![]() "We have now entered a new phase in the clean energy transition, whereby new solutions and operational paradigms are necessary to accommodate an increasingly renewable grid and catalyze decarbonization. ![]() There's a lot of money on the line and while the details of the debate get a bit wonky, the debate itself represents a larger and more ideological fault line about how the United States should built its clean economy: One side says we should focus on emissions reductions from the outset, while the other says the foundation should be built and scaled quickly and perfected later. "Hydrogen is the first time the US government has been forced to directly address the question of verifying clean electricity inputs, so whatever framework it endorses here could set a very strong example for other emissions accounting systems going forward," Ricks said. "The hydrogen debate is at its surface level about defining clean hydrogen production, but more fundamentally it's about what an individual actor needs to do to credibly claim that their electricity consumption is clean," Wilson Ricks, who works in Jenkins' Zero-carbon Energy systems Research and Optimization research lab at Princeton, told CNBC. It could also set important precedents for how the government decides electricity used from the grid is really "clean." The adjudication of the hydrogen tax credit has become about more than just the hydrogen tax credit, too. "But without proper implementation, 45V could backfire, wasting a tremendous opportunity for the United States to become a global leader in new clean industries and causing a significant increase in domestic emissions that imperil U.S. "The IRA's section 45V production tax credit is the most generous clean hydrogen subsidy in the world," Jesse Jenkins, professor of macro-scale energy systems at Princeton University, told CNBC. ![]() The debate centers around how best to write rules that make sure that the hydrogen produced is actually clean so that it can be used as a climate-mitigation tool. It's now up to the Treasury to figure out how to implement it - and that's the tricky part. The proposed tax credit, 45V, is meant to turbocharge the production of low-emissions hydrogen. However, the only way hydrogen can be a viable solution for reducing carbon emissions is if it can be produced without releasing greenhouse gas emissions. Also, its capacity as an effective way of storing energy makes it attractive for renewable energy sources, like wind and solar, which are inherently intermittent - wind turbines make energy when the wind blows, and solar panels make energy when the sun shines. But more recently, hydrogen is being seen as a way to decarbonize industries like maritime shipping, long-haul trucking, steel-making, industrial heating, and aerospace. Hydrogen is already produced at scale for use in making fertilizer and in the petrochemical industry. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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