BayoTech – Driving Down the Cost of Clean Hydrogen Production with Gabriel Olson
The Inflation Reduction Act (IRA), signed into law by President Biden on August 16, 2022, authorized $391 billion in spending on energy and climate change as part of a $738 billion overall package. The Environmental Protection Agency called the IRA “…the most aggressive action in tackling the climate crisis in U.S. history.”
A vital element of the IRA is a package of hydrogen production tax credits (PTCs) designed to stimulate clean hydrogen production and consumption and spur innovation in the sector.