Statement from Third Way Senior Vice President for Climate and Energy Josh Freed on 45V Hydrogen Tax Credit Guidance

WASHINGTON—Third Way released the following statement from Senior Vice President for Climate and Energy Josh Freed:

“Clean hydrogen has the potential to push the energy transition forward exponentially, helping to make the United States even more energy independent and slashing emissions in hard-to-address industries.

Federal policies like the 45V hydrogen production tax credit must be implemented to take full advantage of America’s assets to establish a domestic clean hydrogen economy. With well-designed rules, nuclear power plants can contribute carbon-free electricity when and where it’s needed for clean hydrogen production, while keeping the US on the path to a carbon-free grid. Third Way has submitted comments to the Treasury Department outlining how this rule should put nuclear power to work in achieving the Biden Administration’s economic development, energy security, and emissions goals.

The hydrogen tax credit is a historic step forward for the United States to lead in developing the global clean hydrogen economy. The Administration must ensure its rule unlocks the full potential of this tax credit by allowing nuclear energy to play a role. Without a comprehensive and inclusive approach, the US risks losing the race for clean hydrogen to foreign competitors.”

See Third Way’s public comment here.