Renewable Fuels Standard (RFS)
Renewable Fuels Standard
John Quinney, Energy Co-op of Vermont
A renewable fuels standard would require Vermont’s fuel industry to increasingly sell biofuels (for heating oil, propane, and natural gas) and biomass to offset the amount of fossil fuels we burn, eventually achieving 90% biofuels by 2050.
Similar to a “renewable energy standard” (RES) that requires increasing the mix of renewable sources on the electric grid, a “renewable fuels standard” (RFS) would impose a similar requirement on the fossil fuels industry. Biofuels and biomass are recognized as renewable fuels in Vermont’s Renewable Energy Standard (Act 56 of 2015), and the fuel dealers and their regional and national organizations have embraced biofuels as a way to move off of fossil fuels. Vermont should establish an increasing standard of biofuels as a percentage of all fuels delivered in Vermont going forward. Define “renewable fuels” to include liquid biofuels, biogas, biopropane and wood products. Establish a baseline year from which to increase market share of renewable fuels and then measure compliance at the statewide level. Establish a non-compliance penalty that would fund incentives (through the CEDF) for efficient and renewable-fired equipment. Allow the market and Vermont Fuel Dealers Association to innovate to determine the best means of implementing, but establish an Alternative Compliance Payment (ACP) mechanism similar to the RES as an incentive for compliance. Consider establishing a seat on the CEDF board for a fuel dealer representative to help direct use of these funds.
Submitted by: Submitted by Richard Faesy & Dan Mellinger, Energy Futures Group
EAN Pitch 24 - EFG #3 Renewable Fuels Standard.output
Pitched by John Quinney, Energy Coop of Vermont