Treasury, IRS issue guidance on the credit for the production of clean hydrogen and the election to treat clean hydrogen production facilities as energy property

IR-2024-102, April 10, 2024

WASHINGTON — The Treasury Department and Internal Revenue Service today issued guidance for the collection of information for taxpayers to request an emissions value from the Department of Energy (DOE) to petition the Secretary of the Treasury for a determination of a provisional emissions rate (PER).

On Dec. 26, 2023, the Department of the Treasury and the IRS issued proposed regulations relating to the credit for production of clean hydrogen and the election to treat clean hydrogen production facilities as energy property.

The proposed regulations provide procedures for taxpayers to petition for a PER determination and refer to the process for taxpayers to request an emissions value from the DOE to file a petition.

This guidance issued today contains supplemental information relating to the DOE’s emissions value request process and invites comments on that process.