The Internal Revenue Service (IRS) has introduced proposed guidance for utilities interested in claiming the 45V Clean Hydrogen Production Tax Credit, a measure included in the Inflation Reduction Act (IRA) of 2022. This tax credit is aimed at supporting businesses in producing low-emission hydrogen, thereby reducing overall emissions and promoting the integration of clean hydrogen into the market. To qualify for this tax credit, utilities need to adhere to specific requirements outlined in Section 45V of the IRA. These requirements include independent third-party verification of production and sale, commencing construction of the production facility before January 1, 2033, and meeting certain wage and apprenticeship criteria to avoid potential reduction in the available credit. The proposed IRS guidelines delve into how utilities should calculate the life-cycle emissions of hydrogen production. This calculation considers emissions connected to various stages of production, such as feedstock growth, extraction, processing, and delivery to hydrogen production facilities. The guidelines suggest using the Greenhouse Gas, Regulated Emissions and Energy Use in Transportation model (GREET) to analyze data and determine the carbon intensity of production. Moreover, the guidelines introduce three key pillars that define restrictions on energy production. These pillars include incrementality, which necessitates that electricity used at hydrogen production facilities come from a facility developed within 36 months of the hydrogen facility, temporal matching, requiring annual matching of electricity used for hydrogen production to generated clean energy up to January 1, 2028, and hourly matching thereafter, and deliverability, which mandates that electricity be sourced from the same region as the eventual grid for transport. It is important to note that the IRS guidelines are currently in the proposal stage, leaving room for potential adjustments in the future. These guidelines provide utilities with a structured framework to understand the requirements and potential benefits associated with claiming the tax credits for clean hydrogen production.