US Alternative Fuel Tax Credit retroactively extended for Autogas fleets

The Propane Education & Research Council (PERC) is encouraging Autogas fleet operators to take advantage of the Alternative Fuel Tax Credit, which was recently passed by the U.S. Congress as part of the Inflation Reduction Act, 2022.

Autogas fleet operators who apply for the tax credit will be able to claim a credit for every gasoline gallon equivalent of LPG purchased, or about 37 cents per gallon. The bill not only extends the credits through Dec. 31, 2024, but fleet owners can also apply for credits retroactively for any fuel purchases made in 2022. Tax exempt entities that use Autogas from an on-site fuelling station for a vehicle fleet also qualify for the incentive.

“Thousands of fleets across the country rely on Autogas every day for environmental sustainability, and these credits provide another opportunity for fleets to ensure they’re also realising financial sustainability,” said Steve Whaley, Director of Autogas Business Development at PERC. “Even without the credits, Autogas provides the lowest total cost-of-ownership. As an abundant and available energy source, it can make a difference in communities around the nation today.”

The new law also extends the Alternative Fuel Vehicle Refuelling Property Credit, which allows operators to claim up to 6% or $100,000 of the cost of installing qualified alternative fuel vehicle refuelling property, including Autogas refuelling equipment. For more information, please check here.

12 October 2022