Clean Hydrogen Production: Tax Credits for Green Energy.
This act introduces new tax credits for companies producing clean hydrogen, aiming to support the development of environmentally friendly energy sources. This could lead to citizens benefiting from cleaner technologies and potentially lower energy costs due to increased availability of green solutions. Additionally, the act promotes fair wages and apprenticeship programs for workers in the industry.
Key points
Companies producing clean hydrogen can receive tax credits, reducing their costs and encouraging investment in green technologies.
The credit amount depends on how much the hydrogen production process reduces greenhouse gas emissions compared to traditional methods.
Workers constructing and repairing clean hydrogen production facilities must be paid prevailing local wages, and companies must employ apprentices.
The act aims to increase the availability of clean hydrogen, potentially improving air quality and reducing reliance on fossil fuels.
Expired
Additional Information
Print number: 117_S_1807
Sponsor: Sen. Carper, Thomas R. [D-DE]
Process start date: 2021-05-25