Benefits

NetZero Biofuels products provide great economic and environmental benefits that have positive impacts at every step along the value chain, from feedstock sourcing to fuel production, to wholesaler distribution and blending, and finally to the end-user customer. 

 

Environmental Benefits

 

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Compared to petroleum diesel, biodiesel reduces:

  • carbon dioxide emissions by up to 86%
  • particulate matter by 47%
  • hazardous waste by 96%
  • processing wastewater by 79%
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Reduces fumes and smog, improving air quality and public health

 

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Reduces waste, promoting sustainability on the path to net-zero emissions

 

 

Economic Benefits

 

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Adds more than $1.10 in value to every bushel of soybeans

 

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Supports clean-energy jobs for hardworking New Yorkers

 

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Air quality improvements promote respiratory health, reducing hospitalizations, lost workdays and other medical costs

 

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Generates D4 RIN credits, which are bought and sold to fulfill compliance with the EPA’s Renewable Fuel Standard

 

Tax Credits & Incentives

 

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The Biodiesel Income Tax credit provides the producer with $1.00/gallon produced 

 

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The Biodiesel Mixture Excise Tax Credit provides a wholesaler with $1.00/gallon blended

 

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The New York State Clean Heating Fuel credit provides a homeowner with $.06 to $0.20 for every gallon of biodiesel-blended Bioheat® fuel purchased. For example, homeowners who purchase 600 gallons of B20 Bioheat fuel can receive a credit of $120 (600 x .20 = 120).

 

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New York State mandates that all heating oil sold in New York City, Westchester, Nassau and Suffolk counties must contain a minimum 5% biodiesel. New York City’s mandate increases from B5 to B10 in 2025, to B15 in 2030 and to B20 in 2034. 

 

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A proposed bill that is supported by New York’s heating oil industry and expected to pass in 2021 would create a statewide Bioheat fuel blending standard requiring B5 by 2022, B10 by 2025 and B20 by 2030.

 

Consumers and policymakers demand actionable and reliable clean-energy solutions. NetZero Biofuels empowers wholesalers to deliver the most immediately accessible environmental benefits of any transportation and heating fuels on the market.

Links

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