Environmental groups, other lawmakers and the administration, however, say the restrictions are necessary to ensure hydrogen subsidized by the credits doesn’t actually increase greenhouse gas emissions.
Environmental groups and the administration say the restrictions are necessary to ensure hydrogen subsidized by the credits doesn’t actually increase greenhouse gas emissions.
The U.S. Treasury Department has proposed tax rules to ensure that hydrogen power plant electrolyzers in this country don’t siphon clean electricity from the grid that must be replaced by ramping up coal and gas power plants. The proposed rules are drawing fire from industry.
Hydrogen tax rules draw fire from industry - The Cherry Creek News thecherrycreeknews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thecherrycreeknews.com Daily Mail and Mail on Sunday newspapers.
The U.S. Department of the Treasury and the IRS on Dec. 22, 2023, released proposed regulations regarding the production tax credit (PTC) for hydrogen under Section 45V of the Internal.