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IRS to Publish Proposed Guidance for Section 45V Clean Hydrogen PTC

Friday, December 22, 2023 - 8:51AM

The U.S. Department of the Treasury and Internal Revenue Service (IRS) will publish in Tuesday’s Federal Register a notice of proposed rulemaking for the Internal Revenue Code (IRC) Section 45V clean hydrogen production tax credit (PTC) established by the Inflation Reduction Act (IRA) of 2022. The guidance includes definitions of key terms, rules for determining the lifecycle greenhouse gas emission rates from producing hydrogen, petitions for provisional emissions rates and more. The notice will be open for public comment until Feb. 26, 2024, and a public hearing on the proposed regulations is scheduled for 10 a.m. March 25, 2024.

Stay up to date on the latest IRS guidance at the Novogradac 2024 Spring Renewable Energy and Environmental Tax Credits Conference, May 16-17, 2024, in San Diego.

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