US House committee approves bill that could terminate 45V hydrogen tax credit
While the immediate approval comes as a blow for hydrogen proponents, the bill will have to face significant challenges.
While the immediate approval comes as a blow for hydrogen proponents, the bill will have to face significant challenges.
Any delays in low-carbon fuel regulations could hinder the growth of the hydrogen and nuclear industries.
Eliminating the US’ clean hydrogen production tax credits would be a “catastrophic step backwards,” the head of the Fuel Cell and Hydrogen Energy Association (FCHEA) has warned.
Plug CEO Andy Marsh, says the firm is looking towards state-level funding and European hydrogen mandates as 45V uncertainty clouds US federal support.
If removed, the lack of serious financial incentives is likely to massively dampen clean hydrogen activity in the US.
Green hydrogen remains too expensive to scale — but according to Electric Hydrogen CEO Raffi Garabedian, we already have the tools to bring costs down.
“The biggest issue with blue hydrogen is that there’s no real incentive for it to be clean and there’s no disincentive if it’s not clean.”
The Series C funding round is expected to support Twelve’s plans to develop its first commercial-scale SAF production facility in Washington, the US.
“Such a change in scope would entail a substantially lower-cost project, one that does not assume availability of massive amounts of hydrogen and would instead rely on readily available and more economical fossil fuels.”
Plug Power is set to integrate BASF’s advanced purification technology at hydrogen liquefaction plants designed for capacities of 30, 60, and 90 tonnes per day.
