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plug-power-to-recognise-unconfirmed-us-hydrogen-tax-credits-to-boost-finances
© Plug Power
plug-power-to-recognise-unconfirmed-us-hydrogen-tax-credits-to-boost-finances
© Plug Power

Plug Power to recognise unconfirmed US hydrogen tax credits to boost finances

Plug Power says it intends to recognise US federal tax credits for green hydrogen it is producing at a facility in Georgia in its financial results despite rules for the incentives remaining undetermined.

Under the Inflation Reduction Act’s (IRA) 45V clean hydrogen production tax credit (PTC), hydrogen producers can gain up to $3/kg of hydrogen.

Despite rules for producers being proposed by the Treasury last December, the criteria have not been confirmed, with many expecting them to be finalised after November’s presidential election.

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