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Arizona makes tax credits available for solar-to-biofuel projects

Arizona Governor Jan Brewer signing SB 2370 into law

Arizona Governor Jan Brewer has signed new legislation that makes tax credits available for projects that use algae to turn sunlight and carbon dioxide into biofuels.

Senate Bill 2370 creates individual and corporate income tax credits for research and development, production and delivery system costs associated with solar liquid fuels.

The new legislation specifies that qualified research includes only research conducted in Arizona, including research conducted at a university and paid for by the taxpayers.

Tax credits will be available from 2011 to 2026.

A signing ceremony, hosted by Arizona State University President Michael Crow, was held at ASU’s Research Park.

Gary Dirks, director of LightWorks, an ASU initiative focused on solar-based energy and other light-inspired research, said passage of the bill is “great news” for the future of Arizona and the renewable energy industry in the United States.

Process

Similar to photosynthesis, solar liquid fuel refers to the process by which concentrated solar energy is used in conjunction with carbon dioxide and water to create hydrocarbons.

In addition to creating combustible fuels like methanol and ethanol, additional processing can potentially yield more traditional fuels like gasoline, diesel and jet fuel.

ASU is leading a national team of researchers that has submitted a proposal to the U.S. Department of Energy to become an Energy Innovation Hub.

The $122-million Hub will explore the research and development of fuels from sunlight and will support cross-disciplinary research and development focused on the barriers to transforming energy technologies into commercially viable materials, devices and systems.

ASU partners in the LightSpeed Solutions project include Sandia National Laboratories, Princeton University, Yale University and the University of Minnesota.

Apologies from BrighterEnergy.org:

Owing to an unusual combination of technical difficulties with our web host service, the original text of this story was lost on June 24, along with our original output from June 18-24, 2010. We have attempted to restore a recovered version, which may be different from the earlier version.