What is a RIN
A Renewable Identification Number (RIN) is a serial number assigned to biofuel batches used to track its production, use, and trading activity. RINs are required by the United States Environmental Protection Agency under the Renewable Fuel Standard (RFS) program. RINs are credits used for compliance, and are the currency of the RFS program. The RFS program is an initiative created by Congress to reduce the emissions of greenhouse gases in efforts to expand the nations renewable fuels sector. The most imperative part of the program is to reduce the reliance on imported oil. RINs were established and authorized by the government in 2005 under the Energy Policy Act. By 2007, RINS expanded to many different companies and industries …show more content…
The Clean Air Act was formulated to control the air pollution on a national level through governmental regulations. In order to jumpstart their initiative, the EPA collaborated with the U.S. Department of Agriculture and the Department of Energy. This policy requires a certain volume of renewable fuel must be replaced, meaning that stores must reduce the quantity of petroleum-based transportation fuel, heating oil or jet fuel. The four renewable fuel categories under the program are: biomass-based diesel, cellulosic biofuel, advanced biofuel, and total renewable fuel. As stated earlier, the Energy Independence and Security Act increased the size of the program but it also implemented many changes that the EPA still benefits from today. Some of the changes were: boosting the long-term goals to 36 billion gallons of renewable fuel, extending yearly volume requirements out to 2022, adding explicit definitions for renewable fuels to qualify, and creating grandfathering allowances for volumes from certain existing facilities. (EPA …show more content…
A renewable fuel must be recognized and therefore assigned a RIN. Once a RIN is assigned it becomes labeled an attached RIN. The next part involves the renewable fuel being combined with non-renewable fuel through a blender. At this stage the RIN becomes separated due to the fuel blending. Beyond this point a RIN becomes retired. However, in terms of the non-renewable fuel, that is assigned RVO. Renewable Volume Obligations (RVO) are the mechanisms the EPA uses to implement the RFS program. RVOs are the targets for each refiner or importer of petroleum-based gasoline or diesel fuel, while RINs allow for flexibility in how each of them may choose to comply. (EPA
A Renewable Identification Number (RIN) is a serial number assigned to biofuel batches used to track its production, use, and trading activity. RINs are required by the United States Environmental Protection Agency under the Renewable Fuel Standard (RFS) program. RINs are credits used for compliance, and are the currency of the RFS program. The RFS program is an initiative created by Congress to reduce the emissions of greenhouse gases in efforts to expand the nations renewable fuels sector. The most imperative part of the program is to reduce the reliance on imported oil. RINs were established and authorized by the government in 2005 under the Energy Policy Act. By 2007, RINS expanded to many different companies and industries …show more content…
The Clean Air Act was formulated to control the air pollution on a national level through governmental regulations. In order to jumpstart their initiative, the EPA collaborated with the U.S. Department of Agriculture and the Department of Energy. This policy requires a certain volume of renewable fuel must be replaced, meaning that stores must reduce the quantity of petroleum-based transportation fuel, heating oil or jet fuel. The four renewable fuel categories under the program are: biomass-based diesel, cellulosic biofuel, advanced biofuel, and total renewable fuel. As stated earlier, the Energy Independence and Security Act increased the size of the program but it also implemented many changes that the EPA still benefits from today. Some of the changes were: boosting the long-term goals to 36 billion gallons of renewable fuel, extending yearly volume requirements out to 2022, adding explicit definitions for renewable fuels to qualify, and creating grandfathering allowances for volumes from certain existing facilities. (EPA …show more content…
A renewable fuel must be recognized and therefore assigned a RIN. Once a RIN is assigned it becomes labeled an attached RIN. The next part involves the renewable fuel being combined with non-renewable fuel through a blender. At this stage the RIN becomes separated due to the fuel blending. Beyond this point a RIN becomes retired. However, in terms of the non-renewable fuel, that is assigned RVO. Renewable Volume Obligations (RVO) are the mechanisms the EPA uses to implement the RFS program. RVOs are the targets for each refiner or importer of petroleum-based gasoline or diesel fuel, while RINs allow for flexibility in how each of them may choose to comply. (EPA