IRVINE, Calif. — Qmerit and BTR Energy announced a partnership that will enable Qmerit’s commercial clients to monetize Low Carbon Fuel Standard (LCFS) credits issued by the California Air Resources Board (CARB).
This partnership combines Qmerit’s turnkey EV charging implementation solutions with BTR’s ability to measure greenhouse-gas reductions from electric vehicles. Commercial properties such as workplaces, certain multi-family complexes and hospitality venues will be able to seamlessly implement EV charging capabilities while also receiving revenue from LCFS credits, which are generated by matching the charging occurring at those properties with renewable energy generated by local sources.
“With their scale and influence, commercial entities can push the use of electrified transportation to new heights,” said Qmerit Founder and CEO Tracy K. Price. “But to do this effectively, they need tools that connect stakeholders situated at different points along the EV spectrum. Our solution with BTR does this in an elegant and efficient way for end users.”
California’s Low Carbon Fuel Standard is a credit-based program that encourages the use of alternative fuels in transportation through the enforcement of emission targets. Suppliers of fuels that produce emissions below the targets – like the renewable energy used to charge EVs – receive credits which can be sold to suppliers of fuels that produce emissions above the targets – like gasoline and diesel.
When an electric vehicle is charged at a station installed by Qmerit, BTR’s platform will match the energy usage to energy generated from local renewable sources. BTR reports the charging data to CARB, along with data from the energy supplier, which CARB uses to issue credits that BTR sells to LCFS credit buyers. Most of the revenue from the sale is provided back to the Qmerit customer, with some also going to the local energy supplier.
“California’s LCFS program is an important driver of investment in EV infrastructure, particularly when it is easy to participate in and contribute to the program,” said BTR CEO Jack Barrow. “We are excited to enable Qmerit to offer this important and timely service to its customers as new charging assets are deployed.”
The partnership between Qmerit and BTR could expand to other programs in the near future, including Canada’s Clean Fuel Standard and Oregon’s Clean fuels Program. Washington’s Clean Fuels Program may also present an opportunity beginning in 2023.
