US Deparment of Treasury Releases Guidelines on Tax Credits for SAF under Inflation Reduction Act
by Wendy Delaney, Amanda Luhavalja
Most ethanol produced in the US does not currently meet the standard for sustainable aviation fuel credits established by the Inflation Reduction Act of 2022 – but that could change in coming months, according to guidance released Dec. 15 by the US Department of the Treasury and the Internal Revenue Service.
The Department of Energy and other agencies will collaborate to update the current core Greenhouse Gases, Regulated Emissions, and Energy Use in Transportation (GREET) model in early 2024 so that it can be used for calculating SAF credits.
The guidance also created a “safe harbor” for SAF components that generate certain renewable identification numbers (RINs) under the current Renewable Fuel Standard.
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