A Cleaner Energy Future for New Jersey Lies Ahead
If you’re among the many people in New Jersey who live in an oil-heated home, there’s a good chance that your heating oil company delivers a product that contains renewable ingredients that are making a significant impact in reducing greenhouse gas emissions.
That’s because many heating oil companies in New Jersey now deliver Bioheat® fuel. This is renewable biodiesel fuel blended with ultra-low sulfur heating oil. Bioheat fuel helps contribute to lower greenhouse gas emissions because it burns more cleanly than traditional heating oil. This also saves you money because of improved heating efficiency.
Bioheat® fuel is not just helping to reduce carbon emissions right now. It will continue to reduce more emissions each year as it eventually evolves into B100, an all-biofuel, no-petroleum, home heating fuel.
It’s estimated that widespread regional use of Bioheat fuel already prevents more than 1.5 million tons of carbon dioxide emissions from polluting the atmosphere every year. Those emissions will shrink even further as the ratio of biodiesel blends gets higher in the years ahead.
That time will arrive sooner than you may think. It was recently announced that production of fully warrantied oil burners with B100-compliant components has now become a reality.
NORA Shows the Way with Its Net-Zero Home
The National Oilheat Research Alliance (NORA) continues to pursue research with other partners on making B100 Bioheat fuel a reality.
NORA has been a leader in the transition to low carbon liquid fuels in the home heating sector for decades through testing and promoting the use of the advanced biofuel that’s combined with traditional heating oil. NORA’s liquid fuels research laboratory in Plainview, NY is among the leading facilities in the U.S. conducting this type of research.
As an example, NORA has demonstrated that a home heated with 100% biodiesel and using solar panels to produce electricity can reach net-zero carbon emissions quickly — and at an economically viable cost.
How Bioheat Fuel Decarbonizes Your Home
Bioheat fuel’s already low carbon emissions are considered recycled carbon since that carbon becomes fully absorbed by the plant materials contained in biodiesel.
In contrast, when traditional fossil fuels that do not contain biodiesel are burned, they take carbon that was originally stored in the ground and release 100% of that carbon into the atmosphere, where it will remain for decades.
Save $600 with Federal Tax Credits
Homeowners can now claim a federal tax credit of $600 for installing ENERGY STAR-certified heating oil systems that use renewable fuel blends of at least 20% biofuel.
Since many full-service heating oil companies in New Jersey install high-efficiency heating oil systems compatible with Bioheat fuel, there is a good chance you can qualify for this tax credit! Please reach out to your heating oil company to get started. It’s also a good idea to speak with your tax professional to learn how you can apply these tax credits to your next federal income tax return.
There are long-term savings for equipment upgrades too. A new heating oil system should help you save 20% or more on your annual heating costs.
The inclusion of tax credits for heating equipment powered by liquid renewable fuels provides validation by Congress that advanced biofuel (also known as biodiesel) can reliably eliminate carbon emissions from homes.
Read more about Bioheat fuel.