Dr. David Novak, PhD.’s Post

The tax credit at issue, known as 45V, is one of many incentives in the 2022 Democratic Inflation Reduction Act to bolster clean hydrogen production. #politics #fossilfuels #energypolicy #cleanenergy https://lnkd.in/eZKkNvf6

Incrementality, temporal matching, and deliverability. . . Here’s our take on the “Three Pillars”

- 🔉 The #US government is offering a #taxcredit for clean #hydrogen production. - ️ ✅ Companies need to meet certain #environmental requirements to get the tax credit. - 💸 The current requirements might prevent some existing #cleanenergy sources from qualifying for the credit. - ♻️ The industry wants looser requirements, while environmentalists want to keep them strict. 👉 FOLLOW EnergyNews.biz 👈

- 🔉 The #US government is offering a #taxcredit for clean #hydrogen production. - ️ ✅ Companies need to meet certain #environmental requirements to get the tax credit. - 💸 The current requirements might prevent some existing #cleanenergy sources from qualifying for the credit. - ♻️ The industry wants looser requirements, while environmentalists want to keep them strict. 👉 FOLLOW EnergyNews.biz 👈

- 🔉 The #US government is offering a #taxcredit for clean #hydrogen production. - ️ ✅ Companies need to meet certain #environmental requirements to get the tax credit. - 💸 The current requirements might prevent some existing #cleanenergy sources from qualifying for the credit. - ♻️ The industry wants looser requirements, while environmentalists want to keep them strict. 👉 FOLLOW EnergyNews.biz 👈

Today, the U.S. Department of Energy (DOE) opened the process for determination of a provisional emissions rate (PER) in support of the U.S. Department of the Treasury’s implementation of 45V (the Clean Hydrogen Production Tax Credit) enacted by the Inflation Reduction Act (IRA). The process opening today is for taxpayers whose hydrogen production technology and/or feedstock is not included in the most recent version of the 45VH2-GREET emissions model. These taxpayers can use the Emissions Value Request Process to request an emissions value from DOE, which is necessary to petition the Internal Revenue Service for a determination of a provisional emissions rate. Huge congratulations to so many involved at DOE, Treasury, EPA, other agencies, EOP, in getting this released and to numerous stakeholders dedicated to advancing clean hydrogen technologies. See below:  https://lnkd.in/edtYnEWe

U.S. Department of the Treasury’s proposed #45V hydrogen tax credit rules are raising questions about the kind of regulations that are needed for low-carbon hydrogen to actually progress in the US. Many industry leaders advocate for more flexible rules to accommodate varying project needs, emphasizing the importance of specific, customizable carbon intensity characterization. More from Velda Addison in Hart Energy: https://lnkd.in/gW3BY4Zd #hydrogen #45vtaxcredit #inflationreductionact

While the U.S. Department of the Treasury’s 45V tax credits are intended to catalyze the still-nascent low-carbon hydrogen industry in the U.S., a new Wood Mackenzie-ACP study finds the Administration’s proposed guidelines will stifle green hydrogen deployment by making it too expensive. Get the facts: https://bit.ly/3wvCXpI

A recent study emphasizes the importance of incorporating location-based criteria into the Inflation Reduction Act (IRA) tax credit eligibility for blue hydrogen production. The study argues that such criteria can significantly enhance the environmental and economic benefits of blue hydrogen by ensuring that production facilities are situated in regions where they can maximize carbon capture and storage (CCS) efficiency and minimize transportation emissions. Key Insights: Regional Optimization: By prioritizing locations with optimal geological conditions for CCS, the overall carbon footprint of blue hydrogen production can be reduced. Economic Benefits: Location-based criteria can stimulate local economies by creating jobs and fostering technological advancements in regions best suited for blue hydrogen production. Policy Recommendations: The study suggests that policymakers should integrate these criteria into the IRA to ensure that the tax credits drive sustainable and efficient hydrogen production practices. Implementing these recommendations could position blue hydrogen as a cornerstone of the clean energy transition, aligning economic incentives with environmental goals. What impact do you think these recommendations will have on the Texas market? Share your thoughts!

Find out what you need to know about recently proposed US clean hydrogen tax credit regulations. Our team summarizes the key points in their new analysis. #CleanEnergy #TaxCredit #Hydrogen