The article you linked to only discusses wind and solar, There are more funds going to other areas...
The bill — dubiously dubbed the Inflation Reduction Act of 2022 — includes $370 billion in energy-related spending. That’s only an estimate.
113/370=30 so what about the other 70%???
Your statement "NO MENTION OF HYDROGEN" is VERY misleading. The article doesn't mention hydrogen but the bill does.
From the actual bill:
SEC. 13204. CLEAN HYDROGEN.
(a) Credit For Production Of Clean Hydrogen.—
(1) IN GENERAL.—Subpart D of part IV of subchapter A of chapter 1, as amended by the preceding provisions of this Act, is amended by adding at the end the following new section:
“SEC. 45V. CREDIT FOR PRODUCTION OF CLEAN HYDROGEN.
“(a) Amount Of Credit.—For purposes of section 38, the clean hydrogen production credit for any taxable year is an amount equal to the product of—
“(1) the kilograms of qualified clean hydrogen produced by the taxpayer during such taxable year at a qualified clean hydrogen production facility during the 10-year period beginning on the date such facility was originally placed in service, multiplied by
“(2) the applicable amount (as determined under subsection (b)) with respect to such hydrogen.
“(b) Applicable Amount.—
“(1) IN GENERAL.—For purposes of subsection (a)(2), the applicable amount shall be an amount equal to the applicable percentage of $0.60. If any amount as determined under the preceding sentence is not a multiple of 0.1 cent, such amount shall be rounded to the nearest multiple of 0.1 cent.
“(2) APPLICABLE PERCENTAGE.—For purposes of paragraph (1), the applicable percentage shall be determined as follows:
“(A) In the case of any qualified clean hydrogen which is produced through a process that results in a lifecycle greenhouse gas emissions rate of—
“(i) not greater than 4 kilograms of CO2e per kilogram of hydrogen, and
“(ii) not less than 2.5 kilograms of CO2e per kilogram of hydrogen,
the applicable percentage shall be 20 percent.
“(B) In the case of any qualified clean hydrogen which is produced through a process that results in a lifecycle greenhouse gas emissions rate of—
“(i) less than 2.5 kilograms of CO2e per kilogram of hydrogen, and
“(ii) not less than 1.5 kilograms of CO2e per kilogram of hydrogen,
the applicable percentage shall be 25 percent.
“(C) In the case of any qualified clean hydrogen which is produced through a process that results in a lifecycle greenhouse gas emissions rate of—
“(i) less than 1.5 kilograms of CO2e per kilogram of hydrogen, and
“(ii) not less than 0.45 kilograms of CO2e per kilogram of hydrogen,
the applicable percentage shall be 33.4 percent.
“(D) In the case of any qualified clean hydrogen which is produced through a process that results in a lifecycle greenhouse gas emissions rate of less than 0.45 kilograms of CO2e per kilogram of hydrogen, the applicable percentage shall be 100 percent.
“(3) INFLATION ADJUSTMENT.—The $0.60 amount in paragraph (1) shall be adjusted by multiplying such amount by the inflation adjustment factor (as determined under section 45(e)(2), determined by substituting ‘2022’ for ‘1992’ in subparagraph (B) thereof) for the calendar year in which the qualified clean hydrogen is produced. If any amount as increased under the preceding sentence is not a multiple of 0.1 cent, such amount shall be rounded to the nearest multiple of 0.1 cent.
“(c) Definitions.—For purposes of this section—
“(1) LIFECYCLE GREENHOUSE GAS EMISSIONS.—
“(A) IN GENERAL.—Subject to subparagraph (B), the term ‘lifecycle greenhouse gas emissions’ has the same meaning given such term under subparagraph (H) of section 211(o)(1) of the Clean Air Act (42 U.S.C. 7545(o)(1)), as in effect on the date of enactment of this section.
“(B) GREET MODEL.—The term ‘lifecycle greenhouse gas emissions’ shall only include emissions through the point of production (well-to-gate), as determined under the most recent Greenhouse gases, Regulated Emissions, and Energy use in Transportation model (commonly referred to as the ‘GREET model’) developed by Argonne National Laboratory, or a successor model (as determined by the Secretary).
“(2) QUALIFIED CLEAN HYDROGEN.—
“(A) IN GENERAL.—The term ‘qualified clean hydrogen’ means hydrogen which is produced through a process that results in a lifecycle greenhouse gas emissions rate of not greater than 4 kilograms of CO2e per kilogram of hydrogen.
“(B) ADDITIONAL REQUIREMENTS.—Such term shall not include any hydrogen unless—
“(i) such hydrogen is produced—
“(I) in the United States (as defined in section 638(1)) or a possession of the United States (as defined in section 638(2)),
“(II) in the ordinary course of a trade or business of the taxpayer, and
“(III) for sale or use, and
“(ii) the production and sale or use of such hydrogen is verified by an unrelated party.
“(C) PROVISIONAL EMISSIONS RATE.—In the case of any hydrogen for which a lifecycle greenhouse gas emissions rate has not been determined for purposes of this section, a taxpayer producing such hydrogen may file a petition with the Secretary for determination of the lifecycle greenhouse gas emissions rate with respect to such hydrogen.
“(3) QUALIFIED CLEAN HYDROGEN PRODUCTION FACILITY.—The term ‘qualified clean hydrogen production facility’ means a facility—
“(A) owned by the taxpayer,
“(B) which produces qualified clean hydrogen, and
“(C) the construction of which begins before January 1, 2033.
“(d) Special Rules.—
“(1) TREATMENT OF FACILITIES OWNED BY MORE THAN 1 TAXPAYER.—Rules similar to the rules section 45(e)(3) shall apply for purposes of this section.
“(2) COORDINATION WITH CREDIT FOR CARBON OXIDE SEQUESTRATION.—No credit shall be allowed under this section with respect to any qualified clean hydrogen produced at a facility which includes carbon capture equipment for which a credit is allowed to any taxpayer under section 45Q for the taxable year or any prior taxable year.
“(e) Increased Credit Amount For Qualified Clean Hydrogen Production Facilities.—
“(1) IN GENERAL.—In the case of any qualified clean hydrogen production facility which satisfies the requirements of paragraph (2), the amount of the credit determined under subsection (a) with respect to qualified clean hydrogen described in subsection (b)(2) shall be equal to such amount (determined without regard to this sentence) multiplied by 5.
“(2) REQUIREMENTS.—A facility meets the requirements of this paragraph if it is one of the following:
“(A) A facility—
“(i) the construction of which begins prior to the date that is 60 days after the Secretary publishes guidance with respect to the requirements of paragraphs (3)(A) and (4), and
“(ii) which meets the requirements of paragraph (3)(A) with respect to alteration or repair of such facility which occurs after such date.
“(B) A facility which satisfies the requirements of paragraphs (3)(A) and (4).
AI
