If you own EV chargers and pay for the electricity, you could be generating additional revenue from infrastructure you already have. All it takes is 1-2 hours of effort and submitting charging data.
Key Takeaways
- You may already qualify. If your BC business owns 3+ EV chargers and pays the electricity bill, you are likely eligible to generate revenue through the LCFS program.
- The earnings are significant. Eligible businesses can receive $300–$1,000 per Level 2 charger and $1,000–$4,000 per Level 3 charger annually, totaling thousands in passive revenue.
- Using an aggregator makes it even easier. Individual businesses with fewer chargers struggle to generate enough credit volume to attract buyers. A registered aggregator pools credits across businesses to maximize value for everyone.
- The time commitment is minimal. Participating in the LCFS program requires as little as 1-2 hours of effort: submit your charging data and let a registered aggregator like Synergy handle the rest.
What is the BC LCFS Program?
BC’s Low Carbon Fuel Standard (LCFS) is a compliance program that rewards the supply of low-carbon fuels, including the electricity delivered through EV charging equipment. The LCFS program sets requirements that encourage the use of renewable and low-carbon fuels and offers incentives to organizations that supply them. Incentives depend on how much these fuels cut greenhouse gas emissions compared to conventional fuels.
The LCFS regulates companies that supply transportation fuel in BC by setting an allowable carbon intensity (CI) for each fuel type. Fuel suppliers that produce fuels below the allowable limit generate compliance units (CUs). Those compliance units can then be sold to companies that exceed their credit limits in the credit market, creating a direct financial incentive to produce and supply low-carbon fuels such as electricity.
How Does the BC LCFS Program Make EV Charger Owners Money?
When you own over three EV chargers, collect charging data, and pay the electricity bill, you are supplying a low-carbon fuel every time a vehicle charges. Under the LCFS, that activity generates compliance units that have real monetary value on BC’s carbon credit market.
Eligible businesses can receive $300–$1,000 per Level 2 charger and $1,000–$4,000 per Level 3 charger annually. The exact amount depends on charging volumes and prevailing credit market prices, but for a business operating multiple chargers, this can add up to thousands of dollars in passive revenue per year.
To be eligible, your organization needs to meet a few basic requirements:
- At least one full calendar year of charging data from no earlier than January 1st, 2024
- Your company or organization owns the charging equipment and pays the electricity bill directly
- You have at least 3 chargers and access to your charging data on a per-event basis.
- If those boxes are checked, you are eligible!
How Can a Registered Aggregator with the BC LCFS Program Help Me?
Here’s where it gets a little more complex: unless your business supplies a large number of EV chargers, it can be difficult to generate sufficient compliance units on your own. Low credit volumes are harder to market, making it harder for individual businesses to find a buyer or realize the full value of their credits.
This is where a registered aggregator can help. An aggregator is an entity registered with the LCFS program that can collect charging data from multiple businesses and combine it into a single submission. This produces larger credit volumes, makes the credits easier to sell, and ultimately generates better returns for every business in the pool.
Synergy Enterprises is a registered fuel supplier and aggregator with the BC LCFS. That means we can submit for, generate, and sell compliance units on your organization’s behalf, handling all the paperwork and calculations. The more businesses that participate, the larger the pool, which benefits everyone involved.
The compliance reporting timeline runs from January 1st through to a March 31st submission deadline, with a February 28th deadline for businesses to join. Synergy manages the entire process, so your organization simply provides the charging data and receives the revenue.
Conclusion
The BC Low Carbon Fuel Standard rewards businesses for supplying low-carbon fuel from infrastructure they already have. If you own EV chargers and pay for the electricity, you have a revenue-generating asset that most organizations are not yet taking advantage of.
Whether you are a strata corporation, a hotel, a parking facility, or any other BC business with EV charging infrastructure, the LCFS program is worth exploring. Working with a registered aggregator like Synergy ensures you get the most value from your credits without the administrative burden of navigating the program on your own.
Interested in finding out how much your EV chargers could be earning? Book a discovery call to determine whether your organization is eligible.
