BarbriSFCourseDetails

Course Details

This CLE webinar will provide attorneys with an in-depth analysis of key components of recent IRS regulations and guidance for tax credits for clean hydrogen production facilities as well as critical considerations for clean hydrogen developers and investors. The panel will discuss utilizing Section 45V credit for the production of clean hydrogen and the investment tax credit under Section 48(a)(15) for investment in and, development of clean hydrogen production projects. The panel will also discuss what projects are eligible, recent IRS guidance and requirements, and other critical items in determining the use of 45V PTC and hydrogen ITC.

Faculty

Description

Hydrogen presents opportunities to assist in the power sector by providing energy storage solutions for off-grid electricity and balancing electricity systems and other sectors such as heavy-duty transportation, manufacturing, and heating. Attorneys, developers, and investors involved in or seeking to establish clean hydrogen production facilities must understand the interplay between hydrogen tax credits and clean energy development and key considerations when determining which tax credit to utilize.

On Dec. 22, 2023, the IRS released proposed regulations addressing (1) the Section 45V credit for the production of clean hydrogen which provides a production tax credit for hydrogen produced over a 10-year period and (2) the investment tax credit under Section 48(a)(15) which can be used in lieu of the Section 45V. Contrary to the 45V PTC, the hydrogen ITC allows for a credit equal to a portion of the cost of certain property for the taxable year in which the clean hydrogen production facility is placed in service. However, determining which credit to utilize depends on a variety of factors that must be considered.

Although the potential benefits of using hydrogen and related products in energy are attractive, energy and tax attorneys must be aware of potential regulatory issues, available tax credits, and other legal matters for hydrogen and related product production, application, and usage.

Listen as our panel discusses utilizing the Section 45V credit for the production of clean hydrogen and the investment tax credit under Section 48(a)(15) for clean hydrogen investment. The panel will also discuss what projects are eligible, monetizing the hydrogen credits, recent IRS guidance and requirements, and other critical items in determining the use of 45V PTC and hydrogen ITC.

Outline

  1. Overview of hydrogen usage; applications
  2. Summary of the Section 45V credit for the production of clean hydrogen and the investment tax credit under Section 48(a)(15) for clean hydrogen investment
  3. New IRS regs and guidance
  4. Key considerations for energy companies, utilities, and investors

Benefits

The panel will review these and other key issues:

  • What are the potential uses of hydrogen in the renewable energy sector?
  • Key factors in determining qualification for a monetization of 45V PTC and Section 48(a)(15) ITC
  • Recent IRS guidance and key considerations and challenges for clean energy projects
  • What are the key considerations for investors and developers for hydrogen-related energy?