Forget the pump. Brew your own fuel.

While researching the greening of transportation that I reported on earlier this week, I came across an incredible new product, the EFuel100 MicroFuelerTM. This incredibly beautiful “appliance” lets you make your own fuel.

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A self-contained micro-refinery, the EFuel100 makes environmentally friendly ethanol at about $1 a gallon. Both a pump station and an ethanol distiller, it uses sugar to produce up to 35 gallons of ethanol per week. At a cost of $9,995 not including a 30% federal tax rebate for business owners or a $1,000 rebate for individual non-business owners, at current gas prices it could pay for itself in just a couple years. There also may be other credits, which vary by state. The U.S. Dept. of Energy lists state-by-state rules for ethanol-related incentives and laws. Its no surprise that ID Magazine, which just named the EFuel100 as the best green product in New + Notable 2008: The Year’s Smartest Products, reports that commercial customers with delivery-truck fleets account for 65% of sales.

The MicroFueler starts shipping in the fourth quarter of 2008.