DOE Proposes Amendments to Hydrogen Circular for Enhanced Incentives in 2024
The Department of Energy is proposing amendments to its 2024 hydrogen circular to integrate enhanced incentives from the CREATE MORE Act. This includes endorsing hydrogen projects to the Board of Investments, allowing access to fiscal and non-fiscal incentives based on project value.
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The Department of Energy (DOE) is proposing amendments to its 2024 hydrogen circular, aiming to enhance incentives under the CREATE MORE Act and simplify approval processes for clean energy investments. The proposed changes will enable the DOE to endorse hydrogen energy projects to the Board of Investments (BOI) or other investment promotion agencies, granting access to incentives.
Projects valued below P15 billion will be managed by the BOI, while those exceeding this threshold will be sent to the Fiscal Incentives Review Board. A hydrogen technical working group will also be established to support policy development.
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