We have been watching and waiting for the GREET model to be released. It is necessary to have an updated version of it to produce Sustainable Aviation Fuel (SAF) and the credits that will be assessed to different practices to help lower carbon scoring on the fuel’s production and the tax benefits and credits that would go along with that.
Today’s announcement also begins to include sustainable agriculture practices.
U.S. Agriculture Secretary Tom Vilsack addressed the NAFB Washington Watch attendees and explained how the process would work.
Vilsack says the question was how climate-smart agriculture practices qualified for sustainable aviation fuel production.
Vilsack says that this is the first time the IRS has recognized what tax credits are going to be available to producers for climate-smart ag.
The Secretary says this first rollout is going to be the base upon which they build for the future starting in 2025.
