Breaking Down The Section 45V Clean Hydrogen PTC Proposed Regulations

Highlights

• The U.S. Department of the Treasury and the IRS on Dec. 22, 2023, released proposed regulations regarding the production tax credit (PTC) for hydrogen under Section 45V of the Internal Revenue Code, as enacted by the Inflation Reduction Act.
• Comments to the proposed regulations are due on Feb. 26, 2023.
• This Holland & Knight alert breaks down the highlights of the proposed regulations.

The U.S. Department of the Treasury and the IRS on Dec. 22, 2023, released proposed regulations regarding the production tax credit (PTC) for hydrogen under Section 45V of the Internal Revenue Code, as enacted by the Inflation Reduction Act. Comments to the proposed regulations are due on Feb. 26, 2023. In conjunction with the proposed regulations, the U.S. Department of Energy (DOE) also released a whitepaper and the updated version of the Greenhouse Gases, Regulated Emissions, and Energy Use in Transportation (GREET) model applicable to clean