The United States is in need of diverse energy options to ensure a reliable, affordable, and high-energy system to compete effectively in global energy markets. Energy tax credits play a crucial role in supporting domestic energy growth and American competitiveness. They facilitate the commercialization of various energy supply options necessary to meet the projected load growth for industries, the economy, and overall energy security. By encouraging investments in baseload energy like advanced nuclear, geothermal, and renewable energy, these credits contribute to increasing the supply and thus keeping energy costs lower for American households. Moreover, energy tax credits have a direct impact on local economies by creating jobs and fostering business growth, particularly in the manufacturing and energy production sectors. The investments spurred by these credits have already led to the creation of quality jobs across the nation. Additionally, these credits enable U.S. businesses to remain competitive in global markets by supporting advancements in energy technology and research. Key energy tax credits like the ITC/PTC technology-neutral credits (45Y and 48E), the 45Q tax credit for carbon sequestration, and the 45V hydrogen production tax credit are highlighted as crucial for enhancing energy security and competitiveness. The ITC/PTC credits support baseload power supply through technologies like energy storage, advanced nuclear, fusion, and geothermal, while the 45Q credit drives U.S. global energy competitiveness by promoting carbon sequestration. The 45V hydrogen production tax credit is emphasized for its role in supporting American industry, aviation, and marine shipping. This credit has been instrumental in the growth of the U.S. hydrogen industry, offering benefits for domestic energy security, job creation, competitiveness, and innovation. By providing options for industry players to choose between the 45V and 45Q credits based on their unique processes, the tax credits enable sectors like refineries and fertilizer producers to remain competitive both domestically and internationally while moving towards decarbonization.