The Biden administration hopes the act will be passed before the end of the year
Hydrogen tax credit advances to US Senate
Measure will have sliding scale with four categories of carbon intensity
A ten-year tax credit for hydrogen production was approved by the US House of Representatives on Friday as part of President Joe Biden’s Build Back Better bill. The credit is not law yet as the bill still needs to be debated and voted on by the Senate, which is likely to happen in December. The credit is worth $3/kg of hydrogen produced—a dollar-for-dollar reduction on the tax owed on the fuel. It is neutral on what form of technology is used to produce the hydrogen—meaning developers of both green and blue projects can qualify as long as they meet the carbon intensity requirements. Hydrogen producers will receive 100pc of the tax credit if the lifecycle greenhouse gas emissions rate of the
Also in this section
13 March 2025
Government awards €1.21b of funding to seven large-scale projects as it chases capacity target of 12GW by 2030
12 March 2025
Speakers at this year’s CERAWeek conference noted the growing interest in green hydrogen, but hurdles such as cost remain to its adoption at scale
11 March 2025
A reassessment of clean hydrogen’s growth trajectory is underway, but the energy vector’s long-term potential to decarbonise remains intact
10 March 2025
Collaboration has become crucial to success as projects turn out to be more complex and expensive than previously thought, industry figures tell Dubai conference
