Well, 'The Fiscal Cliff' theater was played out in Washington, and Congress included renewable energy in the final bill. According to the Renewable Fuels Association, the deal includes one-year tax-credit extensions for cellulosic biofuels, biodiesel, renewable diesel and algae-based fuel. The cellulosic bonus depreciation, which allows biofuel companies to expense up to half of their eligible capital costs in their first year, was also given a one-year extension. These advanced biofuels applications are critical for the U.S. to evolve its biofuels reliance onto non-foodstuff sustainable biomass – both wastes and non-arable land crops.
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