Tools commonly used in the Fuels-Renewable (Wholesale) industry for day-to-day tasks and operations.

• Biofuel blending equipment
• Fuel storage tanks
• Fuel pumps and dispensers
• Fuel quality testing equipment
• Fuel flow meters
• Fuel transfer pumps
• Fuel filtration systems
• Fuel additive injection systems
• Fuel tank level gauges
• Fuel delivery trucks

Common products and services typical of NAICS Code 424720-24, illustrating the main business activities and contributions to the market.

• Ethanol fuel
• Biodiesel fuel
• Biogas fuel
• Renewable diesel fuel
• Vegetable oil fuel
• Waste oil fuel
• Wood pellet fuel
• Hydrogen fuel
• Methanol fuel
• Butanol fuel

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Renewable Fuel Standard (RFS) Program: The RFS program is a federal program that requires transportation fuel sold in the US to contain a minimum volume of renewable fuels. The program is administered by the Environmental Protection Agency (EPA).
• Low Carbon Fuel Standard (LCFS): The LCFS is a state-level program that requires a reduction in the carbon intensity of transportation fuels. The program is administered by the California Air Resources Board (CARB).
• International Sustainability and Carbon Certification (ISCC): ISCC is a global certification system that covers the entire supply chain of renewable energy and other sustainability-related products. The certification is recognized by the EPA as a pathway for generating renewable identification numbers (RINs) under the RFS program.
• Bonsucro: Bonsucro is a global certification system for sugarcane-based products, including biofuels. The certification is recognized by the EPA as a pathway for generating RINs under the RFS program.
• Roundtable on Sustainable Biomaterials (RSB): RSB is a global certification system for biomaterials, including biofuels. The certification is recognized by the EPA as a pathway for generating RINs under the RFS program.

A concise historical narrative of NAICS Code 424720-24 covering global milestones and recent developments within the United States.

• The "Fuels-Renewable (Wholesale)" industry has a relatively short history compared to other fuel industries. The industry started to gain momentum in the 1990s when the United States government began to offer tax incentives for renewable energy. The first renewable fuel to gain popularity was ethanol, which is made from corn. In the early 2000s, biodiesel, which is made from vegetable oil, became more popular. The industry continued to grow in the 2010s, with the introduction of new technologies such as algae-based biofuels and renewable natural gas. In recent years, the industry has also seen an increase in demand for electric vehicles, which has led to the development of new renewable energy storage technologies. In the United States, the "Fuels-Renewable (Wholesale)" industry has experienced significant growth in recent years. In 2019, the industry generated $7.5 billion in revenue, up from $5.5 billion in 2014. This growth can be attributed to a number of factors, including increased demand for renewable energy, government incentives, and advancements in technology. The industry has also benefited from the growing popularity of electric vehicles, which has led to an increase in demand for renewable energy storage technologies. Overall, the "Fuels-Renewable (Wholesale)" industry is poised for continued growth in the coming years as the world continues to shift towards renewable energy sources.

The anticipated future trajectory of the NAICS 424720-24 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Growing

  The future outlook for the Fuels-Renewable (Wholesale) industry in the USA is positive due to the increasing demand for renewable energy sources. The industry is expected to grow as more businesses and consumers shift towards renewable energy sources to reduce their carbon footprint. The government's push towards renewable energy and the implementation of policies and incentives to promote the use of renewable energy sources will also contribute to the growth of the industry. The industry is expected to face challenges such as the high cost of production and the lack of infrastructure, but the increasing demand for renewable energy sources is expected to outweigh these challenges.

Recent groundbreaking advancements and milestones in the Fuels-Renewable (Wholesale) industry, reflecting notable innovations that have reshaped its landscape.

• Renewable Diesel: Renewable diesel is a low-carbon fuel that is produced from renewable sources such as vegetable oils, animal fats, and waste oils. It has a lower carbon footprint than traditional diesel and can be used in existing diesel engines without any modifications.
• Biofuels: Biofuels are fuels that are produced from renewable sources such as corn, sugarcane, and soybeans. They are a low-carbon alternative to traditional fuels and can be used in existing engines without any modifications.
• Hydrogen Fuel Cells: Hydrogen fuel cells are a clean energy technology that produces electricity by combining hydrogen and oxygen. They are a promising alternative to traditional fossil fuels and have the potential to power a wide range of applications, from cars to buildings.
• Solar Power: Solar power is a renewable energy source that is becoming increasingly popular in the USA. The falling cost of solar panels and the implementation of policies and incentives to promote the use of solar power are contributing to the growth of the industry.
• Wind Power: Wind power is another renewable energy source that is becoming increasingly popular in the USA. The falling cost of wind turbines and the implementation of policies and incentives to promote the use of wind power are contributing to the growth of the industry.