Tesla Inc is seeking to enter the multi-billion dollar U.S. renewable credit market, hoping to profit from the Biden administration's march toward new zero-emission goals, two sources familiar with the matter said. The electric car maker is one of at least eight companies with a pending application at the Environmental Protection Agency tied to power generation and renewable credits, the sources said. Tesla's entry could potentially reshape the renewable credit market, established in the mid-2000s to boost investment in the U.S. biofuel industry. The proposal largely sat dormant during the Trump administration, which spent most of its time on fuel credits trying to find common ground among rivals in the corn and oil industries. Tesla would generate the most lucrative type of credits, known as D3s, which trade at a significant premium to the larger pool of traditional ethanol credits.

Source: Mint May 12, 2021 09:56 UTC