Part 1: Growth Energy Assisting in Renewable Fuel Credit Policy Development

Today is part one of a two-part series focusing on renewable energy policy. The Inflation Reduction Act is a focus for Growth Energy as it contains a number of renewable fuel credit provisions in that act, growth energy. General Counsel Joe Kakesh says that now, it's all about the details.

“It's one thing for a statute to articulate a benefit for particular fuel type of a particular time period. But it's still incumbent upon the Treasury Department to create guidance and regulations to really clarify eligibility for those credit, those credits, the amount of the credit, and so forth. And so what we're doing now is trying to let Treasury understand the right way to model the greenhouse gas emissions benefits of biofuels so that those those credits can be taken advantage of. So just to give you an example, for most of these credits, you have to show that fuel type whether it's sustainable aviation fuel, or renewable fuel generally reduces greenhouse gas emissions by a certain percentage.”

Kakesh points out that the Treasury Department is not an environmental agency, nor does it engage with the science of greenhouse gas emissions. Therefore, Growth Energy has to make its voice heard.

“A long discussion of repeated discussion with Treasury and also with Department of Energy Department, transportation, EPA, USDA to make sure that our voices heard about what the science says about the benefits of our industry.”

Growth Energy is submitting comments and being a part of every step of the rulemaking process according to Kakesh.