Innovate Mississippi

2012 Mississippi Renewable Energy and Energy Efficiency Report

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Page 63 of 81

APPENDIX III: INCENTIVES AND POLICIES Energy is one of the largest markets in the world, with estimates of size ranging in the neighborhood of $6 trillion.121 U.S. expenditures on energy services were $1.2 trillion in 2010, and are expected to grow to $1.7 trillion in 2030. 122 As such it is open to large amounts of regulation from various governments, whether from the local, state, or federal level. Federal Renewable Fuels Standard The first federal renewable fuel standard was the result of the Energy Policy Act of 2005. This version, known as RFS1, was amended by further legislation in the Energy Independence and Security Act of 2007. The subsequent rules became known as RFS2. 123 These standards set forth the applicable amount of renewable fuels to be included in transportation fuels "sold or introduced into commerce in the United States."124 The original amounts laid out under the RFS2 guidelines are shown in Table A1. Calendar Year 333333339933 333333339933 2012 pi Renewable Energy gy Efficiency Report Applicable Volume of Renewable Fuel (in billions of gallons) 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 4.00 4.70 9.00 11.10 12.95 13.95 15.20 16.55 18.15 20.50 22.25 24.00 26.00 28.00 30.00 33.00 36.00 Table A1: Renewable Fuel Standard, EISA 2007 The regulating authority for the Renewable Fuel Standard is the U.S. Environmental he Status of Renewable EnergyAgency (EPA). As such, this agency is in charge of conduction lifecycle greenhouse Protection ciency in the State of Mississippi 53 | P a g e

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