Squaring off between carbon taxes and renewable energy incentives
21 Sep 2022
Some European renewable energy producers are concerned that the EU may lose green energy investments to the United States in the wake of recently enacted U.S. legislation.
The Inflation Reduction Act (IRA, P.L. 117-169) boasts a roster of renewable energy tax incentives, including a new clean hydrogen production tax credit (section 45V) tied to the amount of greenhouse gas emissions released during the hydrogen manufacturing process. Clean hydrogen producers are particularly pleased with the U.S. credit, but they recently were concerned about proposed rules out of the European Commission that they believed could stifle production.
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