Published by Todd Bush on January 6, 2025
EDF Statement from Beth Trask, Vice President, Global Energy Transition
Today, the Department of Treasury finalized guidance for the 45V Tax Credit for the Production of Clean Hydrogen. The tax credit, authorized by the Inflation Reduction Act, creates a new 10-year incentive for clean hydrogen up to $3.00/kg.
>> In Other News: Illinois Carbon Capture Project Captures Almost No Carbon
"45V offers a pathway to cut climate pollution through renewable-based hydrogen, while building a new market for U.S.-made low-emission fuels and electrolyzer equipment."
"Proper implementation of the production tax credit could help catalyze private investment, lower costs and drive global demand for American-made hydrogen."
"But risks remain that public incentives for clean hydrogen could go toward fossil fuel-based projects that offer no real climate benefit and undermine the integrity of the U.S. hydrogen market."
"Clean hydrogen can help clean up parts of the economy that are hard to decarbonize any other way, but only if we do it right."
"At a minimum, any fossil fuel-based hydrogen projects must: (1) accurately measure and report their upstream methane emissions, (2) verify that carbon emissions are captured and securely stored, and (3) rigorously disclose all pollution and avoid accounting tricks that mask impacts."
"In addition, blue hydrogen projects can pose health risks to nearby communities that must be carefully evaluated and addressed."
"Finally, a strong and stable federal methane policy is essential to begin to address the harmful upstream methane pollution associated with fossil-based hydrogen projects."
Environmental Defense Fund (EDF), one of the worldโs leading international nonprofit organizations, creates transformational solutions to the most serious environmental problems. To do so, EDF links science, economics, law, and innovative private-sector partnerships. With more than 3 million members and offices in the United States, China, Mexico, Indonesia, and the European Union, EDFโs scientists, economists, attorneys, and policy experts are working in 28 countries to turn solutions into action. Connect with us on Twitter @EnvDefenseFund.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue ๐๏ธ California Resources Corporation Achieves First COโ Injection at Carbon TerraVault I, a Major Milestone for Carbon Management in California ๐ Plug and Carlton Power, Barrow Gr...
Inside This Issue ๐ฑ Microsoft's BioCirc Deal Signals BECCS Is Now Bankable ๐ Hydrogen Exploration in Iowa Well Underway ๐ข๏ธ Alberta Sees Oil Sands Deal on Carbon Project Within Two Months ๐ This Ca...
Inside This Issue ๐ซ Boeing Backs $10M Quebec SAF Project to Fly by 2027 ๐๏ธ Eni CCUS Holding Expands the Financing Sources for Its Platform of CCS Projects ๐ GeoRedox and Canada Nickel Launch First...
EP Carbon's Drawn Carbon Platform Puts Forest Project Quality First
The voluntary carbon market has spent the last few years reckoning with a hard truth: not all carbon credits are created equal. Price differentiation between high- and low-quality carbon credits wi...
Econetix Closes Multi-Million Dollar CORSIA Supply Deal With SmartestEnergy
Vienna-based Carbon Asset Manager signs second major CORSIA offtake agreement within months, this time with Marubeni Group subsidiary, SmartestEnergy Vienna, Austria, Mai 2026: Econetix, a Carbon ...
Ohio Senate Passes Substitute Bill on Carbon Capture and Storage Activity
Legislation introduced over a year ago to allow for carbon capture and storage (CCS) activity in Ohio has progressed through the Senate, but in a different version than passed by the House.ย Delibe...
Reaching final investment decision (FID) is one of the clearest signals that a project is moving from vision to reality. Thatโs why the 30 MW Barrow Green Hydrogen project reaching FID is such a s...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.