U.S. Treasury Department's Reversal on Nuclear Plants and Clean Hydrogen Production Tax Credits
Key Ideas
- Constellation applauds the U.S. Treasury Department's decision to allow existing nuclear plants to qualify for federal tax credits for hydrogen production under Section 45V.
- President and CEO Joe Dominguez highlights the importance of reliable nuclear energy in facilitating the transition to clean hydrogen and sustainable technologies for customers.
- The partnership between Constellation and the U.S. General Services Administration for clean nuclear power signifies the growing reliance on nuclear energy for power and sustainability needs.
- Constellation is assessing the implications of the new rules and transmission charges on its clean hydrogen project at the LaSalle Clean Energy Center and its involvement in the MachH2 Hub.
Constellation, a major carbon-free energy producer in the U.S., welcomes the U.S. Treasury Department's reversal allowing existing nuclear plants to qualify for tax credits for hydrogen production. The company, led by President and CEO Joe Dominguez, emphasizes the role of reliable nuclear energy in enabling the transition to clean hydrogen and sustainable technologies. The partnership with the U.S. General Services Administration for clean, always-on nuclear power further underscores the increasing significance of nuclear energy in meeting power and sustainability demands. While highlighting the positive progress with the new rules, Constellation is evaluating the potential impact on its clean hydrogen project and participation in the MachH2 Hub in light of the evolving regulatory landscape.
Topics
Utilities
Clean Energy
Sustainability
Energy Transition
Economic Growth
Nuclear Power
Tax Credits
Government Partnership
Business Impact
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