The Biden administration finalized rules meant to boost domestic production of hydrogen fuel through a new tax credit, a move that might also keep struggling nuclear power plants on line for longer.

The Biden administration finalized long-awaited tax guidance Friday for the production of “clean” hydrogen, but the lasting impact — and even survival — of the credits may come down to Hill Republicans.

The Biden administration released long-awaited final rules Friday for a tax credit that will send billions of dollars to producers of cleaner hydrogen. The new rules drew cautious praise from environmental groups,

The Biden administration said on Friday portions of nuclear power plants will be able to secure tax credits to produce clean hydrogen if the credits help to prevent reactors from retiring.

Key Takeaways Plug Power shares surged for a second straight session on new tax credit rules for clean hydrogen production.Last week, the Treasury Department issued the final rules for the tax credits spelled out in the Inflation Reduction Act of 2022.