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.

While hydrogen industry leaders generally welcomed the final rule’s increased flexibility, some said the complicated tax credit guidelines will stymie industry growth.

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 eleventh-hour rules come just over two weeks before President-elect Donald Trump again takes office. He is expected to try to roll back green tax credits and cancel unspent funding issued during the Biden administration.

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.

The final rule for clean-hydrogen production would allow some nuclear power plants that are at risk of retirement to produce the gas.

Hydrogen startups are widely seen as a promising way to eliminate fossil fuels from heavy industry and long-haul transportation. The wait ended today, with the Treasury announcing final rules for hydrogen producers to qualify for tax credits under the section 45V of the Inflation Reduction Act.

The Biden administration loosened some safeguards on a tax credit worth billions of dollars for production of so-called clean hydrogen, Bloomberg reported Friday. The tax credit created by the Inflation Reduction Act,