Clifford Chance

U.S. Treasury releases final regulations for 45V hydrogen production credit

January 7, 2025

On January 3, 2025, the U.S. Department of the Treasury and the Internal Revenue Service released final rules implementing the Section 45V clean hydrogen production tax credit established by the Inflation Reduction Act. While some open questions are sure to remain, the Final Rules, together with an updated version of the 45VH2-GREET model and user manual (expected to be issued by the U.S Department of Energy by the end of this month), will provide project developers and investors with much-needed clarity on a particular project’s eligibility for the Section 45V credit.

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