Alt Fuel Tax Credits Retroactively Extended Through 2017
Good news — two tax credits that affect propane autogas fleets have been extended! The Alternative Fuel Excise Credit and Alternative Fuel Infrastructure Tax Credit have been retroactively extended through December 31, 2017 — a year past their original expiration of December 21, 2016.
Why the excitement? Propane autogas pricing has a long trend line that is up to 50% less expensive than diesel, and now a tax credit is available for any fleet that purchased propane autogas last year. Additionally for those of you who installed propane infrastructure, the fueling equipment is eligible for a tax credit of 30 percent of the cost, not to exceed $30,000. Keep in mind that propane infrastructure is already the lowest cost of any transportation energy source — conventional or alternative.
While this is a short term victory we need to make sure that our policy makers are not always playing catch up with legislation. This week, I’m at the Energy Independence Summit in Washington D.C., and there has been a lot of discussion around the industry’s approach to these tax credits. I urge everyone to contact your elected officials and voice your support for these incentives. Just a few minutes of your time will show our elected officials that you back alternative fuel credits — now and for our future.
Additionally, we need to advocate for our Clean Cities coalitions. Since its inception in 1993, the Department of Energy’s Clean Cities program has worked to cut petroleum use in transportation through local outreach and education with stakeholders in their region. They have encouraged the use of alternative fuels and advanced technology vehicle adoption, and now they need our help to ensure Congress recognizes their value. Please reach out to your representative and express your support.
To learn more about current legislation and programs for propane autogas vehicles, call us at 800.59.ROUSH or contact Chelsea Jenkins, Executive Director of Government Affairs, at Chelsea.Jenkins@roush.com.
Enjoy the last few weeks of winter, and talk to everyone in March.