The release of proposed regulations on the Clean Hydrogen Production Credit by the U.S. Department of the Treasury and IRS has garnered significant attention in the energy sector. These regulations signify a crucial step towards a cleaner and more sustainable energy economy. Hydrogen, heralded as the fuel of the future, offers a cleaner alternative to traditional fossil fuels, with the production method playing a crucial role in its environmental impact. The commentary on different colors of hydrogen—green, blue, and grey—highlights the various means of production and their environmental implications. Green hydrogen, produced using renewable sources like wind and solar power, stands out for its minimal greenhouse gas emissions. Blue hydrogen, generated through steam methane reforming, offers lower emissions but requires carbon capture. Grey hydrogen, produced similarly to blue hydrogen but without carbon capture, is the most cost-effective but has the highest environmental impact. The proposed IRS regulations focus on providing financial incentives to producers of clean or low-carbon hydrogen through tax credits under Section 45V. These regulations aim to clarify eligibility requirements, documentation, and verification processes for hydrogen production and usage. Stakeholders, especially in the context of co-mingling hydrogen from different production processes, are concerned about tax credit eligibility. The regulations touch upon greenhouse gas emissions determination, anti-abuse rules, guidelines for hydrogen storage, and use, impacting taxpayers involved in clean hydrogen production or managing hydrogen facilities. The aim is to ensure that incentives are aligned with environmentally friendly production methods. Overall, these regulations are poised to shape the landscape of hydrogen production and its role in achieving sustainability goals, fostering innovation and environmental responsibility in the energy sector.