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U.S. jet fuel currently retails at around $2.85 per gallon while SAF prices are at $6.69 per gallon, as per data from commodities and energy pricing agency Argus Media.
This financial incentive for algae biofuel research has facilitated the creation of many algae strains that can be converted to fuel. Current economic assessments cite large-scale pond-cultivated algae fuel prices ranging from at $0.42 to $7.50 per Liter. [4]
If existing algae projects can achieve biodiesel production price targets of less than $1 per gallon, the United States may realize its goal of replacing up to 20% of transport fuels by 2020 by using environmentally and economically sustainable fuels from algae production. [137]
Producers of biodiesel can claim a tax credit of $1.00 per gallon. As of this bill, the $1.00 credit applied to new agricultural-based biodiesel. A credit of 50 cents per gallon was applied to used feedstocks, such as fryer grease. Expired December 31, 2009. [8] Second, section 1345 establishes the Small Agri-Biodiesel Producer Credit.
By 2019, fossil jet fuel production cost was $0.3-0.6 per L given a $50–100 crude oil barrel, while aviation biofuel production cost was $0.7-1.6, needing a $110–260 crude oil barrel to break-even. [19] As of 2020 aviation biofuel was more expensive than fossil jet kerosene, [1] considering aviation taxation and subsidies at that time. [72]
The Voyager Ethanol plant in Emmetsburg, owned by POET, LLC, will be converted from a 50-million-US-gallon-per-year (190 × 10 ^ 3 m 3 /a) conventional corn dry mill facility into a 125-million-US-gallon-per-year (470 × 10 ^ 3 m 3 /a) commercial-scale biorefinery producing ethanol from not only corn but also the stalk, leaves, and cobs of the ...
The current national gas price average is $3.62 per gallon. The average cost of gas has decreased 15% in the last two years, from when it was $4.27 per gallon.
Biodiesel currently has 3% of the diesel market in Germany and is the number 1 alternative fuel. [17] The German government has a Biofuels Roadmap in which they expect to reach 10% biofuels by 2010 with the diesel 10% coming from fuel made from vegetable oil. [18] From 2005 to 2007 a number of types of vegetable oil have doubled in price.