As of January 1, 2022, charging station operators in the province of British Columbia are eligible to participate in the BC Renewable and Low Carbon Fuels Requirements Regulation and Greenhouse Gas Reduction Act (“BC-LCFS”).
If you operate charging stations in a public, fleet, workplace, retail, hospitality, and multi-family residential (five or more dwelling units) location, you may be eligible to generate carbon credits under the BC-LCFS.
This means you can earn money for the charging services you provide at your charging station, which can help offset the cost of installing and operating EV Charging equipment.
ChargePoint has created a program called The Clean Fuels Program, which will allow charging station operators to turn kilowatt-hours (kWh) into dollars and leverage BC-LCFS cashflows to support and expand their charging network.
There are some considerations in terms of how the credits are generated, but generally the number of credits largely correlates with the kWh of charging; so, the more charging you provide each year, the more credits you can generate.
Credit prices are determined by supply and demand in the credit market, and prices do fluctuate.
In 2021 the credit prices ranged from $85-495 per credit, which roughly translates to 7.5-44 cents per kWh.
For example, let’s say your total daily kilowatt consumption is around 100 kWh (or 15 hours of active charging), and the Daily LCFS credit is approximately .35 cents/kw (chosen at random).
If we multiply the LCFS with the daily kilowatt consumption, on an average day you would earn a credit of approximately $35, giving you additional monthly revenue of approximately $1,050, before any deductions.
If you’re an existing ChargePoint customer that operates charging stations in BC (in all locations but except for residential or apartment/condos with less than 5 units) you can participate and enroll in ChargePoint’s Clean Fuels Program – and we can help you get started!