Plug Power CEO ‘certain’ 45V hydrogen tax credit rules will be relaxed

Andy Marsh, CEO of Plug Power, has said he is certain the US’ proposed hydrogen production tax credit (PTC) rules will change, telling H2 View the current text is not in line with legislative intent.

“The regulations are going to change,” Marsh said. “There is no doubt.”

Published in late December 2023, the proposed guidance on Section 45V of the Inflation Reduction Act (IRA) set out various requirements that clean hydrogen producers would have to meet to secure PTCs worth up to $3/kg.

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