Can the US Renewable Fuel Standard (RFS) program help electric vehicles? According to Reuters, the likelihood that they can is extremely high. To incorporate EVs and charging stations in the plan, it appears that the Biden administration has been collaborating with Tesla’s officials.
Since 2005, corn-based ethanol has accounted for the majority of the minimum amount of renewable fuels required by the RFS for fuel marketed in the US. It appears that allowing EV manufacturers to produce electric Renewable Identification Numbers — eRINs is now being taken into consideration (not to be confused with Karens).
According to two persons familiar with the strategy, “Tesla is pursuing amendments to the RFS that will allow it to earn renewable fuel credits, or eRINs, based on kilowatt hours driven or equivalent criteria.”
“The administration’s early and comprehensive outreach shows that one of Biden’s objectives in the fight against climate change is increasing the scope of the U.S. Renewable Fuel Standard (RFS) to make it a tool for electrifying the country’s automotive fleet.”
The RFS has already caused conflict between the oil and corn industries. Things will only become more heated if the car lobby is included. But has the moment arrived? Shouldn’t considerably cleaner and greener electric automobiles receive subsidies if corn ethanol has, although not actually deserving them?
Speaking at a conference in May, Maureen Walsh, director of federal policy for the American Biogas Council, stated, “We have heard via the grapevine that vehicle companies are really, really going to embrace this rule.” Perhaps it will make it easier for established automakers to switch to electric cars without going bankrupt.
The eRIN could be a mechanism to lower the cost of an EV and hasten the sector’s transition to decarbonization as transportation contributes 25% of US greenhouse gas emissions.
According to Reuters , “The EPA stated that it was consulting ‘all interested stakeholders’ in its RFS policy review.” By the end of the month, the proposal is anticipated to land on Joe Biden’s desk as the president of the United States. Keep checking back for updates on this.
Any initiative that encourages more individuals to purchase an electric vehicle is worthwhile. Observe this space.
Keep in mind that this has nothing to do with the Inflation Reduction Act of 2022, which contains a number of incentives for consumer electric vehicles as well as subsidies for the manufacture of batteries.
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