A Renewable Identification Number (or RIN) is a serial number assigned to the volume of a batch of biofuel for the purpose of tracking its production, transfers, trading, and ultimate use or retirement. This is required by the U.S. EPA’s Renewable Fuel Standard (RFS) which was implemented as a result of the Energy Policy Act of 2005 and the Energy Independence and Security Act of 2007. Renewable identification numbers (RINs) are credits used for compliance and are the “currency” of the RFS program.
- Renewable fuel producers generate RINs
- Market participants trade RINs
- Obligated parties obtain and then ultimately retire RINs for compliance
RINs can be traded in two forms:
- Assigned RINs – directly associated with a batch of fuel and that travel with that batch of fuel from party to party. Purchasers obtain both renewable fuel and RINs together.
- Separated RINs – formerly assigned with a batch of fuel, but are no longer assigned to a batch. Purchase only the RIN.
Examples of typical RIN transactions include:
- Generate – when fuel is produced, a RIN is generated
- Buy – when an assigned/separated RIN is bought/traded by a buyer from a seller
- Sell – when an assigned/separated RIN is sold/traded by a seller to a buyer
- Separate – when a RIN is separated from the fuel to which it was originally assigned
- Retire – when a RIN is used to demonstrate compliance, or required to be retired for other purposes
Renewable energy and biochemical consulting firms like Lee Enterprises Consulting have experts in LCFS and RIN compliance and the many different regulatory specialties within the bioeconomy, including all types of biofuels and the RINS generated by these biofuels These alternative energy and energy consulting groups and their consultants have expertise in renewable fuels (ethanol, cellulosic ethanol, biodiesel, and synthetic diesel), renewable chemicals, renewable electricity, biomass energy, synthetic biology, biomass technologies (conventional and emerging), waste management, carbon-related matters (carbon accreditation, carbon capture, carbon credits), and in the many bioproducts produced. We have over 150 highly qualified experts available to assist in large and small projects. See a list of our experts and our services and areas of specialty. Feel free to call or email us for more information.