Sail GP Halifax: The Extreme Race Experience | SaltWire #racing #sailing #catamaranWASHINGTON - Some companies planning to use new U.S. tax credits to deploy hydrogen projects urged the Treasury Department this week to ease proposed environmental requirements, warning that they could hinder the nascent industry’s takeoff.
The credit has been at the center of heavy lobbying by industry groups seeking to build projects, as well as environmental advocates worried that a proliferation of hydrogen projects will backfire by boosting energy demand and raising greenhouse gas emissions. Australian firm Fortescue said the requirements would hurt a project it is pursuing the Pacific Northwest, which won Energy Department support last year.
Frank Wolak, president of the Fuel Cell and Hydrogen Energy Association industry group, said the requirements had cooled investor interest in hydrogen projects. The lobby group asked that projects launched before the guidance is finalized be exempted.