WASHINGTON – December 5, 2024 – The U.S. Department of the Treasury yesterday evening issued final rules outlining which types of energy property investments are eligible for clean energy tax credits, including Qualified Biogas Property, implementing amendments made by the Inflation Reduction Act of 2022. Patrick Serfass, Executive Director of the American Biogas Council, issued the following statement in response:
“We thank the Treasury Department for creating sensible rules that reflect the realities of how biogas systems are built. These rules will give biogas developers certainty on the eligibility of their project investments for tax credits available to clean energy projects.
“The final rules are aligned with the intent of lawmakers as put forth in the Inflation Reduction Act of 2022 (IRA), and they will help biogas businesses provide more domestic, renewable energy while providing economic benefits to communities across America.
“We look forward to working with the new Congress and the Trump administration on preserving these valuable tax incentives.
“By harnessing energy from organic material that would otherwise be wasted, biogas producers simultaneously reduce methane emissions while creating renewable natural gas (RNG) or electricity. There are currently about 2,400 biogas projects in operation in America today, compared to a potential 24,000. The clarity and certainty provided by these final rules will allow business to expand their work to recycle waste in this way.”
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