The Inflation Reduction Act of 2022, anticipated to pass next week, includes incentives for hydrogen, nuclear and energy storage.

The bill will make a historic down payment on deficit reduction to fight inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by roughly 40 percent by 2030.

The sweeping bill includes nearly $370B on energy security and climate change initiatives. Congress members, who have pushed an ambitious climate and clean energy package, claim it would reduce carbon emissions roughly 40% by 2030.

The legislation includes a tax credit for qualified clean hydrogen producing facilities.

Read a summary of the bill.

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