Our oceans are important to us for many reasons, and increasing the use of cleaner fuel sources such as natural gas and methanol is critical to ensuring long-term environmental stability while maintaining marine industry integrity.
The marine sector consumed 13 billion gallons of diesel fuel last year. As environmental standards become increasingly more stringent, especially in sensitive coastal and inland waterways deemed to be Emissions Controlled Areas (ECA’s) the need to reduce emissions is becoming increasingly urgent.
Converting to Methanol
Given that the US is poised to become the world’s largest natural gas producer in 2015, will natural gas be the alternate fuel to end oil’s monopoly? No — not directly. There’s a much better option. Use natural gas to produce methanol, a high-octane fuel that powered cars on American roads for millions of miles in the 80s and 90s. In the near future, the Open Fuel Standard will lead to the conversion of vast amounts of North America’s shale gas to methanol, a process that will reduce fuel prices, reduce the US trade deficit, generate jobs, stimulate the American economy and enhance energy security. The impact of the OFS will be felt around the world and make methanol a mainstream transportation fuel. The ZHRO™ Kit provides the perfect opportunity to switch to methanol. With the stable low cost of these fuels and the rising cost of diesel, just imagine how much your fleet could save.
And at Evotech, we understand that the limited natural gas and methanol fueling infrastructure that currently exists today, is a barrier to converting to these cleaner fuels, that’s why we’re prepared to work with our marine partners to bring natural gas and methanol fueling solutions to market. Contact us to learn more.
At the Federal and State level, there are tax incentives available to encourage the switch to natural gas.
The Federal Government has an Alternative Fuel Infrastructure tax credit available for fueling station owners that install qualified natural gas fueling equipment at their locations.
There is also $0.50/gallon Alternative Fuel Excise Tax Credit that is available for alternative fuel that is sold or used to operate a vehicle. This tax credit further increases the spread between the price of diesel and natural gas making the switch to NG even more financially beneficial.
Follow the link to read more on these two Federal NG Tax Incentives.
In Washington State, The Department of Commerce administers the Energy Freedom Program which provides financial assistance to businesses for alternative fueling infrastructure alongside interstate corridors. Follow this link to learn more about the Washington State NG Tax Incentives.
In the state of Oregon, the state government provides a 35% tax credit for eligible costs of alternative fueling infrastructure projects. Follow this link to learn about this program and other Oregon NG Tax Incentives.