Biden proposes climate stipulations for hydrogen tax credit - Yahoo News

Biden proposes climate stipulations for hydrogen tax credit

The Treasury Department on Tuesday proposed guidance that officials said would ensure the nascent hydrogen industry develops sustainably — rather than becoming a significant contributor to global warming.

But many industry players say the rules could hamper growth.

Hydrogen could be a key tool to transition industries whose emissions are hard to eliminate to clean power sources.

The tax credits are key for making hydrogen from low- or no-emitting sources economically viable.

In order to qualify, hydrogen power made from renewable energy will have to:
Get its power from new energy sources, instead of electricity that’s already on the grid Have that new energy source located in the same geographic region as the hydrogen production Starting in 2028, have that power be produced in the same hours as the hydrogen production

Officials said they included these guidelines because hydrogen production uses a significant amount of electricity, and they don’t want to pull existing energy from the grid that would increase demand for power overall.

Increased demand for power in general could mean more fossil fuels, they noted.

Former White House lawyer Ty Cobb predicted Tuesday that the U.S. Supreme Court could rule “9-0” in favor of former President Trump in a potential appeal of Colorado Supreme Court’s ruling that would kick Trump off the state’s ballot. Read more

Opinions in The Hill

Op-eds related to energy & environment submitted to The Hill:

The federal tax credit for electric vehicles is about to change in one particular way that will make it far more attractive to buyers. The Lincoln Corsair Grand Touring SUV will be eligible for half of the credit, while the Mustang Mach-E, Lincoln Aviator Grand Touring plug-in hybrid and E-Transit van won’t.

The guidance sent to schools allows for multi-time transfers in football and other sports to enter the NCAA transfer portal this fall or in the spring and then play immediately next year without a waiver.

What is so fascinating about Detroit's 25-game losing streak is that the team entered the season wanting to win and certainly does not want to lose to the Nets on Saturday and Tuesday, losses that would tie and break the NBA's single-season record for futility.

Members of the Congressional Black Caucus have written to the United States’ Acting Secretary of Labor, Julie Su, expressing concerns over the disproportionate impact tech layoffs could have on Black workers, according to a letter seen by TechCrunch. First reported by The Grio, the letter contains a list of questions regarding the steps the Department of Labor has taken to monitor the impact of tech layoffs on African Americans, its regulations around business practices and what the Department of Labor has done to ensure recent Supreme Court cases are not being used to undermine corporate DEI practices and budgets.

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. The decline and fall of SVB: Much has happened since the chaos at Silicon Valley Bank unfolded earlier this year, but the sudden and shocking downfall of what was effectively the family bank of tech sent waves throughout the global technology landscape. Chaos at OpenAI: Another weekend-powered period of high drama in tech this year was the defenestration of Sam Altman from his role at OpenAI, only for the tide to entirely flip in short order, Altman back to the co, and most of the folks who wanted him out gone themselves.