 Energy & Environment |
Energy & Environment |
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Hydrogen subsidy guidance to include strict climate rules |
In order to access a lucrative tax credit, hydrogen energy producers will have to follow significant climate rules under a new proposal. |
© (AP Photo/Patrick Semansky |
The Treasury Department on Tuesday proposed guidance that officials said would ensure the nascent hydrogen industry develops sustainably — rather than becoming a significant contributor to global warming. But many industry players say the rules could hamper growth. Hydrogen could be a key tool to transition industries whose emissions are hard to eliminate to clean power sources. The tax credits are key for making hydrogen from low- or no-emitting sources economically viable. In order to qualify, hydrogen power made from renewable energy will have to: - Get its power from new energy sources, instead of electricity that's already on the grid
- Have that new energy source located in the same geographic region as the hydrogen production
- Starting in 2028, have that power be produced in the same hours as the hydrogen production
Officials said they included these guidelines because hydrogen production uses a significant amount of electricity, and they don't want to pull existing energy from the grid that would increase demand for power overall. Increased demand for power in general could mean more fossil fuels, they noted. Read more in a full report at TheHill.com. |
Welcome to The Hill's Energy & Environment newsletter, I'm Rachel Frazin — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains. Programming note: This is our last newsletter of the year. Have a great holiday season — we'll see you in 2024! |
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How policy will affect the energy and environment sectors now and in the future: |
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Federal scientists have repeated their breakthrough toward nuclear fusion energy three times this year — and now say they can "consistently" produce fusion energy. |
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| Moderate Democrats are fuming over the Biden administration's decision to propose significant climate change-related stipulations on the use of a lucrative tax credit for hydrogen energy producers. |
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Branch out with a different read on The Hill: |
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A key annual inflation metric fell below 3 percent in November, the latest sign that the U.S. is coming in for a rare soft landing from high price growth without a recession. |
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News we've flagged from other outlets touching on energy issues, the environment and other topics: |
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This Country Is Responsible For Less Than 1% Of Global Emissions. Climate Change Is Tearing It Apart Anyway. (HuffPost)
Angola to Quit OPEC in Dispute Over Oil Production Levels (The New York Times)
Are EVs booming or flopping? Both are true. (E&E News/Politico)
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Two key stories on The Hill right now: |
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A poll released this week found Republican presidential candidate Nikki Haley trails former President Trump by 4 points in New Hampshire, prompting online outrage from the former president. Read more |
| Former White House lawyer Ty Cobb predicted Tuesday that the U.S. Supreme Court could rule “9-0” in favor of former President Trump in a potential appeal of Colorado Supreme Court’s ruling that would kick Trump off the state’s ballot. Read more |
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Op-eds related to energy & environment submitted to The Hill: |
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You're all caught up. See you tomorrow! |
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