Constellation Applauds U.S. Treasury's Decision on Clean Hydrogen Production
Key Ideas
- The U.S. Treasury Department reversed its decision to exclude existing nuclear plants from qualifying for tax credits for clean hydrogen production under Section 45V of the Inflation Reduction Act.
- Constellation's CEO, Joe Dominguez, highlighted the importance of nuclear energy in enabling the transition to clean hydrogen and sustainable technologies for businesses and economic growth.
- Constellation is assessing the impact of the new rules on its clean hydrogen project at the LaSalle Clean Energy Center and its involvement in the MachH2 Hub.
- The company's partnership with the U.S. General Services Administration for clean nuclear power demonstrates the increasing reliance on nuclear energy for power and sustainability needs.
Constellation, a leading producer of carbon-free energy in the U.S., has welcomed the U.S. Treasury Department's decision to allow existing nuclear plants to earn tax credits for clean hydrogen production. The company's CEO emphasized the crucial role of nuclear energy in facilitating the shift towards clean hydrogen and sustainable technologies for both businesses and economic development. Constellation is currently evaluating the implications of the new regulations on its clean hydrogen project at the LaSalle Clean Energy Center and its participation in the MachH2 Hub. Additionally, Constellation's recent agreement with the U.S. General Services Administration for clean, always-on nuclear power underscores the growing reliance on nuclear energy to meet power and sustainability requirements. The industry awaits further developments as Constellation navigates the evolving landscape of clean hydrogen initiatives and regulatory frameworks.
Topics
Public Transit
Clean Energy
Sustainability
Energy
Economic Growth
Nuclear Energy
Tax Credits
Businesses
Electric Transmission
Latest News