US tax credit bill includes hydrogen
Energy Sector Innovation Credit would offer tax credits for solar, wind, hydrogen, energy storage, CCS and nuclear
An energy tax credit proposal has been introduced in both the US House of Representatives and the Senate aimed at encouraging technology innovation and helping rapidly scale and diversify new technologies, including hydrogen. The bipartisan Energy Sector Innovation Credit (ESIC) Act would offer tax credits for solar, wind, hydrogen, energy storage, carbon capture and storage and nuclear, ramping down the credits as each technology’s market penetration edges up. New technologies would become eligible as they emerge. “If we are to meet long-term emissions targets without sacrificing affordable electricity, we need to invest in on-the-horizon technologies that can accomplish our environmental
Also in this section
26 July 2024
European offtakers and strategic investors start to unlock North African country’s vast potential as a green hydrogen and ammonia supplier
25 July 2024
Investment in 100MW green hydrogen facility in Germany comes as oil major’s wider transition strategy comes under scrutiny
24 July 2024
World’s largest green fertiliser supply agreement puts Villeta project in Paraguay on track for FID later this year
23 July 2024
Awards experience 20% increase in nominations this year, with submissions from 27 countries