added, since SRECTrade (and other entities doing similar work) is paid only through the revenue from the carbon credits. “If you are already running electric vehicles, the best time to get started with this program is now,” Iman Nordin, SRECTrade manager of client development, said during the webinar. “Because if you don’t participate in this program and you don’t monetize your credits, you’re essentially leaving money on the table that could go into your budget.” Nordin noted that tapping separate renewable en-
ergy credit markets to collect more credits under the LCFS program involves a “complex mechanism” that she opined is best managed by a third-party expert, not individual districts. But the process can be lucrative, adding 10- to 30-percent more credits and the associat- ed revenue. Davar said entities like The Mobility House are still
figuring out exactly how to work with clients on LCFS deals, for example how much commission to take for managing such accounts. “Whenever you see something along the lines of free money, there will be someone going after it,” he added. “There are competitors out there, it’s kind of the Wild West.” Under the LCFS, funds collected for the carbon credits
must be used toward carbon emissions reduction. “Any revenues received have to be reinvested in elec-
trification for transportation in some way, when school districts participate,” GNA’s Johnstone explained. “There are a handful of ways recipients can do that — buying vehicles or charging equipment, workforce training, and administration of participating in LCFS can also be covered.” Nordin noted that alongside electric, compressed nat-
ural gas, renewable natural gas, biofuels, and hydrogen fuels can also receive credits under the program. But buses powered by natural gas and other low-car-
bon fuels do not directly allow a district to receive carbon credits. Instead, the natural gas supplier can potentially earn credits and pass some of the benefit on to the district in the form of lower fuel costs, Johnstone explained. “With fossil natural gas, or CNG, many fleets will invest in their own fueling stations, and in that case they are the credit generator,” added Johnstone. “So, these fleets can participate, but the carbon intensity improvement over diesel is negligible, and for other reasons involving more math, the returns from the LCFS are really quite small compared to what they are with [electric buses].” While California’s LCFS is the “pioneering” clean fuels
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