# U.S. renewable diesel capacity could increase due to announced and developing projects -
		U.S. Energy Information Administration (EIA)

> The EIA projects US renewable diesel production capacity could rise from about 0.6 billion gallons per year at the end of 2020 to 5.1 billion gallons per year by 2024 if all announced projects proceed. Growth is driven by state and federal targets, tax credits and refinery conversions.

- Date: 2021-07-29 · published 2021-07-29T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/45930-u-s-renewable-diesel-capacity-could-increase-due-to-announced-and-developing
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Rapid expansion of renewable diesel capacity increases future demand for vegetable oils and animal fats as feedstock, which supports soybean oil prices and reduces oil available for feed-related uses.

## Read by commodity

- SBO: bullish ▲
- DIESEL: neutral
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2023-02-02 | [Domestic renewable diesel capacity could more than double through 2025 -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/15334-domestic-renewable-diesel-capacity-could-more-than-double-through-2025-u-s.md) | -2.7% | -1.9% |
| SBO | 2022-03-24 | [EIA projects U.S. renewable diesel supply to surpass biodiesel in AEO2022 -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/15408-eia-projects-u-s-renewable-diesel-supply-to-surpass-biodiesel-in-aeo2022-u-s.md) | -3.0% | +263.0% |
| SBO | 2017-12-15 | [U.S. biodiesel production still increasing despite expiration of tax credit -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/67355-u-s-biodiesel-production-still-increasing-despite-expiration-of-tax-credit-u-s.md) | -1.1% | -0.7% |
| SBO | 2023-11-03 | [Increased Renewable Diesel Production is Attracting Competition for Soybean Oil](https://feedsoft.ai/events/15258-increased-renewable-diesel-production-is-attracting-competition-for-soybean-oil.md) | +2.0% | +6.9% |
| SBO | 2021-07-22 | [US renewable diesel capacity projected to hit 5.1 billion gallons per year by 2024](https://feedsoft.ai/events/45934-us-renewable-diesel-capacity-projected-to-hit-5-1-billion-gallons-per-year-by.md) | +0.7% | -3.5% |
| PALMOIL | 2021-07-22 | [US renewable diesel capacity projected to hit 5.1 billion gallons per year by 2024](https://feedsoft.ai/events/45934-us-renewable-diesel-capacity-projected-to-hit-5-1-billion-gallons-per-year-by.md) | +1.4% | +6.9% |
| PALMOIL | 2022-04-15 | [EIA’s latest energy outlook forecasts US renewable diesel supply to…](https://feedsoft.ai/events/15403-eia-s-latest-energy-outlook-forecasts-us-renewable-diesel-supply-to.md) | +1.2% | -0.3% |
| PALMOIL | 2019-04-22 | [Renewable Diesel is a Game Changer for Sustainable Aviation and Low Carbon Fuel Markets in the U.S., Canada, Europe and Southeast Asia  : The Daily Digest](https://feedsoft.ai/events/59475-renewable-diesel-is-a-game-changer-for-sustainable-aviation-and-low-carbon-fuel.md) | -0.4% | -6.7% |

## Sources

- eia.gov: https://www.eia.gov/TodayinEnergy/detail.php?id=48916

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.