Analysis: Could Canada be about to steal US green hydrogen investments?

The latter part of 2023’s hydrogen policy discussions were dominated by the constant back and forth of views on the US Inflation Reduction Act’s (IRA’s) rules for green hydrogen production.

Eventually delivered by the Treasury on December 22, the proposed rules on for the 45V Clean Hydrogen Production Tax Credit (PTC) have been received less than favourably by hydrogen players, politicians and investors than anyone could have been imaged when the PTC was first released in August 2022.

For green hydrogen producers to receive the top tier credit of $3/kg of hydrogen, they look set to have to comply with the controversial “three pillar” requirements of additionality, hourly correlation and geographical correlation.

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