December 22

The U.S. Department of the Treasury and Internal Revenue Service released guidelines on a Hydrogen
Production Credit, Friday, December 22nd. These new restrictions institute significant change in what
qualifies as “hydrogen power development” to receive large federal tax credits. As expected, these

regulations are supported by environmentalists and some green energy companies but are not
supported by business and clean power industry groups. In the end, these restrictions will discourage
investment, inflate the cost of hydrogen, and work against the low-carbon power sources that already
exist. The U.S. Chamber of Commerce said the new guidance will “stunt the growth of a critical industry
before it has even begun.”