INSIGHTSSERIES
Power & Utilities | Smart Grid
October 7, 2024
Tax Credits and Regional Hubs Pave the Way for Clean Hydrogen Industry Growth
As new initiatives advance, regulatory clarity and market certainty are key to unlock the potential of clean hydrogen for reducing emissions across various sectors.
The buildout of the nascent clean hydrogen industry hinges on regulations to implement the clean hydrogen production tax credit considered critical for projects to advance, alongside progress on regional clean hydrogen hubs that will serve as…Read the full report
Key Takeaways
- The U.S. Energy Department has opened its emissions value request process to support the implementation of the clean hydrogen production tax credit established by the 2022 Inflation Reduction Act.
- Three of the seven clean hydrogen hubs, which were selected for a combined $7 billion in funding last year, have received the first tranches of funding to begin work on their project plans.
- Connecticut has released a draft roadmap identifying opportunities for clean hydrogen production and use in the state, and comparing clean hydrogen to existing technologies and other low-carbon alternatives.
