As a partner in the Volvo LIGHTS program, Dependable has adopted a fleet of electric yard tractors, Class-8 electric trucks, electric forklifts and light-duty charging stations to demonstrate the logistical and financial feasibility of transportation electrification in the 3PL industry. The electric fleet has been deployed at a variety of Dependable facilities in the Southern California region.
As part of Dependable’s transition to a clean fuel fleet, SRECTrade is leading the company’s efforts to manage and maintain its portfolio of California Low Carbon Fuel Standard (LCFS) credit generating assets. The LCFS credits are monetized to help facilitate the return on investment in the low carbon vehicles and offset fuel and operational costs associated with the fleet. By pairing Dependable’s electricity consumption with renewable energy, the company has been able to generate additional quarterly incentive revenue equivalent to approximately $0.25 per kWh.
“The California Low Carbon Fuel Standard market has been a great incentive to drive us to seriously consider and adopt electricity as a fuel as a viable option for our fleet operations,” says Troy Musgrave director of process improvement at Dependable.
“Working with SRECTrade has allowed us to easily navigate the complexities of managing our LCFS credits and earn more value by powering our fleet with renewable electricity,” he adds.
In addition to electrifying its fleet, Dependable is developing an on-site solar energy facility to power its expanding fleet of EV assets. Investing in on-site renewable generating capacity will further demonstrate grid independence and mitigate energy costs. Currently, Dependable’s renewable electricity is sourced from California-sited solar and wind energy projects. Once their on-site solar project has been completed, the portfolio will transition to a mix of California-based renewable electricity and on-site solar electricity.