How to Generate LCFS Credits from Electric Lifts
February 18, 2021
Perhaps you’ve purchased electric lifts for your fleet, but have you taken advantage of California’s Low Carbon Fuel Standard (LCFS) to benefit financially – simply for using those lifts? The LCFS enables organizations across the state to generate revenue by using non-fossil fuel products within their transportation-related operations. So, by choosing electric, you can get paid. See how in three simple steps you can be on the path to credit generation.
Step 1 – Collect Lift Details
The first step is baselining your inventory. Gathering details such as the type of electric lift, manufacturing year, serial number and battery size are all necessary components to become a registered entity recognized by California Air Resources Board (CARB) – and, ultimately generate LCFS credits.
Step 2 – Report Lift Usage
Next, you must record usage related to each electric lift. Typically, you’ll need to address how your lifts operate by indicating how often they’re used and charged. Of course, this data could be estimated, but it’s best to rely on actuals verses estimates to properly report usage to CARB and generate the appropriate number of LCFS credits. The LCFS program is closely monitored and organizations must know that a future audit of records could occur. Working with organizations tenured in the LCFS like U.S. Gain will significantly reduce risk associated with misreporting.
Step 3 – Provide Charger Details
After fleet data is gathered and usage recorded, you’re almost ready to start generating LCFS credits. The last piece of information needed is charger details. Understanding the amount and type of chargers at each location (inclusive of brand, model and year) is critical to accurately calculate how many credits your fleet of e-lifts can generate.
Once you have the above details, calculation of credit potential and values can occur. The complexity that happens behind the scenes to formally generate and monetize credits can be handled by an experienced partner, like U.S. Gain. We’ll manage, streamline and optimize the entire credit generation process for you – providing transparency along the way.
Whether your fleet consists primarily of e-lifts, ranging from forklifts (riders, reach trucks, order pickers, side loaders, pallet jacks and beyond), to scissor lifts, boom lifts, container handlers and more, or extends to include on-road vehicles consuming electric, hydrogen, renewable natural gas, renewable diesel, biodiesel or propane, we can help you generate and monetize LCFS credits for all applications.
Stay tuned as our next blog in this series highlights how your e-lift fleet can generate additional credits through simple modifications to your operations. Until then, reach out to learn more about the revenue potential your e-lift fleet can generate – starting today!