Jones Day, a global law firm, is playing a crucial role in guiding the implementation of the Section 45V clean hydrogen production tax credit introduced by the Inflation Reduction Act of 2022 in the United States. The tax credit aims to boost domestic hydrogen production. The final regulations issued by the Department of Treasury and the Internal Revenue Service outline the specifics of qualifying for the hydrogen production credit. Key aspects include the requirement for lifecycle greenhouse gas emissions to be four kilograms or less of carbon dioxide equivalents per kilogram of hydrogen produced and the availability of credits ranging from 60 cents to $3 per kilogram of qualified hydrogen. The regulations also allow for claiming the credit up to 10 years after the eligible hydrogen facility is operational and mandate construction to commence before 2033. The regulations emphasize incrementality/additionality, temporal matching, geographic matching, and the use of the 45VH2-GREET model for emissions modeling. Specifically, the regulations expand pathways to meet incrementality requirements and extend the transition period for temporal matching. Additionally, they retain the general framework for drawing regional boundaries but provide some flexibility for importing clean energy from other regions under certain circumstances. Producers are required to use the 45VH2-GREET model for emissions modeling, ensuring uniformity in calculations. The final regulations, which will be effective 60 days after being entered into the Federal Register on January 10, 2025, incorporate feedback from approximately 30,000 public comments. The aim is to provide greater certainty and significant flexibility for hydrogen producers, signaling a positive step towards incentivizing and facilitating clean hydrogen production in the country.