Agency: Department of the Treasury
Description:
Tax credit of up to $0.60/kg for production of hydrogen, defined as 4 kilograms of CO2e per kilogram or less; credit varies by lifecycle GHG emissions rate, with lower emission hydrogen receiving higher credits
Bill Section:
13204
US Code:
26 USC 45V
New or Existing:
New
Potential Cost:
$13,200,000,000
Timeline:
2023-2032
TCS Notes:
Tax credit availability for various types of hydrogen dependent on lifecycle GHG emissions calculations, derived from Argonne National Lab’s GREET Model or a successor model.
Elective Payment and Transferability allowed in certain cases.