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Growth Energy Statement on 45Z Guidance
WASHINGTON, D.C.βGrowth Energyβthe nationβs largest biofuel trade associationβissued the following statement after the U.S. Treasury released itsΒ long-awaited 45Z guidance (the Clean Fuel Production Credit).
βThis long-overdue guidance is far from completeβit still lacks the critical details that are needed to help ensure that American biofuel producers and their farm partners can lead the world in clean fuel production,β said Growth Energy CEO Emily Skor. βWhile we appreciate the work of Secretary Vilsack to champion our issues on behalf of rural America, todayβs announcement falls short of providing the information that our industry and its farm partners need, including a model for an expanded number of eligible decarbonization technologies and guidance on climate smart agriculture (CSA) practices.
βWe look forward to working with the next Administration to fill in the gaps left by todayβs announcement and to ensure this economic opportunity for the struggling farm economy is not left on the table. Demand for low carbon energy will continue to grow with or without us, and we need strong policy support in order to unleash the kind of investments that will position the U.S. for leadership in this market. Todayβs guidance does not satisfy that need.β
Learn more about the importance of 45Z guidance and other tax incentives here.
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