Recommended
Recommended
More Related Content
What's hot
What's hot (16)
Similar to Vermont's Renewable Fuels Standard (RFS) explained
Similar to Vermont's Renewable Fuels Standard (RFS) explained (20)
More from EAN-VT
More from EAN-VT (19)
Recently uploaded
Recently uploaded (20)
Vermont's Renewable Fuels Standard (RFS) explained
- 1. Renewable Fuels Standard (RFS) John Quinney, Energy Co-op of Vermont November 8, 2017
- 2. What is a Renewable Fuels Standard (RFS)? • Vermont electric utilities have a “renewable energy standard” • 55% renewables in 2017, increasing to 75% by 2032 • Vermont’s Renewable Energy Standard (Act 56 of 2015 ) recognizes “biofuels” and “biomass” as contributors to the state’s renewable energy goals • A RFS would require fossil fuel businesses to increasingly sell more biofuels and biomass • Fuel Dealers • Vermont Gas
- 3. Why a RFS? • Vermont burns annually: • 100 million gallons of heating oil • 91 million gallons of propane • 12,100 mcf of natural gas • A RFS would increasingly replace fossil fuels with: • BioHeat – biodiesel/heating oil blends • Bio natural and propane gas • Wood and wood pellets • Requires no new taxes or fees • Stimulates market innovation and the local forest economy • Fuel dealers have started down the biofuels path
- 4. How would an RFS work? • Impose RFS standards on the fuel delivery industry and Vermont Gas 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2017 2020 2025 2030 2035 2040 2045 2050 Renewable Fuels Standard Targets Oilheat Propane Diesel Natural Gas
- 5. Implementation of a RFS • Establish targets for each industry • Each industry determines how best to achieve their targets • Develop an Alternative Compliance Payment (ACP) mechanism for non- compliance • Non-compliance fees could go to CEDF to administer renewable programs
Editor's Notes
- Good Morning. I’m the General manager of the Energy Co-op of Vermont. The Co-op is a full-service fuel dealer based in Colchester. We deliver fossil fuels to about 2,500 members and customers primarily in northwester Vermont. We maintain replace and repair a wide range of oil and gas fired home heating systems. We also help our members cut their fossil fuel use. We install cold-climate heat pumps and residential energy upgrades. I would like to identify two individuals in the audience who are especially well qualified to speak on renewable fuels: Peter Bourne of Bournes Energy Matt Cota, Vermont Fuel Dealers Association
- A Renewable Fuels Standard – or RFS – is analogous to the Renewable Energy Standard required of Vermont’s electric utilities. The targets are 55% renewables this year, rising to 75% by 2032. “Biofuels” and “Biomass” are recognized in Act 56 as renewables that contribute to the state’s renewable energy goals – including Tier 3 requirements A Renewable Fuels Standard would require Vermont’s fuel dealers and Vermont Gas to steadily increase the renewables content in the propane, heating oil, kerosene and natural gas they supply.
- Why do we need a Renewable Fuels Standard? Each year, we burn: 100 million gallons of heating oil 91 million gallons of propane, and 12,100 mcf of natural gas Generating almost 30% of Vermont’s greenhouse gas emissions Under a Renewable Fuels Standard, fossil fuels would steadily be replaced with: BioHeat – Blends of up to 20% biodiesel/heating oil are viable – right now Methane from farm digesters - marketed as renewable natural gas Wood. Vermonter’s burn about 350,000 cords of wood and 125,000 tons of wood pellets a year The transition to renewable heating fuels would require no new taxes or fees Would stimulate innovation and our forest economy Several fuel dealers – like Bourne’s Energy - are already delivering BioHeat blends.
- The Renewable Fuel Standard would be aligned with the Vermont’s energy plan By 2050, 90% of the heating fuels sold in Vermont would be renewable.
- Implementation The process starts by setting renewables targets for each industry Each industry then determines how best to reach those targets Businesses that choose not to meet the targets would be required to make Alternative Compliance Payments. These fees could be used by the Clean Energy Development Fund to support the transition to renewable fuels Thank you.