MN Bio-Fuels Statement On Treasury’s Recognition Of GREET Model In SAF Tax Credit Guidance

  • Friday, 15 December 2023 11:50

The US Department of the Treasury will include an updated lifecycle greenhouse gas emissions model from the U.S. Department of Energy’s Argonne National Laboratory known as the Greenhouse gases, Regulated Emissions, and Energy use in Technologies (GREET) as one of the methodologies that farmers and biofuel producers may use to determine eligibility for the Sustainable Aviation Fuel (SAF) tax credit under the Inflation Reduction Act. 

In guidance released today, the Treasury said the updated GREET model will be released by the Department of Energy and other collaborating federal agencies including the Department of Agriculture by March 1, 2024. 

Minnesota Bio-Fuels Association’s executive director, Brian Werner, said: “The Minnesota Biofuels Association greatly appreciates the Biden Administration’s recognition that the most up-to-date science on lifecycle greenhouse gas emissions – as reflected in the Department of Energy’s Argonne National Laboratory’s GREET model – can be used to determine eligibility for SAF tax credits. 

“We look forward to working with the Administration and the Minnesota congressional delegation to ensure that the pending revisions to the GREET model announced in today’s guidance fully acknowledge climate-smart agricultural practices and other biofuel carbon reduction technologies, and do not place disproportionate land use penalties on biofuel feedstocks. Overall, this decision is a positive step forward in opening the door for Minnesota’s farmers and biofuel producers to meaningfully contribute to the Administration’s goal of producing 3 billion gallons of SAF by 2030.”