RINs market

Renewable Identification Numbers (RINs) serve as the “currency” of the Renewable Fuel Standard (RFS) program, which created an open market for RIN trading, allowing obligated parties to buy and sell RINs to meet their Renewable Volume Obligations (RVOs).

Obligated parties with their own blending operations may generate surplus RINs, which they can sell. Conversely, in years when their operations do not produce enough RINs to meet their RVOs, they may purchase RINs from other market participants. Similarly, obligated parties without blending capabilities can meet their RVOs by obtaining RINs on the open market.

The market-based RIN system offers flexibility for refiners while ensuring compliance, thereby translating the environmental benefits of the RFS to consumers.

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