Nikola Eyes Lucrative Hydrogen Fuel Credits From Government Incentives

If electric-vehicle company Nikola Corp. can get its hydrogen fuel cell trucks and filling station network in operation, the company could pull in hundreds of millions a year from incentives in the Biden administration’s Inflation Reduction Act.

Key among them is an incentive for as much as $3 per kilogram of hydrogen produced. If Nikola hits its goal of producing 300,000 kilograms of hydrogen per day, the company could bank close to $1 million a day from the Federal Government. California offers another $1 to $2 per kilogram for dispensing hydrogen. Parts of the IRA, including incentives for hydrogen vehicles, are still being finalized.