Today, NASF delivered a letter to Senators Stabenow, Schumer, Manchin, and Wyden and USDA Secretary Vilsack in support of a policy proposed for inclusion in a revised reconciliation package. The proposed policy, which would give Bioenergy with Carbon Capture and Storage (BECCS) technology the same level of support in the 45Q tax credit as other carbon removal technologies, would benefit market development and improve forest health.
This modification will effectively enable the creation of a new U.S. end-to-end BECCS industry with significant benefits for our nation’s forests and the communities that depend on them, including:
- Creation of thousands of new jobs across the forestry supply chain, putting the industry at the heart of efforts to sustainably power our country and economy
- Enhanced markets and additional revenue streams for forest landowners
- Increased demand for sawmill residues, such as chips, shavings, and sawdust, and for non-commercial forest management practices, such as forest thinnings
- Decreased burning or decomposition of forest residues following forestry management activities and decreased tree mortality due to poor forest management, in effect reducing carbon emissions
Under current 45Q proposals, Direct Air Capture is set to receive $180/ton of carbon removed from the atmosphere, while BECCS is only set to receive $85/ton. We request that BECCS be supported at the same level as Direct Air Capture. BECCS technology provides the same carbon sequestration benefits, while also reducing the potential for forest-based carbon emissions (i.e. tree mortality caused or exacerbated by wildfire, insect and disease infestation, etc.). At this level of tax support, our industry partners would be in a position to deploy BECCS facilities in the U.S. immediately.
Read the letter in full by clicking the link below.