Renewable Identification Number (RIN) generation has been strong during the first quarter of 2024. The original 2024 mandate was based on fuel assumptions that have since changed. The original mandate for total renewable fuel production was 21.54 billion gallons, but the Energy Information Administration’s (EIA) most recent fuel assumptions have increased, raising the total renewable fuel estimate to 21.58 billion RINs.
The other mandated categories have increased based on the larger fuel consumption figures. Total renewable fuel blending, based on April EIA estimates, is 42 million gallons above the original forecast.
The fuel categories are expressed as ethanol-equivalent on an energy content basis, except biomass-based diesel (BBD), which is biodiesel-equivalent. Converting the biodiesel gallon figure to its RIN equivalent comes to 4.874 billion RINs for 2024 (3.046 x 1.6).
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12.27.2024
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