Replies to post #56453 on Plug Power Inc (PLUG)

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‘Substantial’ subsidy programmes being undermined by bureaucracy and poor regulation, says senior executive

'We should be taking FID on one of our largest hydrogen projects this year — this is why we won't be': Uniper
Rachel Parkes Published 13 May 2024

Developers of large-scale green hydrogen projects in Europe are being held up by excessive bureaucracy around subsidies and in some countries, poor regulation, a senior executive from Uniper has complained — citing these problems as the reasons behind the company’s decision to defer a final investment decision (FID) on the first phase of its flagship 500MW H2Maasvlakte renewable H2 project in the Netherlands.
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“We need to be able to deliver business cases,” he said. “We are in industry, we should not be here to write funding applications. We should be here to take final investment decisions and deliver projects and after we’ve delivered one we should deliver the next one. This is what we are prevented from doing.”

The company handed back a funding award for H2Maasvlakte from the EU’s Innovation Fund earlier this year when it became clear that it would not take FID — which had been on course to be taken this year.

“In other industries what it is needed to deliver a successful project is a good engineering team, a good commercial team, a good set of customers and suppliers,” Stuckmann told the summit audience. “What you need in hydrogen is a battalion of people who are able to write funding applications. And then you need people who are able to manage funding applications and to answer all the enquiries that are coming in.”
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https://www.hydrogeninsight.com/policy/we-should-be-taking-fid-on-one-of-our-largest-hydrogen-projects-this-year-this-is-why-we-wont-be-uniper/2-1-1642756

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The Clean Vehicle Tax Credit took exactly 4 months from “public comments” (January 3, 2024) to “final regulations” (May 3, 2024).
But with the 45V there was a second public consultation until 13 May (first consultation was until 26 February).


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.

Could newly announced public consultation on US hydrogen tax credits delay their roll-out?
12 April 2024
https://www.hydrogeninsight.com/policy/could-newly-announced-public-consultation-on-us-hydrogen-tax-credits-delay-their-roll-out-/2-1-1626130


Written or electronic comments must be received by February 26, 2024. The public hearing on these proposed regulations is scheduled to be held on March 25, 2024, at 10 a.m. (ET).

Section 45V Credit for Production of Clean Hydrogen; Section 48(a)(15) Election To Treat Clean Hydrogen Production Facilities as Energy Property
A Proposed Rule by the Internal Revenue Service on 12/26/2023
https://www.federalregister.gov/documents/2023/12/26/2023-28359/section-45v-credit-for-production-of-clean-hydrogen-section-48a15-election-to-treat-clean-hydrogen

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On May 3, 2024, the U.S. Department of Treasury (Treasury) and Internal Revenue Service (IRS) released final regulations regarding the clean vehicle tax credits for electric vehicles (EV) under Section 30D (Section 30D Credit) of the Internal Revenue Code of 1986, as amended (the “Code” and “Final Regulations”)1.

U.S. Treasury Releases Final Electric Vehicle Tax Credit Regulations
May 10, 2024
https://www.sidley.com/en/insights/newsupdates/2024/05/us-treasury-releases-final-electric-vehicle-tax-credit-regulations


Request for public feedback
The DOE proposed rules are open for public comment until January 3, 2024.

New Details on the Section 30D Clean Vehicle Tax Credit's Foreign Entity of Concern Restrictions
14 December 2023
https://www.whitecase.com/insight-alert/new-details-section-30d-clean-vehicle-tax-credits-foreign-entity-concern-restrictions