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U.S. Department of the Treasury Releases Final Rules for Clean Hydrogen Production Tax Credit
Final rules include significant changes and flexibilities to provide investment certainty and drive deployment of clean hydrogen
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Today, the U.S. Department of the Treasury (Treasury) and Internal Revenue Service (IRS) released final rules for the section 45V Clean Hydrogen Production Tax Credit established by the Inflation Reduction Act. The final rules include significant changes and flexibilities that address several key issues to help grow the industry and move projects forward, while adhering to the law’s emissions requirements for qualifying clean hydrogen. With the inclusion of these changes, the final rules provide clarity, investment certainty, and flexibility, including for participants in projects planned as part of the U.S. Department of Energy’s Regional Clean Hydrogen Hubs program.
The final rules announced today clarify how producers of hydrogen, including those using electricity from various sources, natural gas with carbon capture, renewable natural gas (RNG), and coal mine methane can determine eligibility for the credit. To qualify for the full credit, projects must also meet prevailing wage and apprenticeship standards, continuing the Biden-Harris Administration’s commitment to put workers at the center of the clean energy economy and ensure clean energy jobs are good-paying jobs.
Read more about Treasury’s announcement.
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