There’s a lot of discussion about potential rules and regulations around the PTC. I think an additionality, an hourly time matching, and a regionality requirement that companies would have to meet in order to be eligible for the it. What’s your take on that?<\/strong><\/h2>\n\n\n\nIt is a good idea to be concerned about where the primary energy is coming from. When we make renewable hydrogen via electrolysis, we would like it to be made from solar, wind or nuclear power that have zero carbon emissions. Those are the only kinds of things that are going to qualify for the $3 tax credit.<\/p>\n\n\n\n
We can make sure that’s the case through lots of different mechanisms. One of them is to use already curtailed electricity that exists in California or in many jurisdictions, or solar and wind power that’s available at negative prices in markets that have built a lot of sun and wind power. They built this without any additionality constraint and incentives put a value on the produced electricity, which made it cost-effective. As a result, people adopted even more than they thought.<\/p>\n\n\n\n
The same will happen with hydrogen. Without an additionality constraint, without forcing hydrogen to use a new sun resource or a new wind resource, you\u2019ll see a demand on the market that will put new solar and new wind out there anyway.<\/p>\n\n\n\n
In California, the grid is already getting cleaner at every hour of the day. As that continues to happen, there’s no need to add time stamping to make sure that happens. We’re already under a constraint to be 100% renewable by 2045. That is assisted by investing in hydrogen because it offers another vector for using that sun and wind power and producing the hydrogen from the sun and wind power at certain hours and using it at other hours.<\/p>\n\n\n\n
What’s the final constraint? It’s regionality. This means that you want to make sure that if you produce a unit of sun and wind energy in a certain place, that there’s a way that you could deliver that to the end user. Again, hydrogen doesn\u2019t impede that. It helps it.<\/p>\n","protected":false},"excerpt":{"rendered":"
Luke Wentlent, Ph.D., Principal R&D Engineer and Jack Brouwer, Ph.D. Professor of Mechanical and Aerospace Engineering at UC Irvine The passing of the Inflation Reduction Act (IRA), and especially the new 45V tax credit for hydrogen production, demonstrates the United States\u2019s commitment to combatting climate change. With billions of dollars at stake, we\u2019ve seen a ...<\/p>\n","protected":false},"author":18,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-11581","post","type-post","status-publish","format-standard","hentry","category-blog"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.plugpower.com\/wp-json\/wp\/v2\/posts\/11581"}],"collection":[{"href":"https:\/\/www.plugpower.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.plugpower.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.plugpower.com\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.plugpower.com\/wp-json\/wp\/v2\/comments?post=11581"}],"version-history":[{"count":0,"href":"https:\/\/www.plugpower.com\/wp-json\/wp\/v2\/posts\/11581\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.plugpower.com\/wp-json\/wp\/v2\/media?parent=11581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.plugpower.com\/wp-json\/wp\/v2\/categories?post=11581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.plugpower.com\/wp-json\/wp\/v2\/tags?post=11581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}