US Senate passes Act which could offer tax credits for clean hydrogen production

The US Senate on Sunday (August 7)  passed the flagship economic package which enclosed hopes of boosting the nation’s hydrogen economy in the form of tax credits.

Passed with a margin of 51 to 50, the Inflation Reduction Act holds a landmark Tax and Climate Bill, offering $3 per kg in tax credits for low carbon hydrogen production, which could make the clean energy carrier cheaper than grey produced hydrogen.

Read more: Landmark US Tax and Climate Bill offers tax credits for clean hydrogen production

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