Hydrogen industry pleads for easier path to US tax credits

Some companies planning to use new U.S. tax credits to deploy hydrogen projects urged the Treasury Department this week to ease proposed environmental requirements, warning that they could hinder the nascent industry’s takeoff. Treasury and the Internal Revenue Service hosted hearings this week on the guidance they released in December governing implementation of the Clean Hydrogen Production, or 45V, tax credit, one of the most lucrative incentives in the 2022 Inflation Reduction Act. The credit would create a 10-year incentive for clean hydrogen production of up to $3.00/kilogram.

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