Media Coverage
Source: Law360
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Thomas
01.08.25
Amid uncertainty surrounding the future of tax credits, the Biden administration’s new rules designed to enhance the accessibility of hydrogen production tax credits may not boost the industry as anticipated, according to recent coverage by Law360. Although these rules—embedded in the Inflation Reduction Act and codified under Section 45V of the Internal Revenue Code—offer increased flexibility for hydrogen projects, the changes are overshadowed by its potential repeal by President-elect Donald Trump.
According to Global Energy Industry Leader and Energy partner Elina Teplinsky, there must be 45V credit eligibility rules on the books for the U.S. hydrogen market to have any chance of taking off. She added that the regional clean hydrogen hubs program would not be sufficient on its own to meet the needs of project developers.
“With the regional clean hydrogen hubs, that just takes care of your [capital expenditures],” she said. “If somebody gives you 100 percent of funding for the capex, but the hydrogen you sell costs four times more to produce than what you can get on the market, you’re not going to pursue a project.”
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