Date: 01/15/2025
Type: Implementation of IRA
On January 15, 2025, DOE updated the 45VH2-GREET model, used by Treasury to calculate well-to-gate emissions levels of hydrogen production facilities for ultimately calculating Section 45V Clean Hydrogen Production Tax Credits. Treasury also released the 45Z-GREET model for calculating lifecycle GHG emissions for the 45Z Clean Fuel Production credit.
The section 45V Clean Hydrogen Production tax credit is funded by IRA section 13204, while the section 45Z Clean Fuel Production credit is funded by IRA section 13704.