At this time, the fleet average standards will become as stringent as the LEV certification standards for NMOG at 5 years or 50,000 miles. To preserve regional air quality benefits, manufacturers must calculate separate fleet emission averages for vehicles sold in the Northeast and for those sold in other states. Trading Program To provide additional flexibility in demonstrating compliance, manufacturers can trade NMOG credits to meet the fleet average standards. A manufacturer will generate credits in a model year if its fleet average is lower than the standard, and will generate debits if its fleet average exceeds the standard. Manufacturers with debits can purchase credits from others to achieve compliance.
Manufacturers also can save credits for use or sale in future model years.
However, these credits will lose a portion of their value each year and will no longer be valid after the third year held. As an incentive to introduce cleaner vehicles nationwide sooner than the program requires, manufacturers will be eligible for early reduction credits if they meet the fleet average standards in states outside of the Northeast prior to MY2001. The main air quality benefit of the National LEV program would be reductions in the ozone precursors, NMOG and NOx, which also could help to reduce fine particulates. Other benefits would be reductions in two carcinogens, formaldehyde and benzene. Based on the stringency of the certification standards, EPA estimates that by 2005 the National LEV program would reduce NOx emissions by 400 tons per day nationwide, NMOG by 279 tons, PM by 29 tons, benzene by 7 tons, and formaldehyde by 4 tons.