Commercial, Sourcing Renewables - June 11, 2020
Dependable Supply Chain to power EV fleet with 100% RE
Dependable Supply Chain Services announced June 10 that they have completed an agreement that will allow them to power their electric transportation fleet with 100% renewable energy.
The full-service logistics provider entered into an agreement with SRECTrade, who will manage Dependable’s portfolio of California Low Carbon Fuel Standard credit generating assets to monetize their investment in low carbon vehicles and the operational costs associated with the fleet. Dependable has adopted a fleet of electric yard tractors, Class-8 electric trucks, electric forklifts and light-duty charging stations that have been deployed at a variety of their facilities in Southern California.
Dependable estimates that by powering their electric fleet with renewable energy, they will be able to generate additional quarterly incentive revenue equivalent to approximately $0.25 per kWh. The company currently receives their renewable energy from solar and wind projects across California.
“The California Low Carbon Fuel Standard market has been a great incentive to drive us to seriously consider and adopt electricity as a fuel as a viable option for our fleet operations,” Troy Musgrave, Dependable’s Director of Process Improvement, said in a statement. “Working with SRECTrade has allowed us to easily navigate the complexities of managing our LCFS credits and earn more value by powering our fleet with renewable electricity.”
Dependable is further diversifying their grid independence by developing an on-site solar facility that will also contribute power to their expanding fleet of electric vehicles.