Biden Treasury Dept. About to Kill ALL Hydrogen Energy Hubs - Marcellus Drilling News
Biden Treasury Dept. About to Kill ALL Hydrogen Energy Hubs | Marcellus Drilling News
In early January, MDN told you that a new IRS rule (45V) issued in late December, if it stands, will block construction of the multi-billion-dollar Appalachian Regional Clean Hydrogen Hub (ARCH2), a project that would use Marcellus/Utica natural gas as the feedstock to produce “blue” hydrogen (see Biden’s Proposed IRA 45V Tax Credit “Kneecaps” ARCH2 Hydrogen Hub). ARCH2 is not the only one of the seven national projects being funded by the Bidenistas that will get blocked under the proposed IRS 45V regulation. In fact, all of them are at risk.
Related Knowledge Center: ENERGY BASICS: solar
Declining costs and government encouragement have resulted in a rapid increase in solar energy production in the United States over the past 10 years, although solar’s share remains small: 1.6 percent of all electricity generation in 2018. That rapid growth is projected to continue.