Congress has passed the Inflation Reduction Act
US sets new standard for clean hydrogen support
Passing of Inflation Reduction Act confirms US as one of most competitive green hydrogen markets
The US’ newly passed Inflation Reduction Act (IRA) sets a new standard for state support for clean hydrogen and challenges other nations to ramp up their subsidies amid intensifying global competition for private capital to scale up the industry. Congress passed the act over the weekend, clearing the way for it to be signed into law by President Joe Biden. The Biden administration expects the IRA to unleash about $370bn of investment in energy and climate change schemes. For the clean hydrogen sector, the headline figure is a ten-year production tax credit (PTC) rate that starts at $0.60/kg and potentially rises to up to $3/kg subject to meeting requirements on carbon intensity, staff wage l
Also in this section
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
15 November 2024
Danish electrolyser firm stays focused on US expansion plans amid policy uncertainty in wake of Republican election victory
11 November 2024
Presidency wants declaration from the talks to include specific measures on enabling hydrogen markets
