Legislation Will Accelerate Investment in Critical Hydrogen and Fuel Cell Sector
WASHINGTON, Aug. 16, 2022 /PRNewswire/ -- Today, President Joe Biden will sign the Inflation Reduction Act of 2022 into law, undertaking an historic national investment in clean energy technologies and solutions, including hydrogen and fuel cells. This legislation includes a suite of tax provisions and funding opportunities that will enable monumental investments in hydrogen and fuel cell technologies, fostering economic growth and encouraging decarbonization across a wide range of sectors of the American economy.
"Through continuous outreach across our broad membership, the Fuel Cell and Hydrogen Energy Association (FCHEA) has long been leading the charge working with Congress and the Administration to develop the policy tools necessary to advance the American hydrogen sector," said FCHEA President and CEO Frank Wolak. "We are thrilled by the passage of this bill, as the robust clean energy package, including the crucial new clean hydrogen production tax credit, will accelerate investment in an emerging hydrogen economy, helping our nation achieve its decarbonization goals, while supporting domestic jobs and manufacturing."
"With the Infrastructure Investment and Jobs Act, and now the passage of the Inflation Reduction Act, our industry is positioned to support expanded clean hydrogen production and utilization for transportation, energy storage, power generation, industrial applications, and more," added Mr. Wolak. "FCHEA member companies will continue to lead the way in our growing hydrogen economy, building on the foundation these policies provide and driving deployment."
"FCHEA looks forward to continuing to work with Congress and the Administration to implement these new credits and policies and ensure the United States remains an innovative hydrogen technology leader in driving a prosperous economic and environmental future," added Mr. Wolak.
The Fuel Cell and Hydrogen Energy Association (FCHEA) is the leading industry association in the United States representing more than eighty-five leading organizations advancing production, distribution, and use of innovative, clean, safe, and reliable hydrogen energy. For over 30 years FCHEA has provided a consistent industry voice to policymakers and regulators, driving support at the federal and state level. Our educational efforts promote the environmental and economic benefits of hydrogen energy and fuel cell technologies. Visit us online at www.fchea.org.
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SOURCE Fuel Cell and Hydrogen Energy Association (FCHEA)