The Biden administration unveils final rules for subsidizing hydrogen power amid debate over how green the fuel should be.
The Biden administration loosened some stringent safeguards on a tax credit worth billions of dollars for hydrogen production, after companies argued the rules would stifle domestic manufacturing of the fuel.
Hydrogen projects had been waiting for the rules, which determine what ventures are eligible for incentives under the 2022 Inflation Reduction Act.
The Biden administration finalized rules meant to boost domestic production of hydrogen fuel through a new tax credit, a move that might also keep struggling nuclear power plants on line for longer.
Despite its regulatory future in limbo as the clean energy industry awaits potential shakeups when Trump returns to the White House, Bosch is still working to make hydrogen a
The tax credit created by President Joe Biden’s signature ... a global leader in truly green hydrogen,” John Podesta, senior climate adviser to Biden, said in a statement.
Green hydrogen has been touted by politicians and business leaders alike as a key fuel for a carbon-free future. But it will remain far more expensive than previously thought for decades to come, according to a new estimate from BloombergNEF.
Local proponents of the green fuel have been encouraged by the US government’s billions of dollars in tax credits which now come with fewer conditions attached.
The tax credit created by President Joe Biden’s signature ... a global leader in truly green hydrogen,” John Podesta, senior climate adviser to Biden, said in a statement.
Hollywood hills is burning after wildfires that started ravaging California on Tuesday continued to grow on Wednesday. Several Hollywood stars were forced to flee their homes, while over 130,000 have been evacuated so far.
The Biden administration has taken several actions to ensure its climate measures will last through the next administration — or at least make them difficult to overturn.
The EV tax credit, designed to help America lead in one of the world’s fastest-growing markets, should be preserved.