Biden Administration's Proposed Rules for Green Hydrogen Tax Credit May Stall U.S. Boom

The Biden Administration's proposed rules for a federal tax credit for green hydrogen in the U.S. are seen as unhelpful by green hydrogen makers, potentially leading to them looking to Europe. The rules are criticized for limiting investments in hydrogen and negatively impacting planned projects. The initial proposal doesn't address hydrogen made using nuclear and hydropower, nor does it reference geologic hydrogen. The proposed rules for the 45V tax credit will undergo a 60-day public comment period and may be implemented by late 2024.