Legislation Would Create Tax Credit for Production of Hydrogen to Reduce Carbon Emissions
Three members of the House of Representatives today introduced legislation that would create a tax credit for the production of “green” and “blue” hydrogen. The Clean Hydrogen Production and Investment Tax Credit Act of 2021 (H.R. 5192) would provide the tax credit to companies that reduce carbon emissions by the production of hydrogen. The credit would be worth an applicable amount (a sliding percentage, based on the production method, multiplied by $3, adjusted for inflation) multiplied by the kilograms of qualified clean energy produced by the taxpayer during the taxable year. The legislation was introduced by Reps. Suzan DelBene, D-Washington, John Larson, D-Connecticut and Donald Beyer, D-Virginia.
The future of renewable energy will be discussed at the Novogradac 2021 Fall Renewable Energy and Environmental Tax Credits Conference, Nov. 4-5 in Washington, D.C.