New 45VH2-GREET Model Update for Clean Hydrogen Production Tax Credit
Key Ideas
- The U.S. Department of Energy released an updated 45VH2-GREET model for well-to-gate emissions of hydrogen production facilities.
- This model has been adopted by the Department of the Treasury for calculating clean hydrogen production tax credit under I.R.C. section 45V.
- The 45VH2-GREET Rev. January 2025 is user-friendly and tailored for evaluating hydrogen production processes to meet regulatory requirements.
- For assistance on using the model, taxpayers can reach out to 45VH2GREETSupport@ee.doe.gov.
The U.S. Department of Energy recently unveiled an updated version of the 45VH2-GREET model, a tool crucial for assessing well-to-gate emissions from hydrogen production facilities. This model, known as the 45VH2-GREET Rev. January 2025, has been officially adopted by the Department of the Treasury to aid in the calculation of the clean hydrogen production tax credit outlined in I.R.C. section 45V. The primary focus of this model is to facilitate accurate evaluation of hydrogen production processes, aligning with the stipulations and objectives of section 45V. Additionally, this updated version boasts user-friendly features that aim to simplify its usage for taxpayers required to utilize it for compliance purposes. To provide support and guidance on navigating and harnessing the functionalities of the model effectively, the Department of Energy has made assistance available via the email address 45VH2GREETSupport@ee.doe.gov. This development marks a step forward in enhancing the tools and frameworks available for monitoring and promoting sustainable practices within the hydrogen production sector.