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☆ The Biden administration unveiled its hydrogen tax credit proposal, estimated to deliver $140 billion in revenue and 700,000 jobs by 2030
▼ + stars: | 2023-12-22 | by ( Associated Press | ) www.businessinsider.com time to read: +7 min

Officials estimate the hydrogen production credits can deliver $140 billion and 700,000 jobs by 2030. Administration officials estimate the hydrogen production credits will deliver $140 billion in revenue and 700,000 jobs by 2030 — and help the US produce 50 million metric tons of hydrogen by 2050. Firms that produce hydrogen using fossil fuels get less. The Fuel Cell & Hydrogen Energy Association includes more than 100 members involved in hydrogen production, distribution and use, including vehicle manufacturers, industrial gas companies, renewable developers and nuclear plant operators. Some of the money will flow to regional networks, or "hubs," of hydrogen producers, consumers and infrastructure that the Biden administration is also trying to kickstart with a $7 billion program.

Persons: —, Biden, Jesse Jenkins, David M, Turk, Joe Biden, Elizabeth Flores, Rachel Fakhry, Marty Durbin, Frank Wolak, Wolak, Chuck Schmitt, Jennifer M, Granholm Organizations: Biden, Service, Princeton University, Energy, Cummins, Generation, Star Tribune, Getty, Natural Resources Defense Council, US Chamber, Department of Energy, Fuel Cell, Hydrogen Energy Association, SSAB, AP Locations: Fridley , Minnesota, United States, SSAB Americas, American, Pennsylvania, California

☆ Why the hydrogen tax credit has become a lightning rod for controversy
▼ + stars: | 2023-10-13 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +16 min

The proposed tax credit, 45V, is meant to turbocharge the production of low-emissions hydrogen. "The IRA's section 45V production tax credit is the most generous clean hydrogen subsidy in the world," Jesse Jenkins, professor of macro-scale energy systems at Princeton University, told CNBC. John Macdougall | Afp | Getty ImagesThe adjudication of the hydrogen tax credit has become about more than just the hydrogen tax credit, too. The amount of the hydrogen tax credit, which is available for 10 years, depends on the emissions generated in making hydrogen. If hydrogen is produced without releasing any carbon emissions, the tax credit is maxed out at $3 per kilogram of hydrogen.

Persons: that's, It's, Jesse Jenkins, John Macdougall, Wilson Ricks, Jenkins, Ricks, Rachel Fakhry, electrolyzers, Andriy Onufriyenko, Eric Guter, Josef Kallo, H2FLY, Guter, Phil Musser, Shannon Angielski, Angielski, Shi, Fakhry Organizations: Istock, Treasury, Princeton University, CNBC, Daimler Truck Holding, Afp, Getty, Energy, Research, Princeton, Natural Resources Defense Council, Power, Singularity, Air Products, Bloomberg, Air, Products, Hydrogen Company, European, EU, NextEra Energy, Hydrogen Future Coalition, BP, Duke Energy, Exxon Mobile, General Electric, Siemens Energy, American, Shell, Hydrogen, Coalition Locations: Biden's, United States, U.S, Berlin, additionality, Maribor, Slovenia, Oxagon, Saudi Arabia, Wilbarger County , Texas

☆ Fervo Energy hits milestone in using oil drilling technology to tap geothermal energy
▼ + stars: | 2023-07-18 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +2 min

Geothermal startup Fervo Energy announced a key technical milestone on Tuesday, paving the way for geothermal energy to play a bigger role in the transition to clean energy. In the test, Fervo drilled down drilled down to 7,700 feet and then turned to drill another 3,250 feet horizontally, and internal temperatures reached roughly 375 degrees Fahrenheit. In the United States, geothermal energy supplies only 0.4% of electricity right now. Instead of relying on naturally occurring conditions, Fervo is using drilling technology developed by the oil and gas industry with hydraulic fracturing to create reservoirs in rocks deep underground. "By applying drilling technology from the oil and gas industry, we have proven that we can produce 24/7 carbon-free energy resources in new geographies across the world," Tim Latimer, the CEO of Fervo Energy, said in a written statement.

Persons: Fervo, Jesse Jenkins, Tim Latimer Organizations: Fervo Energy, Princeton, Fervo Locations: Nevada, United States

☆ Inside the fierce debate over clean hydrogen, with $100 billion in federal subsidies on the line
▼ + stars: | 2023-03-03 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +13 min

The impact of the tax credit on emissions reductions depends on how federal agencies implement it. On one side of the debate, some energy providers say that making the rules too strict could kill the clean hydrogen industry before it ever gets off the ground. CERAWeek returned in-person to Houston celebrating its 40th anniversary with the theme "Pace of Change: Energy, Climate, and Innovation." This hourly approach to energy accounting has been adopted by Google, which has been a forerunner in adopting clean energy, for example. In the long run, Garabedian says, his stance is about protecting his company, the industry's reputation, and the tax credit.

☆ Why a U.S. national electric grid would be great for the climate — and is nearly impossible
▼ + stars: | 2023-02-22 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +15 min

But the energy grid in the U.S. has developed over decades as a patchwork of thousands of individual utilities serving their own local regions. The Department of Energy is in the process of conducting a National Transmission Planning Study,to look into all of this. "Many mid-U.S. states have excellent wind resources, and the southwest U.S. has excellent solar resources, but the population is insufficient to use them," McCalley told CNBC. Finally, improved energy sharing would also lead to a more reliable energy grid for consumers. At the kickoff for its next round of transmission planning, MISO had a three hour planning meeting with 377 people in the meeting.

☆ Why it's so hard to build new electrical transmission lines in the U.S.
▼ + stars: | 2023-02-21 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +14 min

Building new transmission lines in the U.S. takes so long — if they are built at all — that electrical transmission has become a roadblock for deploying clean energy. Energy companies that build new transmission lines need to get a return on their investment, explains James McCalley, an electrical engineering professor at Iowa State University. "Someone that benefits more frequent transmission line will pay more than someone who benefits less from a transmission line." transmission lines, energy grid, clean energyGreat River Energy and Minnesota Power are in the early stages of building a 150-mile, 345 kilovolt transmission line from northern to central Minnesota. Engaging with all members of the respective community is a necessary part of any successful transmission line build out, Patel and Johnson both say.

☆ Why America's outdated energy grid is a climate problem
▼ + stars: | 2023-02-17 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +5 min

'A double whammy': Age and locationWind resources in the United States, according to the the National Renewable Energy Laboratory, a national laboratory of the U.S. Department of Energy. National Renewable Energy Laboratory, a national laboratory of the U.S. Department of Energy. That's especially true for tapping into the highest quality of wind energy, explained Princeton professor Jesse Jenkins, a macro-scale energy systems engineer. Solar resources in the United States, according to the the National Renewable Energy Laboratory, a national laboratory of the U.S. Department of Energy. National Renewable Energy Laboratory, a national laboratory of the U.S. Department of Energy.

☆ Without Permit Reform, Path to Clean Energy Could Face a Detour
▼ + stars: | 2022-09-28 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

Architects of the Inflation Reduction Act paved a policy road map of solar and wind power paired with electric vehicles. But without a speedy build-out of transmission lines to link them, that path might just lead to more coal and natural-gas usage. That is the finding of a recent analysis conducted by the Rapid Energy Policy Evaluation and Analysis Toolkit (REPEAT), a project led by Prof. Jesse Jenkins of Princeton. The analysis found that if the U.S. builds out transmission lines at the pace of the past 10 years (a glacial 1% annually), it would result in more coal and natural-gas consumption in 2030 than if the green energy-focused Inflation Reduction Act hadn’t passed.

Senator Joe Manchin's bill to speed energy permitting as a handout to fossil fuel companies, but clean energy advocates said the bill's failure would hinder the rapid expansion renewable power needs to combat climate change. Democratic Majority Leader Chuck Schumer pulled Manchin's bill from temporary government funding legislation on Tuesday after it did not gain enough support. Clean energy backers said the permitting provision could still be attached to other bills later this year that must be passed, such as a big appropriations legislation. Jesse Jenkins, a clean energy expert at Princeton University, tweeted on Tuesday that the permitting bill had been "a big mixed back for climate & the environment." "We still need to build new clean energy & transmission at unprecedented pace!"

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