Into H2? A detailed breakdown of 45V below from the superstar energy tax team at Holland & Knight LLP. They make it look easy, but no one has their depth! #cleanhydrogen
Lots of information to wade through in the #Section45V #cleanhydrogen proposed regulations. Our alert is here to help. Comments are due on February 26, 2024. Industry input will be key in ensuring the final regulations incentivize clean hydrogen production as intended by Congress. https://lnkd.in/eCcxvksC
Treasury and IRS Issue Proposed Regulations With Respect to Clean Hydrogen Credits Under Sections 45V and 48 of the Internal Revenue Code https://bit.ly/47ntoWu #hydrogen #cleanenergy #taxcredit
Treasury and IRS Issue Proposed Regulations With Respect to Clean Hydrogen Credits Under Sections 45V and 48 of the Internal Revenue Code https://bit.ly/47ntoWu #hydrogen #cleanenergy #taxcredit
Air Products going forward with projects in the US under IRA guidelines 🇺🇸 "Industrial gases firm Air Products has called for the US government to ignore industry complaints about draft guidelines for the clean hydrogen production tax credit, arguing in the first day of a public hearing that it is already developing projects with these rules in mind — and so should others" via Hydrogen Insight #hydrogeneconomy #hydrogennow https://lnkd.in/e3aJmGDM
Unlocking the potential of clean hydrogen in the U.S. requires transparency on tax credits. As identified in our report Fueling Up: How to Make U.S. Clean Hydrogen Projects Happen, the proposed IRS regulations under Section 45V have raised concerns within the industry and caused market uncertainty. Designed to incentivize clean hydrogen production, these regulations require adherence to strict criteria, with eligible credits meeting three criteria: additionality, time matching, and deliverability. However, developers and utilities have voiced concerns on the perceived strictness of the regulations, warning that it will drive up costs and make it harder to fund and construct projects. Further clarity from the IRS on its finalized rule is cautiously awaited. For more information, download the report: https://lnkd.in/gnft_yZc #CleanHydrogen #TaxCredits #IRS #CleanEnergy #IndustryReport
The Treasury Department and #IRS issued a supplemental notice of proposed rulemaking (NPRM) under the Section 45V clean #hydrogen production #taxcredit. The supplemental NPRM provides additional information on the provisional #emissions rate process, and comments are due in approximately 30 days. Read more in this alert from our #Energy #Tax Team. #cleantechnology #renewableenergy Nicole M. Elliott | Amish Shah | Mary Kate Nicholson | Brad Seltzer | Roger Aksamit | Bryan Marcelino | Joshua Odintz | Ken Parsons | Daniel Strickland | Eli Brander | Rachel Provencher
New guidance for the hydrogen production tax credit is out.
The Treasury Department and #IRS issued a supplemental notice of proposed rulemaking (NPRM) under the Section 45V clean #hydrogen production #taxcredit. The supplemental NPRM provides additional information on the provisional #emissions rate process, and comments are due in approximately 30 days. Read more in this alert from our #Energy #Tax Team. #cleantechnology #renewableenergy Nicole M. Elliott | Amish Shah | Mary Kate Nicholson | Brad Seltzer | Roger Aksamit | Bryan Marcelino | Joshua Odintz | Ken Parsons | Daniel Strickland | Eli Brander | Rachel Provencher
See below with the A&O team's thoughts (including those of some of our global colleagues) on new proposed regulations for the US hydrogen tax credit. #hydrogen #energytransition #allenovery https://lnkd.in/gmJSha_Y
Empowering people to create exceptional solutions| radically open-minded| circularity obsessed| yogi
This is interesting as the #hydrogeneconomy is working to scale up. Many new technologies have to operate at a loss until the costs come in line. Wondering what the other impacts might be? The intersection of cost, innovation, government regulations, tax credits, adoption, etc are all a delicate balance as we all make this energy transition together.
EXCLUSIVE | 'We will not claim the US #hydrogen production tax credit on our $4.5bn blue #H2 plant in Louisiana': Air Products Senior executive tells Hydrogen Insight that the facility, which has already reached a final investment decision, will seek a different tax credit for #carboncapture and storage Ivo Bols #bluehydrogen #ccs #ccus #hydrogenproduction #hydrogeneconomy #hydogenstrategy #hydrogenmarket #hydrogentechnology #ammonia #cleanhydrogen #subsidies https://lnkd.in/eRRXZVA2
It’s believed that the hydrogen fuel cell was invented back in 1842, so this is not a new technology. A major break through occurred in the 1990's when fuel cells began to generate power similar to combustion engines. So it’s worth asking, why are we still not seeing hydrogen fuel cars on our roads? The barriers are: lack of charging or refueling infrastructure, the high cost of production and storage of hydrogen (not to mention the optics of using brown energy to create green energy), loss of volume in transportation, lack of financial incentives to edge the market towards adoption, and electric vehicles may have soaked up most of the demand for non-gas powered vehicles making market entry harder.
