A number of new energy stocks, including S&P 500 nuclear stocks Constellation Energy and Vistra, along with Amazon.com supplier Plug Power, moved higher following the Treasury Department and Internal Revenue Service revising its rules for hydrogen production tax credits.

The U.S. Treasury on Friday published its final rules on clean hydrogen production, with guidelines producers must meet to qualify for the clean hydrogen production tax credit of up to $3 per kilogram. The move broadly gave companies clarification on whether they could take advantage of the tax credit, as many were unwilling to make investments in hydrogen production projects until the rules were clarified, according to industry observers.

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The hydrogen tax credit, which ranges from $0.60-$3 per kilogram based on the level of carbon emissions from the project, is part of the Inflation Reduction Act, or the IRA, signed by President Biden in 2022.

The Treasury on Friday made it so nuclear power along with natural gas producers could qualify for billions of dollars worth of credits to make hydrogen.