Hydrogen Refundable Tax Credit

This tax credit may be claimed by taxpayers owning a hydrogen production system. The hydrogen must be produced using either a renewable energy source (green hydrogen) or renewable natural gas. Credits of $0.12 per kg of hydrogen produced may be claimed in a tax year, not exceeding 5600 metric tons of hydrogen. Projects must be completed and placed into service after January 1, 2022, and the taxpayer can claim this credit for 4 years after service begins. If a taxpayer claims this credit, they cannot claim other credits in the “Renewable Energy Tax Credits” package.