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California reduces tax on dimethyl ether (DME) fuel to be consistent with other alternative fuels; enabling retail sales

Green Car Congress

The California state legislature passed and the Governor signed into law a bill ( AB-2663 ) that lowers the Use Fuel Tax rate of dimethyl ether (DME) from $0.18 per gallon of DME-propane fuel blend used on or after 1 July 2021 (the same tax rate as propane, $0.06 million grant from the California Energy Commission last summer.

Tax 376
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PBF considering $550M investment to convert idled refinery unit to renewable diesel production

Green Car Congress

Louisiana Governor John Bel Edwards and PBF Chalmette Refinery Manager Steven Krynski announced that the company is studying the possible conversion of an idled refinery unit into a renewable diesel production complex. The company also is expected to utilize the state’s Quality Jobs and Industrial Tax Exemption programs.

Renewable 186
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T&E: two-thirds of European battery production at risk as companies weigh investing in US instead

Green Car Congress

A central fund accessible to all member states should prioritise battery value chains, renewables and smart grids. —Julia Poliscanova On 14 March, the EU Commission will publish a Net Zero Industrial Act, part of its response to the tax benefits and subsidies provided by the IRA for localising battery supply chains in America.

Companies 430
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ICCT suggests minor changes to Fed tax policy to cut higher investment risk of 2nd-gen biofuels and advance the industry

Green Car Congress

Minor changes to an existing Federal tax incentive for second-generation biofuels (i.e., Minor changes to an existing Federal tax incentive for second-generation biofuels (i.e., The Renewable Fuel Standard (RFS2) in the U.S. The authors used Amyris, Gevo, Green Plains Renewable Energy, KiOR, Lignol Energy Corp.,

Tax 262
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Biofuel Companies and Trade Associations Push for Extension to Investment Tax Credits for Cellulosic Biofuels and The Inclusion of Algae Biofuels

Green Car Congress

A group of 35 biotechnology and biofuel companies and trade associations are urging the leaders of the House Ways and Means Committee to extend tax credits for cellulosic biofuels for four years, to allow algae biofuels to qualify for those tax credits, and to create an option for monetizing the tax credits as tax refunds.

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Report from the REFF-Wall Street; Themes in Renewable Energy Finance

Green Car Congress

Green Car Congress attended the Renewable Energy Finance Forum - Wall Street (REFF-Wall Street) conference (23-24 June) sponsored by Euromoney Energy Events and the American Council on Renewable Energy (ACORE). by Bill Cooke. Billion vs. $28.3 Billion in 2008). Earlier post.).

Financing 150
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Nevada the site for the Tesla Gigafactory pending legislative approval of incentive package estimated at up to $1.25B over 20 years

Green Car Congress

Elements of the agreement include abatements, tax credits, an economic development rate rider, and an agreement on direct sales. Abatements: Up to 100% abatement of Sales Tax until 30 June 2034. Up to 100% abatement of Real Property Tax until 30 June 2024. Up to 100% abatement of Personal Property Tax until 30 June 2024.

Nevada 252