US Treasury Department to Provide Guidance on Tax Credits for Hydrogen Production
Key Ideas
- The US Treasury Department is set to release guidance on accessing tax credits for hydrogen production under the 2022 Inflation Reduction Act.
- The guidance will allow hydrogen produced using nuclear power to access the tax credits, providing a pathway for the industry.
- This development is highly anticipated and is expected to be released later in the week, potentially on Friday.
- The US Treasury Department has not yet issued an official comment on this matter.
According to Reuters, the US Treasury Department is preparing to unveil guidance on how to access tax credits for hydrogen production under the 2022 Inflation Reduction Act. This guidance is expected to open up opportunities for hydrogen produced using nuclear power to qualify for these tax credits, which is a significant development for the industry. The release of this guidance is eagerly awaited and is likely to happen later this week, with a potential release date set for Friday. While the US Treasury Department has not provided an official comment on this news yet, the industry is abuzz with anticipation for this guidance that could potentially boost hydrogen production in the country.