Biofuel News
Treasury Issues Guidance on Refundability of New Tax Incentives
On June 14, the U.S. Treasury and Internal Revenue Service (IRS) released a package of guidance documents on new options for taxpayers to receive direct payment or transfer new energy incentives enacted in last year’s the Inflation Reduction Act (IRA), including: The guidance package is open to public feedback, with comments due on the two […]
Michigan Biodiesel Producer and Retailer Tax Credits Introduced
Last week, legislation was introduced in Michigan creating a new incentive program for the in-state sale and production biodiesel. HB4847, introduced by Representatives John Fitzgerald (D – Wyoming), Kristian Grant (D – Grand Rapids), Jennifer Conlin (D – Ann Arbor), Matt Hall (R – Richland Township), and Reggie Miller (D – Van Buren Township), provides a […]
Higher Blends Infrastructure Incentive Program 101
Beginning July 1, 2023, $450 million will be available for the Higher Blends Infrastructure Incentive Program (HBIIP). Each quarter, $90 million will be made available to support a variety of fueling operations: The United States Department of Agriculture (USDA) intends to open five application windows for HBIIP between July 1, 2023, and Sept. 30, 2024. […]
Senators Urge Treasury to Adopt GREET for SAF Tax Credit
By Erin Voegele A group of 16 senators on June 16 sent a letter to U.S. Treasury Secretary Janet Yellen urging the agency to adopt the U.S. Department of Energy’s GREET model as the secondary methodology for calculating tax credits for sustainable aviation fuel (SAF). According to the senators, adopting GREET will dramatically enhance the […]
FAA Seeks Comments Related to FAST-SAF Grant Program
By Erin Voegele The U.S. Department of Transportation’s Federal Aviation Administration has opened a public comment period regarding its intention to request Office of Management and Budget approval for a new information collection related to sustainable aviation fuel (SAF) grant funding included in the Inflation Reduction Act. The IRA was signed by President Biden in August 2022. […]
NORA Releases Biodiesel Blends Quick Guide for Technicians
As the liquid heating industry continues to decarbonize through ever-increasing blends of biodiesel in fuel, questions have arisen as to the proper way to manage service in the field. NORA consulted service technicians, educators, manufacturers and its own research to identify the most common questions about servicing biofuel powered heating appliances. The results were narrowed […]