Illinois State Sen. Dave Koehler, D-Peoria, discusses SB 1556 during a subject matter hearing held by the Illinois Senate Committee on Energy and Public Utilities. / SOURCE: Office of Illinois Sen. Dave Koehler
March 27, 2024
BY Erin Voegele
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SAF offers a significant opportunity for growth in the biofuel sector and a new revenue stream for farmers, but realizing that potential will depend on the establishment of favorable policies and adequate incentives, according to CoBank.
The USGC recently released a set of infographics designed to share the environmental and financial benefits of ethanol, the carbon reduction assessment models for SAF and a map displaying ethanol blending policies around the world.
Rep. Brad Schneider, D-Ill., on Oct. 22 introduced the Expanding Clean Fuel Production Act. The bill aims to extend the 45z clean fuel production credit for 10 additional years, through 2037. The credit is currently in place through 2027.
E2 on Oct. 15 released a new analysis on the Inflation Reduction Act’s impact along with a survey of more than 900 businesses that indicates repealing or rolling back the IRA’s provisions would result in losses, layoffs and closures.
The U.S. Treasury Department and IRS on Oct. 18 issued additional guidance for the 40B SAF tax credit. The new guidance, Notice 2024-74, addresses the use of an updated 40BSAF-GREET 2024 model released by the U.S. Department of Energy in October.