“Three-quarters of proposals will not meet this deadline,” according to Wood Mackenzie, regarding the shortened qualification window for Biden-era tax credits.
Congress cut five years from the hydrogen tax credit window. Projects must be under construction by end of 2027. Woodside and Fortescue already cancelled their plans. Fewer than 15% of low-emission hydrogen projects announced since 2015 have reached final investment decision. The hype cycle claims another victim.