World's First Validated And Registered Carbon Offset Project For Electric Vehicle Chargers Announced By SCS Global Services, Electrify America And Verra

Groundbreaking, Award-Winning Methodology Opens New Opportunities for Transportation Industry

Under the project plan validation, SCS confirmed that Electrify America's EV charging stations adhere to a rigorous new methodology describing how charging stations should be able to reduce CO2 emissions compared to the baseline case – fueling and driving gasoline-powered vehicles. Once completed, the project will undergo verification of these CO2 emissions reductions in order to be eligible to receive Verified Carbon Units or VCUs (the carbon credits issued under the Verified Carbon Standard). The credits can be sold on the voluntary carbon market to companies or entities that want to offset their emissions towards carbon neutrality by purchasing credits directly associated within the transportation sector.

Electrify America is on track to meet its targets of achieving validation and verification for its first 400-plus charging stations early next year which will include VCUs from 2019 and 2020 in 48 states, excluding California and Oregon which have compliance marketplaces.

Electrify America has more than 430 DC Fast Charging stations operational across the US today and is expected to have approximately 800 total charging stations with about 3,500 DC fast chargers operational by December 2021. The validated project incorporates more than 200 of these EV charging stations across the US and will include additional locations for verification that were not in operation during the validation phase.

'We are excited to implement this project, which will directly reduce the impact of fossil fuels on our environment and simultaneously open up opportunities for growth in the electric vehicle industry by way of more attractive investment economics,' said Wayne Killen, director of infrastructure planning and business development at Electrify America. 'Being among the first stakeholders to develop this methodology for electric vehicle chargers, we hope that it will be a turning point for others investing in charging infrastructure to leverage the methodology and actively deploy more charging stations throughout the nation, facilitating the use and adoption of more electric vehicles on the road.'

'We are proud to have our project validated by SCS Global Services and registered with Verra,' said Killen. 'SCS is one of the world's premier third-party verifiers, ensuring thoroughness in design and confirming the validity of our process of obtaining carbon credits for the charging stations. Having the project registered with the VCS Program gives us the confidence that it has undergone a rigorous and credible assessment.'

Validation of the project included SCS's assessment of the project's conformance to the VM0038 methodology and to the Verified Carbon Standard (VCS) rules, as well as an evaluation of the likelihood that the methods and procedures will generate the predicted GHG emissions reductions once implemented.

'Congratulations to Electrify America on its success in having this widely anticipated project validated under the new electric vehicle infrastructure methodology,' said Letty B. Brown, program manager of GHG verification at SCS. 'This innovative methodology will be an important stepping stone in incentivizing electrification of vehicles and stemming climate change by improving the business case for charging infrastructure investment.'

'It's great to see the successful registration of the first Electric Vehicle (EV) charging station project that can generate carbon credits under the VCS Program' said David Antonioli, CEO of Verra who manages the Verified Carbon Standard (VCS) Program. 'The transportation sector is a huge source of GHG emissions and this project is an important step towards providing climate finance for the underlying infrastructure needed to get more EVs on the road, and thus achieving emission reductions at scale.'

Photo credit: Electrify America
posted on conceptcarz.com

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