WASHINGTON (AP) The Biden administration released its highly anticipated proposal for doling out billions of dollars in tax credits to hydrogen producers Friday, in a massive effort to build out an industry that some hope can be a cleaner alternative to fossil fueled power. The U.S. credit is the most generous in the world […]
The Biden administration proposed Inflation Reduction Act guidance, significantly restricting which kind of hydrogen power will receive generous tax incentives.
Producers of hydrogen energy would have to comply with strict climate rules to qualify for a lucrative tax credit under new proposed guidelines from the Treasury Department. The Biden administration and climate advocates say these guidelines would ensure the nascent power source develops in a sustainable way rather than becoming a significant contributor to global…