The Digest’s 2026 Multi-Slide Guide to the 45Z Policy Cliff

Although the OBBBA extended the 45Z clean fuel production credit to 2029, a critical tenor mismatch survives because SAF project debt requires 10-to-15-year horizons. The immediate economic blow is the SAF rate cut to $1.00 per gallon, compounding the urgency of the accelerated 45V hydrogen credit deadline in 2027. To secure bankability, sponsors must underwrite strictly to the 2029 statutory window, relying on policy-contingent debt structures, bridge financing, and robust change-in-law risk sharing in long-term offtake contracts.  <!–nextpage—>  <!–nextpage—>  <!–nextpage—>  <!–nextpage—>  <!–nextpage—>  <!–nextpage—>  <!–nextpage—>  <!–nextpage—>  <!–nextpage—>  <!–nextpage—>  <!–nextpage—>  <!–nextpage—>  <!–nextpage—>  <!–nextpage—>  <!–nextpage—>

Category: Multi-Slide Guides