The development of hydrogen projects in the U.S. has been slowed by delays in finalizing tax credit rules essential for advancing the industry. Although the Biden administration views hydrogen as a critical component of the energy transition, companies have faced uncertainty regarding eligibility for the tax credits under the Inflation Reduction Act. This uncertainty has stalled billions of dollars in investments, particularly for projects like Hy Stor Energy's planned hydrogen production facility in Mississippi. Industry leaders and environmentalists are at odds over how strict the guidelines should be, with concerns that overly stringent rules could hinder the industry’s growth, while looser regulations might fail to meet environmental goals. The ongoing delay in finalizing these rules has created a significant barrier to the progression of the hydrogen economy, with companies hesitating to move forward until they receive clear guidance from the U.S. Department of the Treasury.
Read more here: https://www.bnnbloomberg.ca/investing/commodities/2024/08/15/americas-promised-hydrogen-fueled-future-is-stalled-over-tax-credits/