$2,600,000$2,400,000$2,200,000$2,000,000$1,800,000$1,600,000$1,400,000$1,200,000$1,000,000             2013   2014   2015 ...

$3,500,000$3,000,000$2,500,000$2,000,000$1,500,000$1,000,000             2013   2014   2015   2016   2017   2018   2019   ...

Promoting the Use of Biogas   O   167 Members from the U.S., Germany, Italy, Canada and the UK   O   All Industry Sectors ...
Changing the Biogas Industry through:  o Legislative and Regulatory Affairs:        o Federal: Biogas Tax Credit; Clean En...
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets
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Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets

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  • 5,000 cow diary digester10 year IRR$11.05 Capital CostRevenues from sale of transportation fuel, tipping fees, nutrients, bedding, and environmental markets.
  • Credits – 17,500 credits/yearPrice Floor – $7 in 2013, $11 in 2020ARB Economic Analysis - $13 in 2013, $20 in 2020Point Carbon Modeling - $9 in 2013, $36 in 2020
  • May 2012 through March 2013, the lowest recorded price was $0.29/RIN and the highest price was $1.07/RIN -- with an average price of $0.52/RIN.
  • Credits ~ 82,000 MMBTUs of biomethane/year = 1.06 million RINs/yearLow - $0.20Medium - $0.49High - $0.72
  • From Jan. 2013 to present = steady climb to $40/mtco2e
  • Credits – 7,300 in 2013 to 6,500 in 2020 Current = $38CEC Projection = 2013 is $39, 2022 is $200Price Ceiling = $200
  • Take away:Environmental markets have a major impact on project financials.Demand (how much credits must be purchased) and supply (what qualifies as a credit) are determined by policy.Environmental market revenues are not bankable.Projects must be financiable without them, but aware of potential value especially when negotiating contracts that may or may not take ownership of the attributes.
  • Biocycle 2013 Presentation - Low Carbon Fuel Standard, Renewable Identification Numbers and Carbon Markets

    1. 1. $2,600,000$2,400,000$2,200,000$2,000,000$1,800,000$1,600,000$1,400,000$1,200,000$1,000,000 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
    2. 2.
    3. 3. $3,500,000$3,000,000$2,500,000$2,000,000$1,500,000$1,000,000 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
    4. 4.
    5. 5. Promoting the Use of Biogas O 167 Members from the U.S., Germany, Italy, Canada and the UK O All Industry Sectors Represented Key Industry Goals: O Promote biogas markets, technologies and infrastructure O Achieve policy parity O Promote as a best practice for environmental stewardship and greenhouse gas reductionwww.americanbiogascouncil.org
    6. 6. Changing the Biogas Industry through: o Legislative and Regulatory Affairs: o Federal: Biogas Tax Credit; Clean Energy Standard; NAT GAS Act; Farm Bill o Introduction of Biogas Investment Tax Credit (Rep. Kind and Rep Lewis) o States: California, Massachusetts, Wisconsin, more o Sharing Expertise: o 4 Specialized Working Groups o Marketing and Education: o Briefings, presentations, and webinars for customers, policy makers, and the general public o Member Exposure o Speaking opportunities in ABC workshops, webinars o Large Industry Network – 6,000+ member company contacts o Entire supply chain of production, processing and use Join Today! Contact Josh Lieberman at jlieberman@ttcorp.com or 202-640-6595 x 322

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