The Renewable Fuel Standard (RFS) is a federal program that mandates the incorporation of renewable fuels into the nation’s transportation fuel supply. Each year, the U.S. Environmental Protection Agency (EPA) issues RFS rulemakings with volume requirements for certain renewable fuel categories and sets those volumes through annual renewable volume obligations (RVO). RVOs are the volumetric biofuel targets for obligated parties such as a refiners and importers of petroleum-based gasoline or diesel fuel.
