Clarifies wage and apprenticeship standards for Regional Clean Hydrogen Hubs program participants.
The Internal Revenue Service (IRS) released its final rules for its Clean Hydrogen Production Tax Credit, which was established by the Inflation Reduction Act.
The tax credit offers benefits to hydrogen energy companies operating within the United States. The final rule clarifies a number of qualifications to receive the full credit, including wage and apprenticeship standards, carbon capture policies, and overall methane output.
“These rules incorporate helpful feedback from companies planning investments which will drive significant deployment of clean hydrogen to power heavy industry and help create good-paying jobs,” said Deputy Secretary of the Treasury Wally Adeyemo. “Scaling the production of low-carbon fuels like hydrogen will be a big boost to difficult-to-transition sectors of our economy like heavy industry.”
As the Lord Leads, Pray with Us…
- For Deputy Secretary Adeyemo and U.S. treasury officials as they assess the financial support for the hydrogen industry.
- For Commissioner Danny Werfel to receive the Lord’s guidance as he heads the IRS.
Sources: Department of the Treasury
