Approved Oil promises to provide intelligent energy solutions that drive down costs while promoting efficiency and enhancing comfort. We also do our part to be a positive influence in the community, economy and environment. Being committed as ever to each individual aspect of our dynamic, Approved will never waiver from our core beliefs and values. While maintaining tradition, we are always exploring and incorporating the latest energy trends to our wide array of products/services. The latest addition to our family of commodities is the clean and green line of Bioheat® fuels!
What is Bioheat® Fuel?
Bioheat® fuel is a renewable, green, environmentally conscious fuel produced from a variety of renewable resources, such as plant-derived oils, making it one of the most sustainable fuels on the planet.
Bioheat® fuel blends can range between 2% and 5%. A Bioheat® fuel blend with 2% biodiesel is referred to as B2, a blend with 5% biodiesel B5, and so on up to B100, which is pure biodiesel. Bioheat® fuel dealers can offer blends as high as 20% (B20), but most deliver blends between 2% and 5%. Please consult your dealer on what blend percentage they deliver.
Biodiesel is defined as mono-alkyl esters of long chain fatty acids derived from vegetable oils or animal fats which conform to ASTM D6751 specifications for use in diesel engines. Biodiesel refers to the pure fuel before blending with diesel fuel. Biodiesel blends are denoted as, "BXX" with "XX" representing the percentage of biodiesel contained in the blend (ie: B20 is 20% biodiesel, 80% petroleum diesel).
Bioheat® fuel is good for the earth, our country, your heating system and you. Best of all, you can now qualify for a New York State tax credit of 20¢ per gallon when you use Bioheat® fuel!
New York Clean Heating Fuel Tax Credit
Because Approved Oil delivers clean, green Bioheat® fuel, our customers have the opportunity to claim the New York Clean Heating Fuel Tax Credit. To claim the credit, you must fill out and file Form IT-241 with your annual income taxes.
You are entitled to this refundable credit if:
- You or your business purchased Bioheat® fuel to be used for space heating or hot water production for residential purposes within New York State. Bioheat® fuel purchased on or after January 1, 2017, must contain at least 6% biodiesel per gallon of Bioheat® to qualify for the credit. All Bioheat® fuel purchased in 2016 qualifies for this year's tax credit, regardless of biodiesel percentages.
To find out exactly how much biodiesel is in your Bioheat® fuel, give us a call or contact us online. The percentage of biodiesel included in the Bioheat® fuel is the number or numbers preceded by the letter B in the Bioheat® fuel designation. For example, B10 Bioheat® fuel contains 10% biodiesel.
How much is the credit?
- The credit is equal to one cent for each percent of biodiesel per gallon of Bioheat® fuel purchased before January 1, 2020. It may not exceed 20 cents per gallon.
Example: On February 1, 2017, you purchase 250 gallons of Bioheat® fuel to be used for residential heating purposes within New York State. The Bioheat® fuel contains 20% biodiesel (B20). The amount of credit allowed for this purchase is $50.00 ($0.20 X 250 gallons).
These new and improved ASTM-approved blended fuels are the future! Going green is becoming increasingly vital to the future of our environment and quality of life. Bioheat® fuel and diesel is already making a particularly significant difference in issues such as climate change, emissions, and air quality. Studies have shown greenhouse gas emission reductions directly related to biodiesel to be at least 57%, and decreases upwards of 86% when compared to petroleum diesel. This fairly new commodity is also responsible for less dependency on foreign fuels and decreased usage of drilling/fossil fuels. This industry is already currently responsible for over 62,000 U.S. jobs, billions of dollars in combined incomes, tax revenues, and GDP.
Heating System/Vehicle Benefits
ASTM approved blend percentages help protect the consistently safe operation of heating systems and vehicles. Bioheat® fuels assist in enhancing the longevity of your equipment, as well as improved consumption efficiency which reduces costs. The high lubricity of this commodity is a prime factor in the aforementioned benefits.
With our automatic delivery service, you can relax and enjoy your comfortable home, knowing that Approved Oil has your fuel needs covered. Our experienced drivers, many of whom are longtime employees, respect your property and keep everything neat when they make a delivery. To open an Oilheat account, contact us.
If you are an Automatic Delivery customer and you think you might need more oil before your next delivery, you can request a delivery.