US law makes green hydrogen competitive ‘in every sector’ – Plug Power

Tax credits for hydrogen production contained in new Inflation Reduction Act make green hydrogen cheaper than grey in all industrial applications, says Plug Power CEO

The new tax credits for hydrogen production in the US will make green hydrogen competitive with grey in every industrial sector where the fuel is used, according to Andy Marsh, CEO of Plug Power. Speaking on the firm’s second-quarter results call, Marsh said the Inflation Reduction Act, passed in the Senate this week, was a “major inflection point” for the green hydrogen industry. The bill provides a tax credit of up to $3/kg for a ten-year period to any green hydrogen generation facility that begins construction before 2033. 20,000t/d – Hydrogen consumed by refining and ammonia industries “For everyone who wants green hydrogen now there is a path that makes it competitive,” says Mar