The Internal Revenue Service (IRS) and the Department of the Treasury released long-awaited final regulations on January 3, 2025, concerning the clean hydrogen production tax credit under section 45V of the Internal Revenue Code. This tax credit, enacted as part of the Inflation Reduction Act of 2022, is a crucial component of the Biden Administration's clean energy initiative and serves as the primary tax incentive for clean hydrogen production. Simultaneously, the Department of Energy (DOE) released a White Paper supporting Treasury's analysis and provided guidance on assessing lifecycle greenhouse gas emissions related to hydrogen production. Additionally, a new version of the 45VH2-GREET model was released to determine greenhouse gas emissions from hydrogen production through various pathways. The regulations include three main pillars: additionality/incrementality, temporal matching, and geographic matching or deliverability. These pillars aim to ensure that renewable power used in hydrogen production is additional, generated close in time to its use, and sourced from the same geographical region as the production facility. The regulations also provide flexibility in some aspects, such as allowing hourly accounting of emissions and enabling transfers of electricity between regions under specific conditions. The final regulations emphasize the importance of reducing greenhouse gas emissions by encouraging the use of renewable power sources in hydrogen production. By relying on the GREET model, hydrogen producers can determine emissions and receive tax credits based on the carbon intensity of their production processes. The regulations aim to support a shift towards cleaner hydrogen production methods and incentivize the industry to reduce its carbon footprint. Overall, the finalized regulations seek to promote sustainable practices in hydrogen production and align with efforts to combat climate change.