John Podesta, senior adviser to President Biden on international climate policy.
US finalises hydrogen tax credit rules
A greater number of projects will be eligible for 45V tax credits following a long period of industry consultation
The US Treasury has released final rules for the section 45V hydrogen production tax credit established by the 2022 Inflation Reduction Act (IRA). The long-awaited rules clarify the eligibility of producers of blue, green and pink hydrogen—as well as hydrogen from renewable natural gas (RNG) and coal-mine methane—to receive the credits, which are the nation’s primary financial incentive for supporting low-carbon hydrogen production. The level of tax incentive received by a project is dependent on the amount of greenhouse gases (GHGs) released during the hydrogen production process, including by the generation of any electricity used to power electrolysers. There are four tiers to the incenti
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