Creating clean hydrogen power is hard. Biden’s new subsidies show why.
Story by Evan Halper • 16h
The Biden administration Friday rolled out ambitious plans to subsidize clean hydrogen energy, but details of these long-awaited tax credits illustrate barriers that continue to weigh on the green fuel’s future.
The financial incentives, approved by Congress in 2022 and a key pillar of President Joe Biden’s climate agenda, are aimed at enabling U.S. domination of a new energy source. Potentially worth tens of billions of dollars, the credits could spur the use of climate-friendly forms of hydrogen to power some of the most polluting sectors of the economy — ranging from cement production to jet airline travel.
“Clean hydrogen can play a critical role decarbonizing multiple sectors across our economy, from industry to transportation, from energy storage to much more,” said David Turk, deputy secretary of energy.
Much of the debate around the tax incentives focused on how hydrogen is produced. Running the machines that separate hydrogen from water requires the up-front use of electricity.
https://www.msn.com/en-us/politics/government/creating-clean-hydrogen-power-is-hard-biden-s-new-subsidies-show-why/ar-AA1wVgLY?ocid=msedgdhp&pc=HCTS&cvid=aabc04d749274f34b6a095640e4a34ae&ei=99
