The Republican-dominated legislature in the US state of Oklahoma — which continues to legislate against climate-mitigation measures — is set to introduce a new subsidy for hydrogen producers and users in the state. Senate Bill 1428 is offering an “investment rebate payment” equal to 6.25% of the capital expenditure (capex) of a hydrogen project, providing that total capex is more than $800m, and...
Hydrogen Subsidies
South Korea wants to be a world leader in hydrogen vehicles, with a goal of 300,000 units on its roads by 2030, up from 34,260 today. But sales of hydrogen-powered cars plummeted to a new low in January, with only two units sold across the country, according to the Ministry of Trade, Industry and Energy — a 99.4% fall compared to the same month in 2023 — despite the widespread availability of...
Exxon should be eligible for IRA incentives for a low-carbon hydrogen project expected to be the largest in the world. If it isn't, the company will probably scrap it, chief executive Darren Woods told Bloomberg.The current IRA distribution eligibility criteria single out only green hydrogen as eligible for federal financial support. Exxon's project will produce so-called blue hydrogen, which is...
Japanese oil & gas firms Eneos and Idemitsu Kosan have signed a memorandum of understanding with utility Hokkaido Electric Power Company (Hokuden) to develop a green hydrogen project with at least 100MW of electrolysis capacity within the country by 2030. This plant, capable of producing 10,000 tonnes of H2 a year, is the largest yet proposed to be built in Japan, which has predominantly focused its...
The US Treasury’s draft guidance for the 45V clean hydrogen production tax credit closed for comment yesterday, with almost 30,000 responses sent in from industry, environmental groups, and private citizens. The sheer volume of comments could potentially increase the time needed to finalise these long-awaited regulations, which will determine the rules by which projects would be eligible for the 2022...
As the United States government rolls out billions of dollars in subsidies to produce hydrogen fuel for use in vehicles, factories, and power plants, a growing body of evidence is undercutting its clean credentials.The U.S. Department of Energy (DOE) recently awarded $7 billion to seven regional hydrogen production hubs, on top of a lucrative tax credit whose rules have become the subject of intense...
The Indian government has revised its list of winners for the first auction for electrolyser manufacturing subsidies, originally announced in January, after steelmaker Jindal — which had won incentives for 300MW of annual manufacturing capacity — dropped out of the process. According to anonymous sources cited by local newspaper Mint in early February, Jindal had missed a deadline on 3 February for...
Tree Energy Solutions (TES), which is developing a massive liquefied natural gas (LNG) import terminal at Wilhelmshaven in Germany with a view to later producing and importing e-methane made from green hydrogen, has been granted an exemption from open market regulations. TES — which was characterised as a “subsidy harvester” by independent energy analyst and investor Michael Liebreich last year on...
The European Commission has approved a €900m ($974m) scheme by France’s government to support the production of renewable hydrogen- and biomass-based fuels for industry and transport. The French government plans to allocate direct grants to cover a portion of investment costs associated with producing these fuels by the end of 2025. However, it is unclear whether this €900m of state aid...
Big Oil and other polluters are leading a “massive lobbying campaign” against the US Treasury’s proposed clean hydrogen production tax credit guidelines, centred on “greenwashing” hydrogen produced from renewables and natural gas”, says a new report entitled The Hydrogen Hustle by Friends of the Earth. The US government released proposed guidelines back in December to ensure that companies...