Biden’s Strict Hydrogen Tax Rules to ‘Loosen,’ Plug Power CEO Expects
- Plug CEO says hydrogen tax credit will get easier to claim
- Initial tax credit plans included strict environmental rules
Andy Marsh
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
Plug Power Inc. dubbed the new US rules on how hydrogen projects can qualify for a lucrative tax credit “disappointing,” but also expects restrictions around a key measure of President Joe Biden’s signature climate law to get looser once they are finalized by the Treasury Department.
“We do expect the regulations to loosen up,” Andy Marsh, president and chief executive officer of the Latham, New York-based hydrogen producer, said in an interview on Bloomberg Television. “I’ve talked to many senators who tell me it will get easier — not harder.”