Plug Power Inc (PLUG)

[B_B!]

Could newly announced public consultation on US hydrogen tax credits delay their roll-out?
Treasury Department now seeks comments on proposed emissions value request process
12 April 2024 By Leigh Collins

A new public consultation related to one aspect of the controversial proposed regulations for the US 45V hydrogen production tax credit was announced yesterday by the US government that could further delay the implementation of the all-important subsidy.
…..
However, it seems that only projects planning to use technologies that are not included in the official emissions modelling tool — 45VH2-GREET (Greenhouse gases, Regulated Emissions, and Energy use in Technologies) — would need to apply for a PER. The GREET model only covers electrolysis, methane and landfill gas reforming, and coal and biomass gasification, leaving out production methods such as waste-to-hydrogen and pyrolysis (heating methane in the absence of air so CO2 cannot be produced).

The PER clause in the NPRM document provides no detail about how the government would determine the provisional emissions rate — which seems to have led the Treasury Department to launch a public consultation on this process.
Developers and members of the public now have until 13 May to comment on the new PER proposals.

This means that it is highly unlikely that the controversial 45V regulations will be finalised until after this new consultation ends and is analysed by government officials — suggesting that regulations are unlikely to be finalised until June at the earliest.
…..
The GREET model has also proved to be controversial among developers because it is due to be updated annually or can be replaced by a similar system as determined by the Energy Secretary of the day, meaning that projects that qualify for one tax credit bracket in one year might not qualify for that same tax bracket the following year — adding a layer of uncertainty that is unhelpful for calculating future income and securing loans.
…..
https://www.hydrogeninsight.com/policy/could-newly-announced-public-consultation-on-us-hydrogen-tax-credits-delay-their-roll-out-/2-1-1626130