§ 143-58.4. Energy credit banking and selling program. - North Carolina Statutes

§ 143‑58.4.  Energycredit banking and selling program.

(a)        The followingdefinitions apply in this section:

(1)        AFV. – A hybridelectric vehicle that derives its transportation energy from gasoline andelectricity. AFV also means an original equipment manufactured vehicle thatoperates on compressed natural gas, propane, or electricity.

(2)        Alternative fuel. – Biodiesel,biodiesel blend, ethanol, compressed natural gas, propane, and electricity usedas a transportation fuel in blends or in a manner as defined by the EnergyPolicy Act.

(3)        B‑20. – Ablend of twenty percent (20%) by volume biodiesel fuel and eighty percent (80%)by volume petroleum‑based diesel fuel.

(3a)      Biodiesel. – A fuelcomprised of mono‑alkyl esters of long fatty acids derived from vegetableoils or animal fats, designated B100 and meeting the requirements of theAmerican Society for Testing and Materials (ASTM) D‑6751.

(3b)      Biodiesel blend. – Ablend of biodiesel fuel with petroleum‑based diesel fuel, designated BXXwhere XX represents the percentage of volume of fuel in the blend meeting therequirements of ASTM D‑6751.

(4)        Department. – TheDepartment of Commerce.

(5)        Energy Policy Act. –The federal Energy Policy Act of 1992, Pub. L. No. 102‑486, 106 Stat.2782, 42 U.S.C. § 13201, et seq.

(6)        EPAct credit. – Acredit issued pursuant to the Energy Policy Act.

(7)        E‑85. – Ablend of eighty‑five percent (85%) by volume ethanol and fifteen percent(15%) by volume gasoline.

(8)        Incremental fuelcost. – The difference in cost between an alternative fuel and conventionalpetroleum fuel at the time the fuel is purchased.

(9)        Incremental vehiclecost. – The difference in cost between an AFV and conventional vehicle of thesame make and model. For vehicles with no comparable conventional model, incrementalvehicle cost means the generally accepted difference in cost between an AFV anda similar conventional model.

(b)        Establish Program.– The State Energy Office of the Department, in cooperation with Statedepartments, institutions, and agencies, shall establish and administer anenergy credit banking and selling program to allow State departments,institutions, and agencies to use moneys generated by the sale of EPAct creditsto purchase alternative fuel, develop alternative fuel refueling infrastructure,and purchase AFVs for use by State departments, institutions, and agencies.Each State department, institution, and agency shall provide the State EnergyOffice with all vehicle fleet information necessary to determine the number ofEPAct credits generated annually by the State. The State Energy Office may sellcredits in any manner that is in accordance with the provisions of the EnergyPolicy Act.

(c)        Adopt Rules. – TheSecretary of Commerce shall adopt rules as necessary to implement this section. (2005‑413,s. 1; 2009‑237, s. 1; 2009‑446, s. 1(g), (h).)