Tuesday, the Iowa Renewable Fuels Association (IRFA) is re-launching the statewide On-Farm Biodiesel Credit program to give back to Iowa farmers. Farmers who buy a biodiesel blend can receive up to 50 cents per gallon for filling an on-farm tank in Iowa used in agricultural operations.
The Iowa Soybean Association and Iowa Biodiesel Board continue to partner with the program, providing $10,000. Biodiesel producers Western Iowa Energy, Western Dubuque Biodiesel and Chevron Renewable Energy Group each contributed $5,000. IRFA provides $20,000 in funding and manages the program.
Farmers will 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. Program funding is limited and will be awarded on a first-come, first-served basis.