Hydrogen Industry Urges Treasury to Finalize Tax Rules Amid Frustration Over Lack of Guidance and Delays

The “clean” hydrogen industry is urging the Treasury Department to finalize tax rules under the Inflation Reduction Act to stimulate the sector. The heads of major companies that aim to produce hydrogen in the U.S. have expressed frustration at the lack of official guidance from the Biden administration regarding tax credits. Rushabh Shah, director of UUS Midwest Hydrogen and CCS at BP, said the pace of change is affecting project development. Beth Deane, chief legal officer at Electric Hydrogen, called for compromise on the hydrogen tax credit known as 45V, which she described as the “elephant in the room”.