The U.S. Department of the Treasury and IRS have issued final regulations related to tax credits for clean hydrogen production under Section 45V of the Internal Revenue Code. The industry has been eagerly awaiting these regulations, which provide clear guidance and increased investment certainty. The regulations establish key dates for eligibility, including the requirement that facilities must be placed in service after December 31, 2022, and start construction before 2033. They also introduce three pillars - incrementality, temporal matching, and deliverability - to ensure that facilities claiming the 45V credit lead to emission reductions. These regulations relax certain requirements while maintaining the core principles. The regulations specify that facilities need to demonstrate that the electricity used for clean hydrogen production comes from new, clean sources. They also elaborate on temporal matching requirements, extending the hourly matching deadline to 2030. Furthermore, the regulations clarify the scope of a facility for credit calculation purposes, stating that it includes the equipment directly involved in hydrogen production. Calculating the credit involves determining the percentage value based on the kilograms of CO2e per kilogram of hydrogen produced. The final regulations differentiate between hydrogen production processes and consider the attributes of feedstocks used. The GREET Model, adopted as a successor model, plays a key role in these calculations. Overall, the sentiment towards these regulations is positive as they provide much-needed clarity and direction for the clean hydrogen industry, encouraging investment and development in this crucial sector.