For Immediate Release
Fuel Cell and Hydrogen Energy Association Statement on Final Hydrogen Production Tax Credit Guidance
(Washington, D.C.) – January 3, 2025 – Frank Wolak, the President and CEO of the Fuel Cell and Hydrogen Energy Association (FCHEA) issued the following statement in response to the U.S. Department of Treasury final guidance published on the hydrogen production tax credit (§45V):
After years of strategic engagement and persistent advocacy, the issuance of this Final Rule now affords project developers the basis for evaluating opportunities to scale clean hydrogen deployments.
The administration made significant improvements and considered industry feedback in several instances when crafting this final rule compared to the initial proposal, including the delayed implementation of hourly matched accounting for electrolytic hydrogen, support for more sources of renewable natural gas (RNG), removal of the first productive use requirement for RNG, among other changes.
However, this rule is still extremely complex and will require intense evaluation by project developers to understand all the nuances and how they will apply to their specific facilities. There are also multiple areas where implementation and timing will be up to the incoming Trump-Vance Administration.
This issuance of Final Rules closes a long chapter, and now the industry can look forward to conversations with the new Congress and new Administration regarding how federal tax and energy policy can most effectively advance the development of hydrogen in the US.
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The Fuel Cell & Hydrogen Energy Association (FCHEA) is the leading industry association in the United States representing more than one hundred leading organizations advancing production, distribution, and use of innovative, clean, safe, and reliable hydrogen energy. For over 30 years FCHEA has provided a consistent industry voice to policymakers and regulators, driving support at the federal and state level. Our educational efforts promote the environmental and economic benefits of hydrogen energy and fuel cell technologies. Visit us online at www.fchea.org.
Contact: Connor Dolan, Vice President of External Affairs, [email protected], 202.355.9463