Karl Gnadt Testifies at IRS Hearing

On March 25, 2024, Karl Gnadt testified in front of industry stakeholders at an IRS hearing on the implementation of the 45V Clean Hydrogen Production Tax Credit. 

Testifying on behalf of the Hydrogen Fuel Cell Bus Council, Karl was the only representative at the in-person hearing from a unit of government. There were 44 other participants from private industry and trade associations. Some testified in favor of relaxing the hourly matching and additionality policies proposed by the Administration, and others supporting the strict rules as proposed. 

Karl's testimony focused on the need to instigate fuel production now, with goals for "greening" the process becoming important in future years as more facilities come online and distribution infrastructure improves. Citing the Congressional intent of the Inflation Reduction Act, Karl advocated for streamlined verification and tax credit application procedures for hydrogen producers who are either units of local government or those that produce less than 1 MW/year. This would allow smaller producers to receive the credit without needing to tie their projects to new renewable energy generation, incentivizing those producers to invest in hydrogen production to serve local or regional markets.