This study provides an analysis of life cycle greenhouse gas (GHG) emissions associated with hydrogen production pathways in the context of the 45V clean hydrogen production tax credit (45V PTC) under the 2022 Inflation Reduction Act (IRA). This study underscores the importance of integrating zero-carbon electricity (ZCE), implementing CCS technology and co-product valorization, and careful selection of feedstocks to maximize eligibility for the 45V PTC. Additionally, it provides insights into the various limitations of the latest 45V-GREET model, identifying opportunities for future research to further evaluate the model’s fixed assumptions and constraints. The findings are valuable for stakeholders in the hydrogen production industry aiming to leverage the 45V PTC to promote low-carbon hydrogen production.