Leading the charge in the biofuels sector, Growth Energy recently approached the U.S. Internal Revenue Service (IRS). Their objective is to ensure American bioethanol producers are considered for the sustainable aviation fuel (SAF) tax incentives, a part of the Inflation Reduction Act (IRA).
Growth Energy's pitch is straightforward. The criteria for SAF certification should be laser-focused on the reduction of lifecycle greenhouse gas (GHG) emissions. They argue that the current prerequisites set by the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) could be overly demanding for several SAF manufacturers.
Growth Energy's CEO, Emily Skor, highlights the untapped promise of the SAF domain for American entities. In her view, it's imperative that regulatory policies duly recognize bioethanol's immense potential. Reflecting this belief, numerous association members have channeled significant resources into SAF's production.
It's worth noting that Growth Energy's advocacy isn't a one-off event. Over the past year, they've reached out to the U.S. Treasury Department five times, driving home the message that bioethanol deserves prime attention in SAF-centric tax guidelines.
Source : wisconsinagconnection