US spells out green hydrogen tax credits


December 22, 2023

The US Treasury Department and Internal Revenue Service have published details of the tax credits they are set to offer to developers in the green hydrogen sector.

On 22nd December, the pair published guidance for claiming the 45V Clean Hydrogen Production Tax Credits, which were established in the Inflation Reduction Act that passed into US law in August 2022.

Developers will be able to secure tax credits of up to $3/kg if projects meet targets on additionality, time-matching and proximity of the hydrogen production to renewable energy generation.

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