In 2022, the U.S. passed the “Inflation Reduction Act (IRA)” – legislation that appropriated ~$370 billion as subsidies for measures dedicated to improving energy security and accelerating the clean energy transition, making it the single largest investment in climate and energy in American history (The Whitehouse 2023a). The IRA created a new Clean Hydrogen Production Tax Credit (PTC) under Section 45V (the “45V Credit”) to incentivize the domestic production of clean hydrogen. The underlying goal was to make low-carbon hydrogen more cost-competitive and help the country meet the ambitious goals of the Hydrogen Shot ($1 per “1” kilogram of clean hydrogen in “1” decade), which would unlock hydrogen potential across sectors.