SRECTrade, a commodity management and transaction platform, has launched a California Low Carbon Fuel Standard (LCFS) Credit Calculator app.
The app is currently available on the Apple App Store for iPhone users. The app provides clean transportation fleet operators a valuable tool to calculate the estimated value from participating in the LCFS program.
Since its inception in 2008 SRECTrade’s goal has been to ensure that complex environmental commodity markets are transparent, equitable and accessible to all eligible parties. The LCFS Credit Calculator app not only gives participants a simple tool to evaluate the program for their specific fleet but also ensures an equitable market, in which participants are aware of the fair market value for their credits.
“We are excited to provide a first-of-its-kind technology tool that demonstrates the financial benefit of the LCFS program,” says Steven Eisenberg, CEO of SRECTrade.
“Clearly understanding this value is essential to the successful deployment and financial return on clean fuel assets,” he adds.
The calculator allows participants to estimate value for heavy-duty, light-duty and electric forklift credit generating assets across both electricity and compressed natural gas fuels. For electricity as a fuel, the app allows for the comparison of credit value and volume when pairing electric vehicle consumption with renewable electricity.
The California LCFS program, administered by the California Air Resources Board (CARB), aims to reduce the carbon intensity of transportation fuels by 20% by 2030. The program is a market-based mechanism where credits generated can be monetized to help facilitate the return on investment in low carbon vehicles and offset fuel and operational costs associated with the fleet.