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Benzinga
Benzinga
Business
Priya Nigam

Trump's Hydrogen Lifeline Could Revive Plug Power's Stalled Plans

Stuttgart,,Germany,-,03-17-2024:,Mobile,Phone,With,Logo,Of,American

In a move that could reshape the landscape of clean energy, President Donald Trump's recent signing of the "One Big Beautiful Bill" extends a lifeline to hydrogen production, offering a vital two-year grace period for companies eager to invest in this burgeoning sector.

The law allows the 45V clean hydrogen production tax credit to be available for projects that commence construction on hydrogen facilities by Dec. 31, 2027, an extension of 2 years vs. the prior draft's deadline, according to JPMorgan.

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