California LCFS Credit Bank Expands to All-Time High of 16.5 Million Credits
California’s LCFS RIN bank climbed to a new record high of 16.5 million banked credits. Credit production reached 6.67 million, 6.5 percent below Q4 2022’s total of 7.13 million credits. Program deficits amounted to 5.33 million, 2.7 percent under Q4 2022 production of 5.48 million. There were 1.34 million more credits created than deficits during the first quarter, allowing the bank to expand to the new all-time high.
Renewable diesel continued to be the fuel of choice for credit generation within the LCFS program, accounting for 37.6 percent, or 2.5 million, of the credit total. Notably, renewable diesel also accounted for 10 percent of all the liquid fuel consumed in California during the quarter. This includes all gasoline and diesel.
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