Renewable fuel RIN production climbed 11 percent in 2023, largely powered by surging D4 biomass-based diesel blending. The Renewable Fuel Standard has mandated volumes for total renewable fuel, advanced biofuel, biomass-based diesel (BBD), and cellulosic biofuel, and an implied mandate for conventional renewable fuel.
Total 2023 renewable fuel RIN production reached 23.7 billion, according to Environmental Protection Agency (EPA) EMTS blending data. This was 11 percent above 2022 RIN production. Fourth quarter blending reached 6.3 billion RINs, 10 percent over Q4 2022 and five percent above third quarter 2023.
The sizable increase in RINs was not evenly split among the mandated categories. The implied conventional mandate was expected to produce 72 percent of total RINs, BBD 22 percent, cellulosic four percent, and the undifferentiated portion of the advanced mandate approximately one percent.
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Fastmarkets' research team...