{"id":1591660,"date":"2022-08-06T00:48:45","date_gmt":"2022-08-06T04:48:45","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1591660"},"modified":"2022-08-06T00:49:19","modified_gmt":"2022-08-06T04:49:19","slug":"joe-manchins-new-tax-bill-could-help-hydrogen-electric-vehicles","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joe-manchins-new-tax-bill-could-help-hydrogen-electric-vehicles\/","title":{"rendered":"Joe Manchin\u2019s New Tax Bill Could Help Hydrogen Electric Vehicles"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjoe-manchins-new-tax-bill-could-help-hydrogen-electric-vehicles%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1591660&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Hydrogen is \u201cthe most dumb thing I could possibly imagine for energy storage,\u201d <a href=\"https:\/\/car.live.ft.com\/\">said<\/a> Tesla CEO Elon Musk to the Financial Times.<\/p>\n<p>\u201cIt does not naturally occur on Earth, so you either have to split water with electrolysis or crack hydrocarbons.\u201d<\/p>\n<p>Lithium in its pure form also doesn\u2019t occur naturally on Earth, but Musk didn\u2019t address the discrepancy.<\/p>\n<p>Still, Musk\u2019s statement is correct: hydrogen doesn\u2019t occur naturally on Earth. So, while hydrogen is the most abundant element on Earth, it must be split from other elements to obtain its pure form.<\/p>\n<p>Moreover, producing green hydrogen (meaning hydrogen produced through electrolysis with renewable energy) is expensive, costing between $3.73\/kg to $6.50kg in the United States, <a href=\"https:\/\/www.spglobal.com\/commodityinsights\/PlattsContent\/_assets\/_files\/en\/specialreports\/energy-transition\/platts-hydrogen-price-wall\/index.html?utm_source=insight&#038;utm_medium=plattsblog&#038;utm_campaign=lef\">according<\/a> to the latest figures from analyst S&#038;P Global Platts.<\/p>\n<p>In the United States, hydrogen produced from natural gas costs between $1.71\/kg and $2.18\/kg. Unsurprisingly, <a href=\"https:\/\/www.irena.org\/-\/media\/files\/irena\/agency\/publication\/2018\/sep\/irena_hydrogen_from_renewable_power_2018.pdf\">most<\/a> hydrogen comes from coal or natural gas.<\/p>\n<p>However, the Inflation Reduction Act, a tax and climate bill announced by Democratic Majority Leader Chuck Schumer (N.Y.) and Sen. Joe Machin (D-W.Va.), could significantly reduce the price of producing green hydrogen in the United States.<\/p>\n<p>That could help spur hydrogen vehicle interest, also called Fuel Cell Electric Vehicles (FCEV), according to the International Energy Agency (IEA).<\/p>\n<p> <a href=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2021\/09\/07\/hyundai-motor-nexo-hydrogen-car-1200x800.jpg\"><\/a> A Hyundai Motor\u2019s Nexo hydrogen car is fuelled at a hydrogen station in Seoul, South Korea, on Aug. 13, 2019. (Kim Hong-Ji\/Reuters) Green Energy Credits <\/p>\n<p>The $433 billion <a href=\"https:\/\/s3.documentcloud.org\/documents\/22122281\/inflation_reduction_act_of_2022.pdf\">Inflation Reduction Act of 2022<\/a> is not yet in effect. However, with support from previous hold-outs, Manchin, and Sen. Kyrsten Sinema (D-Ariz.), passage in the Senate is almost assured. Passage in the House is also likely given the Democratic majority.<\/p>\n<p>If passed, the bill will give U.S. producers of \u201cqualified clean hydrogen\u201d tax credits of up to $3\/kg for green hydrogen. That could bring the cost of producing<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hydrogen is \u201cthe most dumb thing I could possibly imagine for energy storage,\u201d said Tesla CEO Elon Musk to the Financial Times. \u201cIt does not naturally occur on Earth, so you either have to split water with electrolysis or crack hydrocarbons.\u201d Lithium in its pure form also doesn\u2019t occur naturally on Earth, but Musk didn\u2019t [\u2026]<\/p>\n","protected":false},"author":1203,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1591660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1591660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1203"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1591660"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1591660\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1591660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1591660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1591660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}