July 13, 2023
BY U.S. Department of Energy
As part of President Biden's Investing in America agenda, the U.S. Department of Energy, U.S. Department of the Treasury, and the Internal Revenue Service announced $4 billion in tax credits for projects that expand clean energy, critical materials manufacturing, or recycling. Up to $1.6 billion has been set aside for projects in designated energy and coal communities, ensuring these areas are not left behind in the transition to clean energy technologies. As the nation builds a net-zero economy, the Qualifying Advanced Energy Project Credit (48C) Program aims to play a critical role in reducing industrial emissions, increasing domestic production of critical clean energy products and materials, and creating high-quality jobs.
A qualifying advanced energy project establishes, expands, or re-equips an industrial or manufacturing facility for the production or recycling of specified advanced energy property. This includes equipment designed to refine, electrolyze, or blend any fuel, chemical, or product which is renewable, or low-carbon and low-emission. Based on an assessment of current and anticipated supply chain gaps in areas eligible under the 48C tax credit program, manufacturing of equipment needed for low-carbon sustainable aviation fuel (SAF) is one of the energy supply chain and manufacturing priority areas.
The 48C eXCHANGE portal is open for interested applicants to submit concept papers, due by 12 p.m. ET, on July 31, 2023. Applicants may email infrastructureExchangeSupport@hq.doe.gov for information regarding the registration process or application submissions. Questions or comments regarding non-tax aspects of this notice can be submitted to 48CQuestions@hq.doe.gov. Read more about the Qualifying Advanced Energy Project Credit (48C) Program.
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The U.S. Energy Information Administration maintained its forecast for 2025 and 2026 biodiesel, renewable diesel and sustainable aviation fuel (SAF) production in its latest Short-Term Energy Outlook, released July 8.
XCF Global Inc. on July 10 shared its strategic plan to invest close to $1 billion in developing a network of SAF production facilities, expanding its U.S. footprint, and advancing its international growth strategy.
U.S. fuel ethanol capacity fell slightly in April, while biodiesel and renewable diesel capacity held steady, according to data released by the U.S. EIA on June 30. Feedstock consumption was down when compared to the previous month.
XCF Global Inc. on July 8 provided a production update on its flagship New Rise Reno facility, underscoring that the plant has successfully produced SAF, renewable diesel, and renewable naphtha during its initial ramp-up.
The U.S. EPA on July 8 hosted virtual public hearing to gather input on the agency’s recently released proposed rule to set 2026 and 2027 RFS RVOs. Members of the biofuel industry were among those to offer testimony during the event.