Biden Loosens Rules for Hydrogen Subsidies Worth Billions (3)

The Biden administration loosened some stringent safeguards on a tax credit worth billions of dollars for hydrogen production, after companies argued the rules would stifle domestic manufacturing of the fuel.

The tax credit created by President Joe Biden’s signature climate law now includes a carve-out, sought by companies including Constellation Energy Corp., that will benefit some existing nuclear power plants, according to final rules released by the Treasury Department Friday.

The rules, which were released in draft form in December 2023, also provide pathways for hydrogen made from natural gas with carbon capture systems, methane and renewable natural gas …