Friday, July 06, 2007

Biodiesel B99 and E85 Ethanol get state tax credits

Beginning 1 Oct 2007, Oregonians get a 24 cents per gallon income tax credit for B99 biodiesel, which we use in the Jeep, as per Oregon House Bill 2210.

If we had an E85-capable car, that same income tax credit would apply to it, and there's also a five cents per gallon credit for biodiesel used in home heating systems. (Biodiesel can be used in just about any home oil furnace, although it's a good solvent and will knock loose a lot of crud which may cause problems... and it doesn't smell like dead dinosaurs when you heat your house. Kewl.)

There's a cap of $200 per taxpayer for the credit, which I will surely reach in a full year's time. Figure 20 gallons a week, 52 weeks in a year and $3.37/gallon right now for B99 at Jay's Garage or Bluesky Fuel vs an effective $3.13/gallon after the rebate, and I'd see a $250 rebate if not capped.

20 GAL/WK * 52 WK/YR * $0.24/GAL = $249.60

Hmm. Better buy a logging program for the smartphone, and a backup paper logbook.

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