NGVAmerica (NGVA) has released an comprehensive summary on the benefits available for renewable natural gas-powered trucks through the extension of the Alternative Fuels Tax Credit (AFTC) contained in the federal Inflation Reduction Act of 2022 (IRA).
As previously reported, NGVA successfully secured a three-year extension of the AFTC (through December 31, 2024) in the IRA earlier this year. The continuation of this $0.50/gallon natural gas tax credit will support public and private fleets of all sizes in their investment and use of cleaner renewable fuels.
NGVA is the national trade association dedicated to growing a profitable and sustainable market for vehicles and vessels powered by biomethane. You can review this summary and the NGVA press release for more details on how this credit extension can benefit your CNG fleet.