Fleet operators on the fence about making the switch to American-made clean fuel should take note: in a vote of 257 to 167, the U.S. Congress has advanced a “fiscal cliff” agreement by the Senate that includes positive provisions for clean domestic fuels and preservation of past tax credits, also making them retroactive for 2012. In other words: tax credits for alternative fuels and fueling infrastructure have been extended; and if you already converted vehicles or installed a clean fueling station in 2012, you might also get money back from last year!
In particular, the bill’s Title IV section on energy tax extenders includes the following:
Sec. 402 – Extension of credit for alternative fuel vehicle refueling property to Dec 31, 2013
This is retroactive to alternative fuel infrastructure implemented after Dec 31, 2011. It ensures a 30 percent credit on up to $30,000 per facility, applicable for all alternate fuels.
Sec. 412 – Extension of alternative fuels excise tax credits to December, 31, 2013
The tax credit of 50 cents per gge specifically for propane autogas, CNG and LNG is also retroactive to Dec 31, 2011.
By making fuels like propane autogas even more affordable to implement, these extended tax credits can help provide that extra push U.S. fleets need to adopt American-made alternative fuels in greater numbers. For fleets thinking of going green in 2013, now is the perfect time.