Biden administration adds exemptions into new climate rules for hydrogen energy [View all]
Source: The Hill
01/03/25 8:45 AM ET
The Biden administration on Friday finalized fairly strict climate rules for the nascent hydrogen energy industry — but the rules contain new flexibilities that are expected to make them less stringent than the administration’s original proposal.
The final rule issued by the Treasury Department on Friday determines which facilities can qualify for lucrative tax credits for hydrogen energy.
The tax credits are seen as an important piece of the Biden administration’s climate agenda since hydrogen power could be an important tool to lower carbon emissions from industries like aviation, steel and cement — whose emissions are particularly difficult to eliminate.
The tax credits are key for making hydrogen from low- or no-emitting sources economically viable. Hydrogen energy can be made by either using electricity to separate the hydrogen out of water molecules in an electrolyzer or through a reaction between methane and steam.
Read more: https://thehill.com/policy/energy-environment/5064545-biden-administration-climate-rules-hydrogen/
Link to Department of Treasury PRESS RELEASE - U.S. Department of the Treasury Releases Final Rules for Clean Hydrogen Production Tax Credit
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