The US Treasury has unveiled significant relaxations to the rules for hydrogen producers looking to grab tax credits baked into the Inflation Reduction Act (IRA).
Section 45V of the IRA offers clean hydrogen producers up to $3/kg in a bid to reduce the cost gap to incumbent grey hydrogen and other fossil fuels.
Under the initial proposal, released in December 2023, producers would have had to match their clean hydrogen plant’s operations with renewable electricity production within the same hour from 2028.
However, the hourly matching requirement has now been pushed back until 2030.
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