IRS T.D.: Credit for Production of Clean Hydrogen, Energy Credits Guidance (IRC 45V)

Final regulations under I.R.C. §45V and §48 implementing the credit for production of clean hydrogen and certain provisions of the energy credit as enacted by the Inflation Reduction Act of 2022, the IRS released. The rules provide for: (1) determining lifecyle greenhouse gas emissions rates resulting from hydrogen production processes; (2) petitioning for provisional emissions rates; (3) verifying production and sale or use of clean hydrogen; (4) modifying or retrofitting existing qualified clean hydrogen production facilities; (5) using electricity from certain renewable or zero-emissions sources to produce qualified clean hydrogen; and (6) electing to treat part of a specified clean ...