Xcel Energy's plans for a hydrogen production hub in the Midwest are at risk due to the restrictive preliminary rules set by the 45V hydrogen production tax credit. Despite being part of the Heartland Hydrogen Hub, which could receive up to $925 million in federal funding, the project's progress is hindered by tax credit limitations on using nuclear and wind power to create clean hydrogen. These constraints may force a reevaluation or scaling down of the initiative, impacting the broader push toward decarbonization in the energy sector.
Read more here: https://www.startribune.com/xcel-university-north-dakota-hydrogen-heartland-hub-federal-tax-credit-environmental/600358098/