"Even before Trump and fellow Republicans began pulling the financial rug out from under the industry, green hydrogen megaprojects were collapsing. Here’s why."
"This week, Senate Republicans joined their House colleagues in proposing to curtail a slew of clean energy incentives. Losing those could upend many a clean energy business, but the cuts would drive a dagger through the heart of the burgeoning green hydrogen sector in particular.
The Senate and House still need to agree on the final text of the bill, but both chambers would take a decade of incentives meant to incubate green hydrogen production and end them after this year. The truth is, though, even before Republican lawmakers sharpened their knives for the tax credit, the much-anticipated green hydrogen boom had quietly collapsed.
Just a few years ago, green hydrogen developers were planning to invest billions of dollars to build gigawatts of wind and solar capacity in prime locations from the Gulf to the desert Southwest, then funnel that electricity into huge banks of electrolyzers. These devices zap water and deliver pure hydrogen gas without the carbon dioxide released by conventional hydrogen production. Ambitious dreamers even proposed billion-dollar pipelines to carry the gas across Texas to ports on the Gulf, where it could be shipped to buyers in Europe and Asia."
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