California’s Low Carbon Fuel Standard (LCFS) credit bank reached an all-time high of 29.19 million at the end of the second quarter 2024, according to data released by California’s Air Resource Board (CARB) on October 31.
Biodiesel and renewable diesel (RD) played a noticeable role in the credit increase, with adoption of the two fuels rising from 0.40% of the distillate volume to 74.2% of the volume halfway through 2024.
RD consumption has risen every year and currently accounts for 67% of the distillate market share.
Biodiesel consumption peaked at 7.7% in 2021, tapering off to a 7.4% market share in 2023, and has been 7.2% through the second quarter of 2024.
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