Partners Casey August, Douglas Hastings, Kenneth Kulak, and Mark Lazaroff, and associates Andreas Andrews and Jared Sanders co-authored a Law360 Expert Analysis discussing the US Department of the Treasury and the Internal Revenue Service’s proposed regulations for the clean hydrogen tax credits under Sections 45V and 48 of the Internal Revenue Code, as enacted by the Inflation Reduction Act.
The article gives an overview of the proposed regulations, which provide key guidance for claiming the production tax credit and investment tax credit available under Sections 45V and 48 of the Internal Revenue Code, respectively. The authors also examine the proposal’s approach to the so-called three pillars for use of electrical power—incrementality, temporal matching, and deliverability.