The Biden administration has unveiled a plan that includes stringent environmental safeguards for the burgeoning clean hydrogen industry, leveraging tax credits to promote low-carbon hydrogen production. This move, as part of the administration's climate-friendly approach, could significantly influence the power grid's future operations. The proposed rules, which are detailed in the hydrogen tax credit policy, specifically the 45V clean hydrogen tax credit, are aimed at reducing emissions across various sectors by supporting the development of clean hydrogen plants, including integrated, pre-fabricated plants like those proposed by Electric_H2. The Electric Power Research Institute, a non-partisan organization funded by utilities, has emphasized the need for strong climate safeguards to prevent an increase in CO₂ emissions. The new policy has received mixed reactions, with some industry players ready to deploy billions of dollars building projects that meet the so-called 'Three Pillars' framework at the heart of the Treasury's rules, aiming for tens of gigawatts of capacity, while others, including energy companies and hydrogen producers like Plug Power and Cummins’ Accelera, warn that the tough tax credit requirements could stall investment and slow down the industry's growth.
Biden administration releases proposal to use tax code to boost hydrogen fuel production https://t.co/HRzgBkRigz
Companies like Plug Power and Cummins’ Accelera say the proposed rules will dampen investment in clean hydrogen production plants as the new credit looks less gen... https://t.co/bVYW1bXq71 https://t.co/8xFCKqSaSw
‘Green’ Hydrogen Makers Say Strict Federal Tax Credit Rules Will Stall U.S. Boom https://t.co/YW8AzTtpne https://t.co/330iGJlHHR
US unveils clean hydrogen plan, nuclear power role uncertain https://t.co/mHlCvfIDO7 https://t.co/zLCW9A3zvs
The Biden administration proposed tough new rules for a valuable climate subsidy, siding with environmental groups despite warnings from energy companies https://t.co/BGtmZ0f5kr https://t.co/BGtmZ0f5kr
Billions of dollars in hydrogen-industry subsidies from Biden’s signature climate law will come with stringent environmental safeguards https://t.co/RH99zSVPRS
The Biden administration on Friday released its attempt at a climate-friendly approach to using the tax code to boost hydrogen fuel production. https://t.co/InkrKrM8UK
New from @AmrithRamkumar and me: The hydrogen tax credit rules are out, and they impose tough requirements to get the largest subsidy. Companies warn that they'll stall a nascent and important industry. https://t.co/5zxazsSL4m https://t.co/5zxazsSL4m
The Biden administration has proposed rules governing the hydrogen tax credit, one of the thorniest and most generous subsidies in the IRA. The new rules could do much more than shape the young industry — they could remake how the whole power grid works: https://t.co/iEpfAy4wDb
Want a lucid and short breakdown of #Biden's complicated new #hydrogen tax credit policy and the challenges it creates? Here you go via @axios' @jholz__ https://t.co/Xechr19XxM #climate #energy
White House unveils strict hydrogen regulations in victory for environmentalists https://t.co/tDQLCZdrPZ
⚠️ US UNVEILS CLEAN HYDROGEN PLAN, NUCLEAR POWER ROLE UNCERTAIN The U.S. proposed rules on Friday for how energy companies can access billions of dollars in tax credits for producing low-carbon hydrogen using new clean energy sources but left thorny issues, such as how nuclear… https://t.co/G7KoiXWcKV
Any press reporting on 45V clean hydrogen tax credit proposed rules out tomorrow had better read this letter from industry ready to deploy billions of dollars building 10s of gigawatts of projects that meet the so-called 'Three Pillars' framework at the heart of Treasury's rules. https://t.co/mDuOnJWdJT
When it comes to hydrogen, we need strong climate safeguards. Otherwise, economy-wide CO₂ emissions increase. This study from the non-partisan, utility-funded Electric Power Research Institute explains more. https://t.co/X5JAaPhG35
Clean hydrogen has the potential to reduce emissions across sectors, but the cost of hydrogen is a barrier to commercialization. BEV portfolio company @Electric_H2 has a solution to cut costs with its integrated, pre-fabricated clean hydrogen plant. More: https://t.co/X1Rpsch4So