Air Products Supports US' Proposed Three Pillar Rules for Green Hydrogen Tax Credits
Key Ideas
- Air Products backs the US' three pillar rules for green hydrogen tax credits to ensure high emissions reduction standards.
- Implementation of the rules is expected to shake up the market, favoring only the strongest players like Air Products.
- The support for tax credits through section 45V of the Inflation Reduction Act highlights the company's commitment to green hydrogen production.
- Eric Guter, Vice-President of Hydrogen for Mobility at Air Products, emphasizes the importance of meeting stringent emissions reduction criteria.
Air Products has shown significant support for the US' proposed three pillar rules aimed at green hydrogen producers seeking federal tax credits. These rules focus on additionality, hourly matching, and geographic correlation to ensure the highest level of emissions reduction for hydrogen production. The company, through section 45V of the Inflation Reduction Act (IRA), underscores its commitment to green hydrogen by advocating for tax credits that promote environmental sustainability. Eric Guter, the Vice-President of Hydrogen for Mobility at Air Products, predicts that the implementation of these rules could lead to a market shake-up, potentially leaving only the most robust players standing. This stance reflects Air Products' confidence in its capabilities and dedication to producing environmentally friendly hydrogen. The industry's response to these regulatory changes is expected to be transformative, with companies like Air Products poised to thrive in this evolving landscape.