The State of Washington has adopted their Clean Fuel Standard (CFS) Rule and is on track to role out the program in January 2023!
The rule adoption culminates a multi-year process to implement a fuel program that will lead to decarbonization and lower greenhouse gas emissions in the state. The CFS program is modelled on neighboring California’s Low Carbon Fuel Standard and Oregon’s Clean Fuel Program. Here is what you need to know to make the most of this opportunity.
“The Clean Fuel Standard will spur economic development, and will increase availability and affordability of low carbon fuels.”
Washington Dept of Ecology
Create Revenue from electric equipment and vehicle chargers
The CFS is an opportunity for electric fleet owners and EV charger owners to create revenue from their investments. Equipment eligible to generate credits under the CFS includes
- Electric forklifts,
- EV Chargers: employee car chargers, fleet vehicle chargers, chargers at multifamily residences,
- Electric Municipal Service Vehicles (Refuse Trucks, School Buses, Transit)
- Electric yard trucks, gantry cranes, and commercial off-road vehicles
- and more!
PineSpire is here to help you navigate the process and handle everything for you – from Registration to Revenue.
Start generating credits in the New Year (Jan 2023)
The Department of Ecology has laid out implementation plans for the program infrastructure. The timeline will allow entities to start generating credits as early as Q1 2023. PineSpire is ready to sign you up for these credits and inventory your fleet so you don’t miss out. The CFS will have an ‘initial compliance period’ through the end of 2024, but parties will be able to create, accumulate, and sell credits during this period. PineSpire is closely watching how the CFS credit market matures and brings strategy and expertise to credit trading, so you know you’ll recieve the most revenue.
Get Started with PineSpire
Our expert team can answer any questions about the program and explain the steps to create revenue. Have facilities in multiple states? No problem, we can enroll your California, Oregon and Washington operations under one simple agreement and provide 24/7 access to your fleet information through our PS2 Dashboard. Reach out to us to discuss your fleet, chargers and operations.