ComEd adds first all-electric bucket trucks to its growing fleet of electric vehicles
Electric Hydrogen secures $100M credit facility from HSBC, J.P. Morgan, Stifel Bank and Hercules Capital to support 100 MW electrolyzer plants

Seven hydrogen-related projects to receive more than $300M in 48C tax credits

The US Department of Energy (DOE) recently announced details for 35 projects across 20 states that received a total of $1.93 billion in allocations of the Qualifying Advanced Energy Project Credit (48C). This information was voluntarily shared with DOE by the recipients of the tax credits, including the following seven hydrogen-related projects, which span five states and received more than $300 million in credit allocations:

Cummins Inc. $10.6M Industrial Decarbonization
Electric Hydrogen Co. $18.3M Industrial Decarbonization
John Cockerill Hydrogen North America $34.1M Industrial Decarbonization
Nel Hydrogen $41M Industrial Decarbonization
Topsoe SOEC Production US Inc. $136M Industrial Decarbonization
Ballard Power Systems $54M Clean Energy and Clean Vehicle Manufacturing
Nuvera Fuel Cells $14.1M Clean Energy and Clean Vehicle Manufacturing

p>The 48C credit is a tax credit funded through the Inflation Reduction Act, aimed at accelerating clean energy manufacturing and recycling and reducing greenhouse gas emissions at industrial facilities. It is an investment tax credit, which provides credits for up to 30% of qualified investments, provided they meet prevailing wage and apprenticeship requirements.



More renewable energy means a more secure future

The comments to this entry are closed.