Archive for March, 2025

Virginia RPS Bill Update: Potential Impact on the SREC Market 

Posted March 31st, 2025 by SRECTrade.

In March, the Virginia Legislature has been working on a bill (HB1883) to amend the state Renewable Energy Portfolio Standard (RPS) program requirements. The bill passed in the House and Senate, and last week, Governor Youngkin returned the bill with substitutions to be reviewed and approved. 

What was in the original bill? 

Here are the key amendments made to the Virginia RPS that impact the SREC market: 

  • Utilities were originally required to source 75% of the REC requirement from in-state sources starting in 2025. This bill pushed that requirement to start in the 2027 compliance year. 
  • The carve-out for solar, wind, and anaerobic digestion resources was increased from 1% to 3% in 2026, 5% in 2028, with an ongoing three-year assessment by the Commission to begin with the 2029 – 2031 compliance years, based on the availability of RECs and future market expansion. 
  • The maximum size of a project at a single location, owned by a single entity, was increased from 1 MW to 3 MW. 

What are the governor’s proposed substitutions? 

In his substitutions, the governor made the following sweeping change: 

  • There will be no requirement to procure and retire RECs for RPS compliance from 2024 to 2027. 

What to expect next: 

Since the governor returned the bill without signature, the legislature will now have the opportunity to reject or accept his changes. Should the amendments be rejected, the governor will again have the opportunity to veto the bill. 

  • If the bill is vetoed, the RPS will remain as is, with the in-state requirement of 75% beginning in 2025, and the carve-out remaining at 1%. 
  • If the amendments are accepted, there would be no requirement to procure RECs until 2028, changing the market in those years from compliance to voluntary, effectively eliminating a REC market in VA until 2028.  

As the legislature deliberates the governor’s amendments, SRECTrade and other stakeholders in the renewable energy sector are closely monitoring the implications for the state’s SREC market. The resolution of these amendments will shape the trajectory of Virginia’s renewable energy landscape, influencing both short-term strategies and long-term goals for sustainable growth and compliance. 

Metering Deep Dive: AC Metering at Electrical Panel

Posted March 25th, 2025 by SRECTrade.

Understanding the Requirements and Solutions 

As the demand for measuring energy consumption increases, particularly with the need to participate in the California Low Carbon Fuel Standard (LCFS), it has become imperative to explore advanced metering solutions. This blog post delves into the intricacies of AC metering for forklifts, offering insights into compliance and best practices. 

Why AC Metering Matters 

Forklift chargers primarily rely on three-phase power, which necessitates accurate measurement of energy consumption. To achieve this, a current transformer is required for each phase to monitor the current effectively. This precision is crucial for adhering to regulatory requirements and optimizing energy usage. 

Types of Meters and Their Capabilities 

The market offers a variety of meters, each with distinct capabilities: 

  • Multi-Item Meters: Meters like the eGauge can handle the metering of multiple items through a single device, making them ideal for comprehensive energy monitoring. 
  • Single-Item Meters: Other meters, such as the EKM, are designed to meter one item per device, providing focused and precise measurements. 

Voltage References

For each deployed meter, it’s required to have voltage references to measure the voltage accurately and power the meter. This step ensures the reliability and consistency of the data collected, which is crucial for making informed decisions about energy management. 

Optimizing Metering Solutions 

The most efficient metering strategy involves metering multiple forklift chargers at a single point: 

  • Single Point Metering: If an electrical panel serves multiple forklifts exclusively, it’s possible to meter at a single point within the panel. This approach simplifies the process and reduces costs. 
  • Branch Circuit Metering: When other items share the electrical panel with forklift chargers, each branch circuit with a charger must be metered individually. While this method provides detailed data, it can be more expensive. 

Cost Considerations 

Individually metering each forklift charger can become prohibitively expensive. Therefore, assessing the specific needs and configuration of your facility is crucial in choosing the most cost-effective metering solution. 

Turn-Key Metering Solutions 

For those seeking bespoke solutions, Anvil Monitor offers comprehensive services to deploy custom AC metering systems. Their expertise ensures that your metering setup is tailored to your unique requirements, providing accurate and reliable data. 

Next Steps

Reach out to your account executive at SRECTrade to learn more about how to implement effective AC metering solutions for your forklifts and stay compliant with the LCFS requirements. 

The timeline below will help you prepare for these upcoming changes: 

SREC Forklift Metering Customer Timeline:  

  • Q1 – 2025: Review metering options for your specific fleet  
  • Q2 – 2025: Install pilot project and/or make technology decision  
  • Q3 – 2025: Purchase and install metering solution   
  • Q4 – 2025: Ensure metering is reporting accurately and operating as expected 

Please reach out to your SRECTrade account executive with any questions.   

Metering Deep Dive: Anvil Remote Energy Monitors

Posted March 25th, 2025 by SRECTrade.

Simple Forklift Charging Monitoring with Real-time Analytics and Easy Installation 

Are you looking for the most cost-effective way to monetize your forklift charging while contributing to clean energy initiatives? Anvil Monitor’s Remote Energy Monitors (REM) offer the perfect solution. By leveraging cutting-edge technology, Anvil Monitor enables businesses to track, report, and capitalize on energy usage from electric forklift charging, unlocking new revenue opportunities through clean fuel program incentives. 

Anvil Monitor 

At Anvil Monitor, their mission is to deliver advanced monitoring solutions that track energy usage from forklift charging, enabling participation in clean fuel programs. Anvil’s REM technology allows companies to monitor and report electric forklift energy usage effortlessly, unlocking new revenue streams through incentives offered by clean fuel programs. 

Eligible Markets 

Anvil Monitor’s REM technology can benefit businesses across various regions with clean fuel programs, including: 

  • California: Low Carbon Fuel Standard (LCFS) 
  • Oregon: Clean Fuels Program (CFP) 
  • Washington: Clean Fuel Standard (CFS) 
  • Canada: Clean Fuel Regulation (CFR) 

REM Highlights 

Anvil Remote Energy Monitors offer several key features that make them indispensable for businesses aiming to optimize their energy usage and participate in clean fuel programs: 

  • Seamless Installation: Quick and simple installation of Anvil REMs ensures minimal disruption to your operations. 
  • Real-time Analytics: Monitor energy usage in real-time and report it for clean fuel programs with ease. 
  • Live Cloud Platform: Access your data anywhere through our intuitive web-based dashboard. 
  • Warranty: A one-year manufacturer warranty from the date of delivery ensures peace of mind. 

Technical Specifications 

Anvil’s REM technology is designed to track the energy (in kWh) used by each registered electric vehicle from the DC side of the forklift charger. Here are the key technical specifications: 

  • Wi-Fi: 802.11b/g/n 
  • Range: up to 200 meters (CLOS) 
  • Sensing & Operating Voltage: 10-80+VDC 
  • Current Sensing Range: 400A 
  • Size: L 3.64in x W 2.36in x H 1.10in (similar to the size of a deck of cards) 

Timeline for Implementation 

To ensure a smooth transition and optimal results, we provide a detailed implementation timeline: 

  • Q2-2025: Implement a pilot project to verify energy consumption and test the product if necessary 
  • Q3-2025: Order and install REMs 
  • Q4-2025: Verify REMs are operational and troubleshoot as needed 
  • Q1-2026: Report energy usage and earn revenue! 

Deadline to have monitoring installed: January 1, 2026 

Next Steps 

Anvil Monitor’s REM technology is poised to revolutionize forklift charging, offering businesses a seamless solution to monitor energy usage and participate in clean fuel programs. By implementing REMs, companies can unlock new revenue opportunities while contributing to a cleaner, more sustainable future. 

Stay tuned for more updates and ensure your company is ready for the upcoming changes in clean fuel regulations. Reach out to us at sales@anvilmonitor.com and visit their website at www.anvilmonitor.com for more information. 

Metering Deep Dive: Smart Technology

Posted March 25th, 2025 by SRECTrade.

How Technological Advancements Can Ease Compliance 

The California Low Carbon Fuel Standard (LCFS) program aims to reduce greenhouse gas emissions, and to continue benefiting from forklifts, businesses must now monitor their energy usage. Forklift fleets, a crucial part of many industries, can benefit significantly from smart charging solutions to meet these requirements. 

Advantages of Smart Batteries and Chargers 

Smart batteries and chargers offer a range of benefits, including energy monitoring, efficiency, and remote data reporting. With technological advancements, upgrading to these new batteries and chargers can provide accurate energy usage data, essential for compliance with LCFS. 

Efficiency and Data Reporting 

Modern smart chargers, such as ECOTec, are designed to be more efficient than traditional chargers. They offer options to push data to the cloud, allowing remote monitoring of energy consumption. This feature is particularly useful for businesses aiming to keep LCFS dollars flowing. 

Upgrading Your Equipment 

While upgrading to new equipment can be costly, it is a worthwhile investment for businesses planning to enhance their fleets. Smart chargers and lithium batteries provide a robust solution for both efficient charging and comprehensive energy usage reporting. By connecting these devices to the internet, businesses can easily pull and analyze energy data. 

Telematics for Forklifts 

If you’re already considering telematics for your fleet, then it offers a practical solution for tracking energy usage. Some technology allows for real-time monitoring and reporting, ensuring that businesses can comply with LCFS requirements without significant financial investment. 

Next Steps 

Smart charging solutions, whether through new batteries or chargers or telematics, provide an effective way to meet the California LCFS program’s energy monitoring requirements. By adopting these technologies, businesses can ensure they continue to benefit from the program while contributing to the reduction of greenhouse gas emissions. 

The timeline below will help you prepare for these upcoming changes: 

SREC Forklift Metering Customer Timeline:  

  • Q1 – 2025: Review metering options for your specific fleet  
  • Q2 – 2025: Install pilot project and/or make technology decision  
  • Q3 – 2025: Purchase and install metering solution   
  • Q4 – 2025: Ensure metering is reporting accurately and operating as expected 

Consider upgrading your fleet or integrating smart technology to keep your LCFS dollars flowing. Please reach out to your SRECTrade account executive with any questions.  

Important Update on LCFS Regulation Amendments

Posted March 4th, 2025 by SRECTrade.

Introduction: The California Air Resources Board (CARB) has recently issued a notice regarding the disapproval of amendments to the Low Carbon Fuel Standard (LCFS) Regulation by the Office of Administrative Law (OAL). This decision has significant implications for market participants and the public. In this blog post, we will provide an overview of the notice, its impact on the market, and the next steps for CARB.

Overview of the Notice: On February 18, 2025, the OAL disapproved the amendments to the LCFS Regulation that CARB had approved for adoption at a hearing on November 8, 2024[1]. The OAL identified inconsistencies with the clarity standard in Government Code section 11349(c) as the reason for the disapproval[1]. CARB plans to address these concerns and resubmit the amendments within 120 days[1].

Impact on the Market: The disapproval of the LCFS amendments has already had a noticeable impact on the market. According to recent reports, the market experienced a significant drop, with prices falling by $17. This decline reflects the uncertainty and potential challenges that market participants may face as CARB works to address the issues raised by the OAL.

Next Steps for CARB:CARB will continue to implement the current version of the LCFS Regulation, which has been in effect since July 2020, while addressing the concerns raised by the OAL[1]. CARB staff plan to rewrite and resubmit the amendments, incorporating any necessary grammatical and non-substantial changes[1]. Any substantive modifications will be released for public comment, ensuring transparency and stakeholder engagement throughout the process[1].

Conclusion: The recent notice from CARB highlights the ongoing efforts to refine and improve the LCFS Regulation. While the disapproval of the amendments presents challenges, it also provides an opportunity for CARB to address concerns and strengthen the regulation. We will continue to monitor the situation and provide updates as more information becomes available. It is unclear at this point if it will effect the implementation for the 2025 CI Changes.

Call to Action: If you have any questions or need assistance, please feel free to contact our team at SRECTrade.


References

[1] Information Regarding Low Carbon Fuel Standard Regulation Updates