US Congress on Friday (August 12) passed the much anticipated Inflation Reduction Act (IRA) to see an offering of tax credits for low carbon hydrogen production and hydrogen fuel cell-electric vehicles signed into law.

With a final vote of 220-207, the Act has made its ascent to US President Joe Biden to be signed into law, marking a milestone for the US hydrogen industry.

Previously described as ‘the most significant legislation in history to tackle the climate crisis’ by President Biden, the Act enclosed a bill which would see producers of clean hydrogen up to $3 per kg of tax credits, as well as making up to $7,500 available for new hydrogen-electric vehicles.

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