A Renewable Identification Number (RIN) is a unique 38-character numeric code assigned to each gallon (or gallon-equivalent) of renewable fuel produced or imported under the US EPA's Renewable Fuel Standard (RFS).
A RIN represents proof that one gallon-equivalent of qualifying renewable fuel has been produced or imported into the US transportation fuel supply. It carries information encoded in its structure, including the producer, fuel category, production year, and batch, which the EPA uses to verify its validity.
A RIN is generated the moment renewable fuel is produced or imported and stays 'assigned' to that fuel as it moves through the supply chain. When the fuel is blended into gasoline or diesel (or otherwise used as a qualifying fuel), the RIN is 'separated' from it and becomes a standalone, tradable credit that obligated parties can buy, sell, or retire.
RINs are grouped into categories (D-codes) based on the feedstock and greenhouse gas reduction achieved: D3 cellulosic biofuel, D4 biomass-based diesel, D5 advanced biofuel, D6 renewable fuel (conventional, largely corn ethanol), and D7 cellulosic diesel. Each category carries its own compliance value, and obligated parties must retire specific volumes across categories to meet their RVO.
Every RIN transaction, generation, separation, transfer, and retirement is reported through the EPA Moderated Transaction System (EMTS). Obligated parties, traders, and brokers buy and sell separated RINs on the open market, and at year-end each obligated party retires enough RINs to satisfy its RVO.
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