The IRS has issued final regulations that broaden the Inflation Reduction Act’s Clean Hydrogen Production Tax Credit (Section 45V). In a nutshell, the final regs expand the number of hydrogen production sources that qualify for the credit. Among other matters, the final regs clarify how hydrogen producers can determine credit eligibility. Producers include those using electricity, natural gas with carbon capture, renewable natural gas and coal mine methane. Projects must meet prevailing wage and apprenticeship standards. The maximum credit is $3 per kilogram of qualified clean hydrogen. For additional details: https://bit.ly/4j49Hu2
Our Blog 