In addition to the final rule approving crop residue as a cellulosic feedstock, the Environmental Protection Agency yesterday established a “voluntary quality assurance program” for renewable identification numbers, or RINs.
The program is designed to maintain liquidity in the market for RINs under the Renewable Fuel Standard (RFS) providing a means for ensuring that RINs are properly generated through audits of renewable fuel production conducted by independent third-parties using quality assurance plans (QAPs). According to EPA, the QAP is intended to improve RIN market liquidity and efficiency and improve the ability of smaller renewable fuel producers to sell their RINs.
Other provisions in the final rule regarding RINs include modifications to the exporter provisions of the RFS program to help ensure that an appropriate number and type of RINs are retired whenever
renewable fuel is exported.