ABC Applauds the Introduction of the Biogas Investment Tax Credit Act of 2013
The American Biogas Council (ABC) applauds the introduction of the Biogas Investment Tax Credit Act of 2013 (HR 860) by Representatives Ron Kind (D-WI) and John Lewis (D-GA).
Washington (I-Newswire) March 7, 2013 - The American Biogas Council (ABC) applauds the introduction of the Biogas Investment Tax Credit Act of 2013 (HR 860) by Representatives Ron Kind (D-WI) and John Lewis (D-GA) which would provide a 30 percent investment tax credit (ITC) for qualifying biogas technologies. This bill would add biogas to the list of renewables that already receive a 30 percent federal investment tax credit.
According to ABC Executive Director Patrick Serfass, projects that inject renewable natural gas into the gas pipeline or use the biogas to power vehicle fleets would benefit from the credit. "This tax credit will help a dairy farmer who makes biogas from cow manure and then uses it to heat the buildings and power the trucks that deliver the milk,” Serfass said. “Without it, the farmer may not be able to make that investment,” he continued. “Indeed, the ITC would also facilitate the conversion of food waste to biogas that can be injected into natural gas pipelines.”
During this turbulent time in Congress, the introduction of HR 860 reflects the importance that biogas can play in our nation’s energy mix. While biogas projects that generate electricity are eligible for a production tax credit under Section 45 of the federal tax code, currently no comparable tax incentive exists for the production of biogas when used for purposes other than electricity generation.
About the American Biogas Council
The non-profit American Biogas Council represents over 167 companies dedicated to maximising the production and use of biogas from organic waste. Members include anaerobic digester designers, multi-national engine manufacturers, farmers, waste management companies, municipalities, natural gas providers, engineering and law firms, non profits and universities and other organizations covering the entire biogas supply chain. www.americanbiogascouncil.org (http://www.americanbiogascouncil.org/).
American Biogas Council
1211 Connecticut Avenue
Phone : 202-223-5547
Tags:renewable energy alternative energy green energy biogas Biogas Investment Tax Credit Act of 2013 HR 860
Published On:March 7, 2013
Print Release:Print Release
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