The Department of Energy is proposing amendments to its 2024 hydrogen circular to integrate enhanced incentives under the CREATE MORE Act and streamline the approval process for clean energy investments.
The proposed changes to Department Circular No. DC2024-01-0001 include a new section allowing the DOE to endorse hydrogen energy projects to the Board of Investments (BOI) or other investment promotion agencies. These endorsements will grant projects access to both fiscal and non-fiscal incentives.
Under the proposal, projects valued below P15 billion will fall under the authority of the BOI or other investment promotion agencies. Projects exceeding that amount will be referred to the Fiscal Incentives Review Board for approval.
The DOE said renewable energy-related hydrogen projects will remain under the primary jurisdiction of the BOI unless otherwise mandated by law. The amendment also calls for the creation of a hydrogen technical working group tasked with facilitating policy development, review and the updating of implementing guidelines.
