Companies, Groups Clash Over IRS Hydrogen Tax Credit Regulations

Several hydrogen developers and energy groups argued Monday at an IRS hearing that proposed hydrogen tax credit rules issued late last year will stymie the industry and nix many projects that otherwise would happen.

Developers and others seeking laxer rules urged the Treasury Department to tweak or reject restrictions, grandfather projects under construction before the rules are finalized, and extend timelines for some of the stricter requirements. At the same time, some including environmental groups pushed back, arguing the strict rules were needed to make sure the hydrogen that is produced will in fact cut emissions.

“It really will handicap ...