It’s a very different environment today than it was just a few weeks ago. The Coronavirus (COVID-19) crisis has many businesses worried about finances, the future, or, most likely, both. Thinking outside the box is critical to stay afloat during these difficult times.
To help you find money to bolster your budget, we want to make you aware of a program offered by Beyond Energy. The program helps companies with electric forklift fleets make money from California’s Low Carbon Fuel Standard (LCFS). It monetizes sustainable practices like using material handling equipment powered by low carbon electricity.
Beyond Energy works with logistics firms, grocers, health care companies, beverage companies, and other warehousing operations at more than 200 facilities across California. Here is what you need to know to decide if the program is right for you.
Who is Beyond Energy?
Beyond Energy is a regulated party in California’s LCFS program. They aggregate LCFS credits and reinvest the value into sustainable operations, focusing on forklift fleets and truck refrigeration units.
What is the low carbon incentive?
The California Air Resources Board (CARB) designated electricity used in forklifts as a low carbon fuel effective January 1, 2016. Since then, electricity used in forklifts can generate credits in the program.
What is a LCFS credit?
An LCFS credit is an environmental commodity and represents a reduction in greenhouse gas (GHG) emissions. Each credit has value to regulated entities that generate deficits in the program.
How does a company generate a deficit?
Deficits are generated by high carbon fuels, mainly by refiners that produce gasoline and diesel. In other words, refiners producing a high carbon fuel, typically used in what would be considered an on-road application, are penalized and must offset that penalty by purchasing credits.
What kind of forklifts can generate credits?
Forklifts and forklift fleets that use electricity can generate credits. Refiners, or other regulated entities, buy these credits to offset deficits generated in the program.
How much does the program pay?
Beyond Energy will pay customers at least $500 per charging asset per year ($125 per quarter). The average warehousing facility can generate tens of thousands of dollars of revenue from LCFS credits annually.
What is the advantage of using Beyond Energy?
As an aggregator in the LCFS market, Beyond Energy acts as a shield to protect you from the regulator. They assume all regulatory and compliance risks as part of their agreement.
How often will I get paid if I use Beyond Energy?
The company pays customers quarterly.
Can I sign up for the program myself?
Yes, you can; however, it may take up to three years for individual facilities to generate enough credits to sell in the marketplace. Beyond Energy provides a way to get that value quarterly, rather than having to wait over time—and ensures you get paid on time, without any risk, and without heavy lifting on reporting.
How do I contact Beyond Energy?
It’s important to note that Beyond Energy will need to conduct an initial survey of your equipment, including batteries, battery chargers, and forklifts in operation. We encourage you to contact Beyond Energy now to get ready for the future. The sooner you start the process, the faster your checks can start coming in.
We’re here to help. Stay safe and call us if you need parts, service, or anything else during this uncertain time.Tags: electric forklifts