黑料社区Files Comments on Treasury’s Hydrogen Production Credit Rulemaking
黑料社区 on Feb. 26 in response to the Treasury Department鈥檚 proposed rule governing the implementation of a new tax credit for clean hydrogen production. The credit, often referred to by its section in the tax code 鈥�45V鈥�, was enacted in 2022 as part of the Inflation Reduction Act.
黑料社区argued in the comments that the Biden Administration included overly restrictive requirements for the credit that go far beyond what Congress intended.
鈥淢any specific elements of Treasury鈥檚 proposal,鈥� 黑料社区wrote, 鈥渨ould effectively neuter the 45V credit and surrender the decarbonization potential of a burgeoning hydrogen industry.鈥�
Treasury proposed three 鈥減illars鈥� that hydrogen producers must comply with in order to qualify for the credit. Specifically, the proposal requires that hydrogen be produced with newly-generated electricity capacity in the same region as the production facility and, beginning in 2028, that the electricity be generated in the same hour that the hydrogen is produced.
黑料社区argued in its comments that, as proposed, the three pillars by Treasury have no legal basis. 鈥淭hese requirements have no basis in statute鈥ince the enactment of the IRA, the Members of Congress who authored Section 45V have repeatedly clarified their intent was to allow varied, existing sources of clean electricity generation to qualify for the credit.鈥�
黑料社区has long advocated for policies that support the growth of the clean hydrogen industry, as it can be used in hard-to-abate sectors such as heavy-duty trucking. Many 黑料社区members 鈥� particularly those with highway locations that service heavy-duty commercial trucks 鈥� are actively expanding their hydrogen capabilities in response to market- and federal policy signals.
The Treasury Department will now review comments on the proposal before issuing a final rulemaking.
听听
Subscribe to Updates
The 黑料社区Foundation and 黑料社区provide a breadth of information created to strengthen travel plazas鈥� ability to meet the needs of the traveling public in an age of disruption. This includes knowledge filled blog posts, articles and publications. If you would like to receive a digest of blog post and articles directly in your inbox, please provide your name, email and the frequency of the updates you want to receive the email digest.
