Q4 2020 saw California LCFS credit generation outpace deficit generation, with the credit bank increasing 4.8% between Q3 2020 and Q4 2020. (Note: LCFS credits are issued on a delayed quarterly schedule; the most recent credit issuance was on April 1 for fuel consumption in Q42020)
Electricity as a fuel has been increasing in its market share, aside from the dip at the beginning of the pandemic in Q1 2020
Steady credit pricing for the California LCFS in Q1 2021, with some fluctuation in Q2 2021 as credit prices dipped as low as $173 between March and April, far from its historic highs of $202 per credit.
Oregon CFP now allows the use of renewable energy credits (RECs) to claim zero-carbon electricity
Washington state is the next state to adopt a clean fuels program, aiming to reduce transportation emissions by 20% by 2035, with 2017 as the baseline
Federal, state, and regional grant programs available in California and across the country as regulators push for the transition to zero-emission vehicles and equipment
Learn about Fast Charging Infrastructure (FCI) crediting and how LCFS credits can lower your capital expenditure in DCFCs
City of Porterville, CA Accelerates Adoption of Zero-Emission Vehicles with Revenue from LCFSCredits 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.
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.
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.
SRECTrade was thrilled to sponsor and send seven team members to the Women of Renewable Industries and Sustainable Energy (WRISE) 2021 Leadership Forum. Even virtually, the Forum remained thoughtfully put-together with its workshops, networking events, keynotes, and professional development one-on-one opportunities. SRECTrade applauds WRISE’s commitment to building a diverse workforce for the success of the renewable energy economy for all, especially those who are historically left out of the conversation.
More information on WRISE and how to support the work that the organization is doing can be found here.
As we near the end of 2020 and look to celebrate the holiday season, it is a good time to take a step back and reflect on the ups and downs of the year. With all elements of our personal, social, and professional lives impacted by unprecedented global events, I am thankful that SRECTrade has been able to forge ahead and cross new milestones. I regularly remind myself that many individuals and companies haven’t been as lucky.
Thank you to our clients and partners for continuing to work with us as we expand our business and services. With you, we have been able to continue our mission to accelerate the sustainable adoption of clean energy assets while focusing on making carbon reduction a reality.
Lastly, thank you to the ever-growing SRECTrade team! We’ve recently surpassed 40 employees and look forward to more growth in 2021. We have a very special group of dedicated and passionate people. Across the entire organization, the team is working hard every day to ensure we are providing high quality services and technology to make efficient access to our markets possible.
We wish everyone a happy and healthy holiday season. Stay safe and be well. We look forward to working with you in 2021 and beyond!
SRECTrade is excited to announce a partnership with Dependable Supply Chain Services to power its electric transportation fleet with 100% renewable electricity and manage its portfolio of environmental commodities. A full press release can be found here.
As a partner in the Volvo LIGHTS program, Dependable has adopted a fleet of electric yard tractors, Class-8 electric trucks, electric forklifts and light duty charging stations to demonstrate the logistical and financial feasibility of transportation electrification in the 3PL industry. The electric fleet has been deployed at a variety of Dependable facilities in the Southern California region.
As part of Dependable’s transition to a clean fuel fleet, SRECTrade is leading the Company’s efforts to manage and maintain its portfolio of California Low Carbon Fuel Standard (LCFS) credit generating assets. The LCFS credits are monetized to help facilitate the return on investment in the low carbon vehicles and offset fuel and operational costs associated with the fleet. By pairing Dependable’s electricity consumption with renewable energy, the Company has been able to generate additional quarterly incentive revenue equivalent to approximately $0.25 per kWh.
In addition to electrifying its fleet, Dependable is developing an on-site solar energy facility to power their expanding fleet of EV assets. Investing in on-site renewable generating capacity will further demonstrate grid independence and mitigate energy costs.
We look forward to continuing our relationship with Dependable and providing them the support they need to continue their adoption of clean transportation assets.
SRECTrade is excited to announce its new HelioScope integration, allowing users to seamlessly transfer data between the online platforms. This new feature provides SRECTrade applicants with the ability to import project details from HelioScope to prefill fields in the SRECTrade project application. The integration will save time for SRECTrade’s partners and reduce the chance of error during the renewable energy credit (REC) application process.
To import HelioScope project details, a HelioScope user needs to obtain an API Token and connect it with their SRECTrade account. This will allow the user to utilize the information stored in HelioScope to populate REC application fields such as facility type, owner details, array setup, and more. For more specific instructions on how to utilize the HelioScope integration, please email email@example.com.
The HelioScope integration is the latest chapter in SRECTrade’s history of REC management and transaction innovation. Other recent technology advancements by SRECTrade include partnerships with eGauge and Fronius to allow solar owners using these inverter and meter products to automatically report their production to PJM-GATS, the REC tracking registry for much of the Midwest and Mid-Atlantic.
SRECTrade is always working toward automating the onboarding and management of assets in environmental commodity markets. For more information on technology integrations and partnerships, please reach out to firstname.lastname@example.org.
A copy of the full press release can be found here.
Cameron Bernhardt, Account Manager at SRECTrade, Inc., will be speaking at the SolarWakeup Live! Chicago – Solar Dealmaker Series on Thursday, June 21st in Chicago, IL. The panel, Residential Market – Value Proposition and Market Segments, will be from 1:00-1:45 p.m CST.
Cameron will discuss the SREC components of the upcoming Illinois Adjustable Block Program and speak alongside Amy Heart, Director of Public Policy at Sunrun.
This panel will cover how legislative changes over the last year created different market dynamics that have affected the SREC market and also the Class I market.
SRECTrade is excited to announce the completion of the merger of U.S. Photovoltaics’ (USPV) Renewable Energy Certificate (REC) management, aggregation, and transaction services business. USPV is one of the largest SREC aggregators in Washington, D.C. and Maryland. USPV’s decision to combine with SRECTrade demonstrates our leadership and expertise in managing distributed generation renewable energy assets. SRECTrade’s agency management services now cover 415 Megawatts across more than 31,500 projects in the PJM and NEPOOL REC markets. Additionally, SRECTrade-X, the Company’s institutional REC management software, provides services to 1.1 Gigawatts across more than 104,000 projects. SRECTrade-X also provides REC management solutions to electricity suppliers and environmental commodity trading firms.
SRECTrade looks forward to working with other managers and aggregators as we launch our new Portfolio Partnership Program. This new program allows REC managers and aggregators to utilize SRECTrade’s platform and technology to address a variety of environmental commodity management and transaction solutions.
We are pleased to welcome USPV’s clients and partners and look forward to facilitating the management of their REC assets. USPV client and partner accounts have been migrated onto the SRECTrade platform. All clients can login and view their historic REC transactions, renewable energy facilities, and REC sales preferences.
A copy of the full press release can be found here.
Steven will discuss the Pennsylvania and Maryland Renewable Portfolio Standards’ SREC carve-outs. This panel will cover how legislative changes over the last year created different market dynamics that have affected the SREC market and also the Class I market.
SRECTrade’s CEO, Steven Eisenberg, will be speaking at DistribuTECH 2018 on Wednesday, January 24th in San Antonio, TX. The panel, Building the Transactive Energy Marketplace, will be from 1:30-3:30 p.m. in Room 214C.
Alongside other distributed generation and energy specialists, Steven will discuss the infrastructure needed to support a transactive energy marketplace in which energy asset owners and other market participants buy and sell energy and other attributes. The panel will cover the capabilities and requirements needed to continue to facilitate the growth and development of the industry and overarching vision of a transactive energy marketplace. Topics covered will include advanced metering infrastructure, distributed intelligence, blockchain, and cloud computing.