Bioheat® fuel - heating oil blended with biodegradable organic materials such as soybean oil - is one of the "hottest" things happening in home comfort. Bioheat® fuel is not only kind to Mother Earth, it's kind to heating systems, too. Here’s why:
These everyday products of nature can be used to produce the alternative environment-friendly fuel:
Bioheat® fuel is ultra-clean, ultra-efficient, and ultra-environmentally friendly. With Bioheat® fuel, your heating oil is better than ever! It’s extremely clean burning and has the highest Btu content of any alternative fuel.
Testing conducted by the National Oilheat Research Alliance (NORA) found that a Bioheat® fuel blend of 80 percent low-sulfur heating oil and 20 percent biodiesel (B20) reduced sulfur oxide emissions by as much as 80 percent or more. Nitrogen oxide emissions were lowered by about 20 percent. In addition, carbon dioxide emissions can be lowered by 20 percent.
If everyone using heating oil used a B5 blend (5 percent biodiesel/95 percent heating oil), 400 million gallons of regular heating oil could be conserved. This would be a big step toward conserving oil and reducing greenhouse gas emissions.
Bioheat® fuel is produced from domestically grown renewable resources and refined in the United States. Soy-based Bioheat® fuel helps to support our nation’s farmers and reduce our dependence on foreign oil. In fact, biodiesel production supports $16.8 billion in total economic impact, more than 62,000 jobs and $2.6 billion in wages paid.
Biodiesel production can also have positive effects on the global food supply. According to the National Biodiesel Board, biodiesel decreases the price of soy protein meal $20-40 per ton by creating a market and value for unwanted soybean oil. This helps decrease feed prices for livestock producers and ultimately helps consumers in the price they pay for meat.
Perhaps best of all, New York State will pay you to use Bioheat® fuel. Bioheat® fuel consumers who live in residential buildings, including single- and multi-family homes, apartment buildings, co-ops and condos are eligible to receive a New York State tax credit of up to 20 cents per gallon of Bioheat® fuel used, calculated at one cent per percentage of biodiesel in the blend, between B6 (6 percent biodiesel, or 6 cents per gallon) and B20 (20 percent biodiesel, or 20 cents per gallon). This means for every 1,000 gallons of B20 blend you use, you'll save $200. This tax credit has been in effect since 2012, and remains in effect through 2020. It may even be credited retroactively. To receive your tax credits, you must file NY State Form IT-241 along with your income tax return. Please consult with your accountant or tax professional.