The Biden administration unveils final rules for subsidizing hydrogen power amid debate over how green the fuel should be.
The Biden administration loosened some stringent safeguards on a tax credit worth billions of dollars for hydrogen production, after companies argued the rules would stifle domestic manufacturing of the fuel.
The new regulations allow nuclear power and natural gas producers to qualify for significant credits aimed at hydrogen production.
The Biden administration finalized rules meant to boost domestic production of hydrogen fuel through a new tax credit, a move that might also keep struggling nuclear power plants on line for longer.
Despite its regulatory future in limbo as the clean energy industry awaits potential shakeups when Trump returns to the White House, Bosch is still working to make hydrogen a
Hydrogen projects had been waiting for the rules, which determine what ventures are eligible for incentives under the 2022 Inflation Reduction Act.
Local proponents of the green fuel have been encouraged by the US government’s billions of dollars in tax credits which now come with fewer conditions attached.
The tax credit created by President Joe Biden’s signature ... a global leader in truly green hydrogen,” John Podesta, senior climate adviser to Biden, said in a statement.
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A number of new energy stocks, including S&P 500 nuclear stocks Constellation Energy and Vistra, along with Amazon.com supplier Plug Power, moved higher following the Treasury Department and Internal Revenue Service revising its rules for hydrogen production tax credits.
Noble Gas Systems (Noble Gas) received an Approval in Principle (AiP) certificate for its conformable hydrogen storage vessel from