As the fall harvest grows closer, funding has more than tripled for a new statewide On-Farm Biodiesel Credit program to give back to farmers using biodiesel on their farms.
The program, launched in August by the Iowa Renewable Fuels Association, refunds farmers up to 50 cents per gallon for buying biodiesel blends.
Originally funded at $10,000, the Iowa Soybean Association and Iowa Biodiesel Board have joined as partners, providing another $10,000 to the program. In-state biodiesel producers Western Iowa Energy, Western Dubuque Biodiesel and Chevron Renewable Energy Group have each contributed $5,000, bringing total available funds to $35,000.
Under the program, farmers can earn 25 cents-per-gallon for filling up with B11 (11 percent biodiesel) and 50 cents-per-gallon with B20 (20 percent biodiesel), up to a maximum credit of $500.
"We welcome the generosity of additional partners for the On-Farm Biodiesel Credit program. It underscores the strong support both for our state's farmers and for biodiesel," said Lisa Coffelt, IRFA marketing director. "Biodiesel not only adds value to soybean oil, but also corn oil and animal fats, so it's a win for agriculture any way you look at it."
To be eligible, farmers must purchase blends for an on-farm tank in Iowa actively used for an agricultural operation. Program funding is awarded on a first-come, first-served basis.
Categories: Iowa, Energy