"Fiscal cliff" deal extends tax credits for alternative fuels

01/4/2013 | NGT News

The deal to avoid the "fiscal cliff" contains extensions of tax credits for alternative fuels. The alternative fuels excise tax credit, which provided 50 cents per gallon for fuels such as propane autogas and compressed natural gas, has been extended through the end of 2013 and applied retroactively. Additionally, a tax credit of up to 30% of the cost of installing fueling infrastructure was extended. "We think 2013 is going to be a big year for autogas," said Tucker Perkins, chief business development officer for the Propane Education & Research Council.

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