Biden administration unveils hydrogen tax credit plan to jump-start industry
The plan outlines a tiered system, with cleaner energy projects receiving more, and smaller credits going to those that use fossil fuel to produce hydrogen.
WASHINGTON — The Biden administration released its highly anticipated proposal for doling out billions of dollars in tax credits to hydrogen producers Friday, in a massive effort to build out an industry that some hope can be a cleaner alternative to fossil fueled power.
The U.S. credit is the most generous in the world for hydrogen production, Jesse Jenkins, a professor at Princeton University who has analyzed the U.S. climate law, said last week.
The proposal — which is part of
