Plug Power Inc. (NASDAQ: PLUG), a global leader in hydrogen solutions for the green hydrogen economy, began commercial operations of its electrolytic hydrogen facility in Woodbine, Georgia, earlier this year. The company plans to leverage the benefits of the Inflation Reduction Act’s (IRA) Section 45V Credit for the Production of Clean Hydrogen (PTC) in its upcoming financial reports. Plug will be one of the first U.S. producers of clean hydrogen to utilize this new incentive, which was enacted by Congress and signed by President Biden.

Solar energy stands at the forefront of renewable energy sources, benefiting significantly from a range of federal incentives designed to accelerate its development and deployment. The support from federal programs not only enhances technological advancements but also makes solar energy more accessible and affordable for a broader spectrum of users, from individual homeowners to large industrial enterprises. The Solar Energy Technologies Office (SETO), part of the Department of Energy’s Office of Energy Efficiency and Renewable Energy (EERE), is pivotal in this transformation.