A pending new regulation from the Treasury Department could have unintended consequences on a promising new hydrogen industry's growth.
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construction at Iberdola SA's Puertollano green hydrogen plant in Puertollano, Spain, on Thursday, May 19, 2022. The new plant will be Europe's largest production site for green hydrogen for industrial use. Photographer: Angel Garcia/BloombergAs part of its latest crackdown on emissions from coal and natural gas power plants, the U.S.
“Installation of controls such as CCS for coal and gas plants, and low-GHG hydrogen co-firing for gas plants are more cost-effective for power plants that operate at greater capacity, more frequently, or over longer time periods,” the EPA’sreads.
But a draft proposed regulation from the U.S. Treasury Department governing the implementation of the 45V tax credits included in last year’s Inflation Reduction Act seems poised to undermine the stated goals of the EPA rule.
“The concept of additionality suggests that hydrogen producers can recognize clean electricity and feedstocks used in their processes only if it is derived from new projects,” FCHEA says. “To do so would significantly stifle the clean hydrogen market by adding unreasonable costs and delays for clean hydrogen producers, running counter to the IRA and undermining its economic, jobs, and environmental benefits.
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