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What is the BC LCFS (carbon credit) program?
The BC Low Carbon Fuel Standard (LCFS) program offers an opportunity for entities which provide alternative, low-carbon fuels (such as electricity for EV charging) to earn credits based on the amount of CO2 offset versus traditional fuels.
Hypercharge works with a partner to act as an aggregator between you and the provincial government to participate in this program and earn LCFS credits - also known as carbon credits - based on the carbon offset by the energy delivered by your charging stations in BC versus traditional fuels.
How do my charging sites generate revenue through this program?
Your charging stations earn credits through the BC LCFS program by offsetting carbon that would have been generated by traditional fuels.
These credits are issued to Hypercharge annually, and then sold in an open market to net carbon emitters to offset their own emissions, which are penalized under the LCFS program. You earn revenue when Hypercharge sells the credits earned by your charging stations.
How much revenue will my charging sites generate through this program?
The value of LCFS/carbon credits is subject to market forces, and the timeline for Hypercharge to receive credits and subsequently sell them to generate revenue for you cannot be guaranteed. As a result, it's not possible to place a precise eventual value on these credits.
For estimation purposes, it is easiest to think of the value of credits earned by EV charging as a credit per kWh of energy delivered. Based on 2024 credit prices, we expect station owners who participate in this program to net $.14 to .28 per kWh of usage at their eligible stations.
When will I receive revenue generated through the LCFS/carbon credit program? How frequently will I be paid?
The BC LCFS program is an annual program, with an application deadline on March 31st each year.
Applications are then processed by the province, with credits expected to be issued in the latter half of the year. For example, we expect the province to issue credits for 2024 in the second half of 2025.
As a result, Hypercharge issues carbon credit revenue to you on an annual basis once carbon credits have been received from the government and sold.
What are the eligibility requirements to participate in the BC LCFS program?
Most residential buildings with more than 5 units qualify for the BC LCFS program, as well as all workplaces and public charging locations.
For stations located at single-family homes or at residential buildings with less than 5 units, your eligibility may depend on the usage of your chargers (ex. if a commercial fleet vehicle is being charged at one of your chargers). Please contact us at [email protected] to discuss eligibility.
Note - Requirements above may be subject to change or new guidance. Please refer to the provinces' resources for the most complete & up-to-date information on the program: BC Renewable and Low Carbon Fuels
How do I sign up my sites for the BC carbon credit program?
If you have one or more existing Hypercharge location in British Columbia, please contact your account representative or [email protected] to confirm your eligibility and receive a carbon credit agreement.
In addition to the agreement, you will need to provide:
A utility bill from the year that you are applying to receive credits for, showing the legal entity name.
One allocation agreement per legal entity as shown on the provided utility bills. This file is available for download at the bottom of this page.
If you are interested in carbon credits for a future site, please note your interest with your account or onboarding representative, who can ensure you are signed up during the sales & onboarding process.
Who is Hypercharge's aggregator partner in submitting LCFS credits to the provincial government?
Hypercharge works with FuSE (https://www.usefuse.com/) to administer this program and provide guidance in navigating program requirements to maximize the value of your credits.
What is the advantage of working through Hypercharge to participate in this program?
For most individi charging sites, the cost & effort required to meet the reporting requirements under the Low Carbon Fuels Act exceeds the potential value of the credits earned. In addition, some sites may not be eligible to participate in the program directly due to not meeting minimum reportable usage requirements.
Hypercharge acts as an aggregator across all of our sites, ensuring that all eligible stations in BC can participate regardless of usage, and minimizing the cost and effort required by you to participate in the program.
Our site signed up for carbon credits in 2023 and has not received payment yet. What is the status of those payments?
The BC provincial government has been significantly delayed in issuing credits for 2023, which were expected in mid-to-late 2024, meaning Hypercharge has not received 2023 credits to date.
We are expecting to receive LCFS credits for 2023 in the next 60 days. We will communicate with customers who signed up in 2023 with an update as soon as those credits are received.
Downloads
BC Carbon Credit Allocation Agreement