Environmental tax breaks ease technology costs – in the U.S.
VANCOUVER — Westport Innovations revealed the United States Internal Revenue Service (IRS) has confirmed tax credit eligibility for buyers of Westport’s liquefied natural gas (LNG) system for heavy-duty Class 8 trucks.
“This significant tax credit makes Westport’s heavy-duty LNG truck systems not only the most powerful alternative fuel solution available in the US, but also the most economical choice,” said Michael Gallagher, Westport’s president and COO. “In addition to the tax advantage, buyers will benefit from a fast payback on the system cost because of the lower cost of natural gas fuelling.”
The B.C.-based manufacturer’s LNG system for heavy-duty trucks offers an industry solution for reduced greenhouse gas emissions compared to diesel, while maintaining all the horsepower, torque, and efficiency of a diesel-fuelled engine that is required in heavy-duty truck applications.
The Westport engine is fuelled with LNG – a safe, cost effective, low carbon, and low emissions fuel. The emissions-certified Westport LNG system is available with 400 and 450 horsepower ratings and up to 1,750 lb.-ft. torque for heavy-duty port, freight, and other commercial truck applications.
The Westport LNG engine offers environmental advantages of significantly lower oxides of nitrogen – or NOx – and greenhouse gases than the newest diesel trucks, even those using biodiesel blends, reported the manufacturer.
Customers may be eligible for tax credits of US$28,800 per truck equipped with the Westport LNG system, as calculated based on the Alternative Fuel Motor Vehicle Credit, part of the Energy Policy Act of 2005. Some limitations to the credit may apply, depending on the specific circumstances of the customer, and it is recommended customers contact the IRS or a tax advisor to determine if and how the tax credit will apply to their truck purchase.
Have your say
This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.