Plug Power wants to work with Trump administration to redraw new hydrogen tax credit regulations
US electrolyser maker CEO Andy Marsh suggests that the final 45V rules unveiled on Friday do not align with congressional intent and do not 'ensure national energy security'
The new hydrogen tax credit regulations unveiled on Friday should be redrawn by the incoming Trump administration, suggests Andy Marsh, the long-standing CEO of US green hydrogen company Plug Power.
He also told this publication that “ultimately, the US will get [the regulations] right”.
In a message posted on social media late on Friday — but not on Plug’s own website — Marsh wrote that the final regulations “mark significant progress… and lay a stronger foundation for US manufacturing in the hydrogen economy”.
However, he added: “While these updates are encouraging, we look forward to collaborating with the new administration to refine the regulations in a way that aligns with congressional intent, supports their goal of reducing overregulation, and ensures national energy security.”
The incoming Trump administration — led by a president who says that climate change is a hoax — wants to scrap environmental-protection regulations that increase costs for polluting companies, while also increasing US production of planet-harming fossil fuels.
Trump also stated on the campaign trail that he wanted to remove all unspent funding from the Inflation Reduction Act, while the Republican-leaning Supreme Court made a ruling last summer that makes it easier for courts to overturn government agency regulations.
Marsh would undoubtedly reject such a claim, telling the market last year that “operationally, we are not dependent upon the DOE loan for 2024”.
The New York-state-based company had also called for projects built before the end of 2026 to be eligible for the tax credit even if they draw on existing clean power from the grid, as well as specific carve-outs for the use of existing clean baseload power such as nuclear and hydro.
The final regulations did allow nuclear-derived electrolytic hydrogen to qualify for the tax credits, but only for projects using power from nuclear plants that were at risk of retirement.