Inside the fierce debate over clean hydrogen, with $100 billion in federal subsidies on the line
Publishing timestamp: 2023-03-03 14:34:46
Summary
The US Treasury Department and IRS are debating how to implement a tax credit for clean hydrogen production, with some stakeholders arguing that too strict regulations will make it too expensive and others arguing that too lax regulations will make the climate-saving point of the tax credit moot. The debate revolves around how to account for CO2 emissions, with some energy providers wanting annual RECs to be allowed and climate-focused organizations advocating hourly REC standards. The outcome of the debate will have a major impact on the clean hydrogen industry.
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Keywords: politics, united states, nextera energy inc, bp plc, business news, bill gates, climate, shell plc, energy,
Source: https://www.cnbc.com/2023/03/03/clean-hydrogen-industry-future-depends-on-ira-tax-credit.html