Are electric vehicles or equipment that I already own still eligible?
Yes! Your existing equipment as well as newly acquired equipment can all be covered in one PineSpire agreement.
How will the energy use be measured on my electric vehicles or equipment?
PineSpire will work to find the most cost-effective solution for your fleet. Forklfits can be measured using a calculatoin that PineSpire will tailor to your equipment and operations. For other EVs, PineSpire will install our preferred metering solution on the EV charging devices. See Data and Analytics for more meter information. We will finance any meter installations out of your LCFS Credit proceeds, so there is no capital cost to you.
When will I receive LCFS incentive payments?
PineSpire will issue monthly payments to you along with a monthly energy usage report.
There is an initial registration period of 3 to 6 months, depending on when in the LCFS cycle you enroll, during which we will register all of your eligible electric equipment with CARB and submit the first quarterly credit generation report. After the initial registration period, your payments will begin. Ultimately, the sooner your vehicles are registered, the sooner we can ensure your energy is generating credits.
Note that for tax purposes, LCFS payments from PineSpire are treated like any other revenue to your business and are taxable per your organizations tax liabilities.
Tell me more about PineSpire's Guaranteed Rate?
PineSpire offers our customers a Guaranteed Rate ($/kWh) for each vehicle class. Our rate stays the same over the entire agreement term, providing our customers security in knowing the value they will earn for their charging. PineSpire takes on the credit pricing risk of LCFS marketplace and mitigates risk through our strategic financial planning built on our expertise in market trading and hedging.
What's the Catch?
There is no catch. PineSpire is here to pay our customers and participate in a win-win LCFS market. We help you claim money that is being left on the table due to the complexities of LCFS credits. Working with PineSpire leverages our LCFS expertise to provide you real revenue.
What differentiates PineSpire's services?
1) Guaranteed LCFS Incentive Rate: No risk and no worry for our customers
How does the LCFS Market Work? Who buys the Credits?
The LCFS market is relatively complex and benefits from having a specialized partner, like Pinespire, to create, enhance, and monetize your credits in the marketplace.
In a nutshell, the LCFS Regulation sets a carbon target for transportation fuel. Producers of traditional high-carbon fuel (diesel, gasoline, etc.) have a deficit because their fuel does not meet the carbon standard. Users of low-carbon fuel (electric [forklifts, vehicles]) create credits. The companies with the Deficits buy Credits to bring them into compliance with the required carbon target. Selling your LCFS Credits creates a recurring revenue stream for your existing EVs and new ones.
The value of an LCFS credit (in Dollars per Metric Ton of Carbon ($/Mt)) is determined in the marketplace based on supply of credits and demand of high-carbon fuel producers.
How do CARB's new vehicle emissions regulations affect me?
What is PineSpire's Role?
We manage everything from your initial fleet inventory through to ensuring you recieve monthly payments.
What types of Fuel sources are Eligible?
Electricity is the most commonly used eligible fuel. Electricity can be supplied from the grid, from renewable energy sources (like solar), or even from hydrogen fuel cells.