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IRFA: Strong year for ethanol in ‘23

The executive director of the Iowa Renewable Fuels Association says 2023 was a good year for the ethanol industry.

Monte Shaw tells Brownfield movement from the EPA on E15 finally took place towards the end of the year. “With the rule going over to the White House, that hopefully can be finalized and get E15 year-round at least in eight Midwestern states. Maybe that will trigger something more on the national front in Congress. We can hope.”

He says another milestone came when the U.S. Treasury Department allowed the Greenhouse Gases, Regulated Emissions and Energy Use in Technologies (GREET) model to be used for sustainable aviation fuel tax credits included in the Inflation Reduction Act.

“Many, many of our domestic and foreign markets are valuing low carbon fuels. Whether you think that’s awesome or whether you think that’s silly doesn’t really matter because that’s your customer, right? So our companies need to be aligning themselves to make those low carbon fuels to stay viable and to stay in business.”

Shaw says there’s increasing optimism for the ethanol industry in 2024.