Published by Todd Bush on September 30, 2024
Today, the U.S. Department of Energy (DOE) opened its Emissions Value Request Process in support of the U.S. Department of the Treasury’s (Treasury) implementation of the Clean Hydrogen Production Tax Credit (45V) enacted by the Inflation Reduction Act (IRA). The process opening today is for taxpayers whose hydrogen production technology and/or feedstock is not included in the most recent version of the 45VH2-GREET model. These taxpayers can use the Emissions Value Request Process to request an emissions value from DOE, which is necessary to petition the Internal Revenue Service (IRS) for a determination of a provisional emissions rate (PER).
>> In Other News: OCED Announces Notice of Intent to Fund $1.3 Billion for Transformational Emissions Reducing Technologies to Support Our Clean Energy Future
This Process was introduced in Treasury’s December 2023 Notice of Proposed Rulemaking for the 45V tax credit. Treasury then issued a supplemental notice of proposed rulemaking in April 2024 to invite comment on the information collection proposed for the Emissions Value Request Process. DOE and Treasury have considered the comments received by stakeholders, and DOE has now specified procedures and requirements to access the process and is accepting applications.
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