The True Cost of the 45V Tax Credit

The True Cost of the 45V Tax Credit

The True Cost of the 45V Tax Credit (May 2025) evaluates the cost of the clean hydrogen production tax credit (45V), part of the Inflation Reduction Act (IRA) signed into law in August 2022. As Congress and the White House consider new budget cuts, a wave of uncertainty has emerged around the credits. But accurate assessments are crucial. EFI Foundation’s (EFIF) analysis shows that the credit will cost significantly less to U.S. taxpayers than i…