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
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Proposed Clean Hydrogen Production Credit regulations aim to boost clean energy industry The Treasury and Internal Revenue Service have issued proposed regulations in connection with implementing the Clean Hydrogen Production Credit authorized pursuant to the Inflation Reduction Act (IRA). The credit aims to make production of clean hydrogen with minimal climate pollution more economically competitive and accelerate development of the U.S. clean hydrogen industry, as noted in a Treasury Department press release. Policy objectives. While clean hydrogen holds considerable potential to reduce emissions across a range of sectors and applications, the Treasury Department also acknowledges that currently, hydrogen production typically results in significant climate pollution. The proposed regulations aim to advance the development of a robust U.S. clean hydrogen industry that reduces carbon emissions, while also creating good-paying jobs, according to the department. This story can be read in its entirety (no paywall) on the Wolters Kluwer Vital Law site at https://lnkd.in/gJHb8sRe. As reported by Brad Rosen. #InflationReductionAct #TreasuryDepartment #IRS #CleanHydrogen #GreenHouseGasEmissions
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A leaked draft of the U.S. Treasury’s guidance for clean hydrogen producers reveals stricter requirements for tax credits, invoking concerns across the industry. Learn more: https://lnkd.in/gNN-9RTn #hydrogennews #cleanhydrogen #hydrogenregulations #hydrogeninfrastructure
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We now have proposed US regulations on the hydrogen storage investment tax credit (released just before Thanksgiving) and on the clean hydrogen production tax credit (released just before Christmas). The combined rules will govern the key US hydrogen subsidies and will therefore have a huge impact on whether or not hydrogen becomes a core component of the world's energy mix. I certainly hope so. We will be working through the rules and their implications as fast as we can. Stay tuned. #45v #cleanhydrogen #hydrogenITC #hydrogen #H2 #hydrogeneconomy #H2economy #cleanH2economy #cleanhydrogeneconomy #hydrogenenergy #h2energy #hydrogenpower #h2power #hydrogenstorage #h2storage #hydrogenproduction #h2production #cleanenergy #cleanhydrogen #cleanh2 #hydrogennow #h2now #hydrogeneration #h2generation #hydrogenecosystem #h2ecosystem #h2future #energytransition #hydrogenstrategy #hydrogennews #h2news #fuelcells #hydrogenfuelcell #hfc #cleanelectricity #fcev #fuelcellelectricvehicle #hydrogenmobility #h2mobility #hydrogenaviation #h2aviation #kingandspalding #teamhydrogen #teamh2 #ksteamhydrogen #ksteamh2 #inflationreductionact #45V #HydrogenPTC #cleanhydrogenPTC #h2ptc #cleanh2ptc #greenhydrogen #greenh2 #bluehydrogen #blueh2 #whitehydrogen #whiteh2 #orangehydrogen #orangeh2 #pinkhydrogen #pinkh2 #purplehydrogen #purpleh2 #hydrogenITC #geologichydrogen #hydrogensubsidies #h2subsidies #h2hubs #hydrogenhubs #hydrogenfunding #departmentofenergy #hydrogène #wasserstoff #suiso #hidrógeno #idrogeno
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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
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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
natlawreview.com
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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
natlawreview.com
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- 🔉 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 👈
Hydrogen Industry Urges for Simplified Access to US Tax Credits - Green Hydrogen News
https://energynews.biz
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The U.S. Department of the Treasury has finally released the details of the #hydrogen Production Tax Credit 45V. Additionality, hourly temporality, and geographic requirements are in place, including rules on RNG. There were always going to be trade offs to balance incentivizing early investments for technology growth vs requiring strict rules adherence in the long run and complexity vs ability to regulate. What’s important is the rules of the playing field are now set, and a wave of investment can follow. #hydrogen #policy
US finally publishes long-delayed clean hydrogen guidelines, setting path for developers to access vital tax credits
hydrogeninsight.com
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Assistant Professor for Economic Sciences at various Universities, hold the chair for sustainability and renewable energies. Book about Hydrogen in preparation. Reviewer for World Climate Council IPCC.
https://lnkd.in/e3ruG2jH Clean Energy Group Statement on Treasury Department Hydrogen Tax Credit Guidance On Friday, December 22, the US Treasury Department released initial guidance regarding the Inflation Reduction Act’s (IRA) clean hydrogen (45V) tax credit program.Clean Energy Group(CEG) applauds the Treasury’s decision to follow the guidance ofclimate scientists,environmental justice advocates, andtechnical expertsand apply appropriately strict standards to ensure that the 45V tax credit incentivizes truly clean hydrogen production that will not lead to a dangerous increase in greenhouse gas emissions.
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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
Breaking Down the Section 45V Clean Hydrogen PTC Proposed Regulations | Insights | Holland & Knight
hklaw.com
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