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Inflation Reduction Act (IRA) Hydrogen Power Energy Sector

Morgan Lewis

Treasury Department Releases Final Regulations Applicable to the Hydrogen Tax Credits

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On January 3, 2025, the US Department of the Treasury released final Treasury regulations applicable to the hydrogen production tax credit under Section 45V and the investment tax credit for hydrogen production facilities...more

Holland & Knight LLP

Treasury Department, IRS Release Section 45V Clean Hydrogen PTC Final Regulations

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The U.S. Department of the Treasury and IRS on Jan. 3, 2025, released Final Regulations regarding the production tax credit (PTC) for hydrogen under Section 45V of the Internal Revenue Code, as enacted by the Inflation...more

Vinson & Elkins LLP

Final Hydrogen Regulations Provide Multiple Paths for Production, But The Three Pillars and Other Obstacles Remain

Vinson & Elkins LLP on

On January 10, 2024, the Department of the Treasury (“Treasury”) published the final regulations governing the section 45V Clean Hydrogen Production Tax Credit (“Final Regulations”). The Final Regulations tackle many of the...more

Paul Hastings LLP

Treasury and IRS Finalize Clean Hydrogen Production Credit Regulations

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The Inflation Reduction Act of 2022 added the Section 45V production tax credit for the production of clean hydrogen (Section 45V) to the Internal Revenue Code of 1986, as amended. Section 45V provides a credit against...more

Foley Hoag LLP

Treasury Finalizes Rules for Clean Hydrogen Production Tax Credit (Section 45V)

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Over a year since Treasury released proposed rules—after thousands of public comments and various hearings, think pieces, whitepapers, Op-Eds, and, yes, even TV commercials—on January 3, 2025, Treasury finalized rules for...more

Pillsbury Winthrop Shaw Pittman LLP

From “Energy Transition” to “Energy Security”: Assessing the Impact of the Republican Trifecta on the Energy Industry

With a renewed focus on domestic energy production and regulatory reform, the incoming administration signals significant shifts in U.S. energy and climate priorities. The incoming Trump Administration will prioritize...more

Bracewell LLP

PRG Pulse 2024 Post-Election Analysis: Energy Tax Policy

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The future of the Inflation Reduction Act (IRA), signed in 2022 to boost US clean energy with new tax incentives, hangs in the balance. President-elect Trump and some Republicans in Congress have threatened to repeal all or...more

Bracewell LLP

PRG 2024 Post-Election Pulse Check: Hydrogen

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E. Dee Martin, partner and co-head of Bracewell’s Policy Resolution Group, and Rebecca Brown, a PRG principal, discuss the future of the hydrogen industry during the second Trump administration....more

Troutman Pepper Locke

Navigating Clean Hydrogen Tax Credits: Insights and Implications - Energy Law Insights

Troutman Pepper Locke on

Dive into the complexities of clean hydrogen production and the associated tax credits with Troutman Pepper Partners Anne Loomis and Mindy McGrath. In this video, they explore the Inflation Reduction Act’s new production tax...more

ASKramer Law

Energy Tax Credits for a New World Part II: Production Tax Credits and Investment Tax Credits: The Old and the New

ASKramer Law on

What is a Production Tax Credit (PTC)? A Production Tax Credit (PTC) is a per kilowatt-hour (kWh) tax credit for electricity generated by solar and other qualifying clean technologies for the first 10 years of a system’s...more

Pillsbury Winthrop Shaw Pittman LLP

Treasury Department Announces Process and Timetable to Allocate $6 Billion in Qualifying Advanced Energy Project Credits

The application cycle for Treasury to award this round of credits will soon open, providing applicants an opportunity to receive significant funding for clean energy, industrial decarbonization and critical materials...more

Cadwalader, Wickersham & Taft LLP

Tax Insurance May Boost the Market for Energy Tax Credits

The Inflation Reduction Act of 2022 (the “IRA”) now allows firms to develop and sell clean energy tax credits.  In our last update, available here, we discussed the latest developments on the “direct pay” rules, the clean...more

Foley & Lardner LLP

Texas Hydrogen Alliance – “All Things Hydrogen” Event Recap

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On Thursday, January 11, 2024, the Texas Hydrogen Alliance (“THA”) hosted “All Things Hydrogen,” an in-person educational and networking reception held in Houston, Texas at the offices of Foley & Lardner LLP (“Foley”). The...more

Wilson Sonsini Goodrich & Rosati

Clean Energy and Climate Solutions Federal Funding Database

Wilson Sonsini is pleased to share our January 2024 update to the Clean Energy and Climate Solutions Federal Funding Database. This month, the database features funding opportunity announcements (FOAs), notices of intent...more

K&L Gates LLP

Tax Credit Revolution: US Treasury and IRS Propose Section 45V Hydrogen Production Tax Credit Regulations

K&L Gates LLP on

Members of the K&L Gates Hydrogen, Power, Tax, and Tax Policy teams speak with Sandi Safro Osborn, Assistant General Counsel of the Edison Electric Institute, about the proposed regulations the Treasury Department and...more

Morgan Lewis

Treasury and IRS Publish Much-Anticipated Guidance on Clean Hydrogen Tax Credit

Morgan Lewis on

The Internal Revenue Service (IRS) and the US Department of the Treasury (Treasury) recently published proposed regulations (Proposed Regulations) setting forth rules applicable to the credit for the production of clean...more

K&L Gates LLP

US Treasury Department Releases Proposed Section 45V Hydrogen Tax Credit Regulations

K&L Gates LLP on

On 22 December 2023, the US Treasury Department (Treasury) released the highly anticipated Proposed Regulations relating to the Clean Hydrogen Production Credit (hydrogen credit) under the US Internal Revenue Code of 1986, as...more

Perkins Coie

DOE Announces Project Recipients for Seven Regional Clean Hydrogen Hubs

Perkins Coie on

The U.S. Department of Energy (DOE) Office of Clean Energy Demonstrations (OCED) recently announced the project recipients selected for negotiation to develop seven regional clean hydrogen hubs across the United States....more

White & Case LLP

Geopolitics and decarbonization in the mining & metals sector

White & Case LLP on

Geography—as much as geology—is driving commercial activity and opportunities for mining & metals firms as decarbonization accelerates - The old adage—credited to J. Paul Getty—goes, "The meek shall inherit the Earth, but...more

Farella Braun + Martel LLP

[Event] Unlocking Clean Hydrogen: What Should Treasury’s Guidance Be for Hydrogen Production Tax Credit Eligibility? - October...

The Inflation Reduction Act (IRA), passed just over a year ago, contains a clean hydrogen production tax credit of up to $3/kg. However, guidance from the Treasury as to what qualifies for the clean hydrogen tax credit...more

King & Spalding

Field Guide to Clean Hydrogen

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Hydrogen is a key ingredient in any country’s future energy plans. In the United States, the hydrogen sector is on the launch pad, ready for lift-off. However, its trajectory hinges on a critical question: what criteria...more

Holland & Knight LLP

Treasury Department and IRS Release Direct Pay and Transferability Guidance

Holland & Knight LLP on

The U.S. Department of the Treasury and IRS on June 14, 2023, released two notices of proposed rulemaking (NOPRs) regarding the direct payment of tax credits under Section 6417 of the Internal Revenue Code (Elective Payment...more

King & Spalding

U.S. DOE Releases Report on Clean Hydrogen Strategy and Roadmap

King & Spalding on

The United States recently took another important step in implementing a comprehensive strategy to advance the production, processing, delivery, storage, and use of clean hydrogen. On June 5, 2023, the Biden-Harris...more

A&O Shearman

Japan unveils green subsidy programme – can it compete with the U.S. Inflation Reduction Act?

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The Japanese government’s ambitious support package aims to unlock USD1 trillion of investment in low carbon infrastructure over the next decade. We break down the draft law and explore some of the issues that still need...more

Mintz - ML Strategies

Washington Energy & Sustainability Update - April 2023

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House Approves Republican Energy Package - Four Democrats joined with all Republicans to approve, in a 225-204 vote, a massive House energy bill on March 30. While the bill will almost certainly not advance in the Senate,...more

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