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RFS Renewable Identification Number (RIN)
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RFS Renewable Identification Number (RIN)
Azure's Comments
Renewable Fuel Standard Program (RFS)
> Established in 2006
> In compliance with the Energy Policy Act (EPAct) of 2005
>Designed to annually regulate volumes of renewable fuel
Alyssa - Believes tighter regulations could have been enacted to best address the need of further RIN regulation
Emily - Considers that the QAP should have had a mandatory system in place instead of voluntary one to ensure accurate data collection
What is an RIN?
> 38 character numeric code assigned to every gallon of renewable fuel
> Used to track amounts of renewable fuels in compliance with EPA's yearly standards.
Comments
RIN Format
KYYYYCCCCFFFFFBBBBB
RRDSSSSSSSSEEEEEEEE
> National Chicken Council (NCC)
> American Fuel & Petrochemical Manufacturers with the American Petroleum Institute (AFPM & API)
> Biomass Magazine
> Clean Energy Renewable Fuel Co.
> Growth Energy
Why did the EPA create RIN regulations?
> To ensure that refiners and importers comply with standards set by the RFS Federal Program
Growth Energy
> Threatens to undermine previous success of RFS program - be devastating to farmers (due to job loss)
National Chicken Council (NCC)
> Strong supporter of proposal - poses no threat of harm to the nation's food supply
Clean Energy
Renewable Fuel
AFPM & API
> In support however still expresses concern for QAP due to past fraud cases
Proposed Rule
> Proposal is problematic and over corrected with no economic incentives for alternative fuels
Final Rule
Biomass Magazine
> Urges EPA to reconsider agenda - believe values of proposal are "disproportionate"
> Was created to ensure continued growth of renewable fuels
> Reduce the amount of gallons used per year
> Calls for a cap at 15.21 billion gallons to limit overuse of resources
> Put into effect on September 16, 2014
> Finalizes a voluntary Quality Assurance
Program (QAP) to ensure the validity of RINs
> Ensures that RINs are retired properly