA Governor Tom Wolf’s announcement on March 22nd that 50% of the Pennsylvania government’s electricity will come from solar energy by 2023. The governor’s initiative, named PULSE (Project to Utilize Light and Solar Energy), represents the largest state government solar energy commitment in the nation. PULSE includes seven new solar arrays totaling 191 MW that will be built around the state.

While a number of steps in the legislative process must still be completed before the AEPS expansion would be passed into law, its introduction represents a continued step forward in PA’s renewable energy transition. SRECTrade will continue to monitor the legislation’s development and provide updates.

No one should be afraid to go outside.

Posted April 1st, 2021 by SRECTrade.

It is horrific, heartbreaking, and saddening to see members of our communities and neighborhoods killed, attacked, and abused. We stand in solidarity with the Asian American and Pacific Islander (AAPI) communities during the continued increase in xenophobic, racist anti-Asian American violence across the United States. 

No one should live in fear in their own country. No one should see their loved ones killed or attacked. No one should be afraid to go outside. 

We acknowledge to the AAPI members of our community – team members, partners, stakeholders, and beyond – that we will continue to commit to doing our part to combat the structural racism and fear-mongering that is degrading the safety of our communities. It remains very important that we acknowledge this violence and recognize that this continues to be a daily reality for many others including Black, Latinx, Indigenous, and LGBTQ+ communities across our country. 

These moments and events are a constant reminder that as a company and individuals we need to recommit to the work of supporting cross-racial unity and work towards a future where our communities are free of hate and violence. 

To demonstrate our immediate support, we have donated $5,000 to Asian Americans Advancing Justice (AAJC) and $5,000 to the Asian Pacific Environmental Network (APEN).

Additionally, below are some resources to help support each other, create awareness, and further educate ourselves. 

We stand in solidarity with AAPI communities and condemn hate in all its forms.