US Energy Secretary Jennifer Granholm launched the Hydrogen Shot initiative
US hydrogen industry eyes tax credit
Stimulus needed on both supply and demand sides of the equation if hydrogen economy is to be accelerated, says industry lobby group
New US tax credits and other incentives for the hydrogen sector should be adopted to help the country meet the Biden administration’s new goal of slashing the cost of clean hydrogen by 80pc, to $1/kg, within a decade, according to a leading lobbyist. This price level would make hydrogen competitive with conventional fuels—a development seen as vital to hydrogen’s adoption. Tax credits for green hydrogen would be key to reaching that goal, according to Morry Markowitz, president of the Fuel Cell and Hydrogen Energy Association (FCHEA), the national trade body. “It is a start that could provide certainty in the marketplace,” says Markowitz, noting that a production and an investment tax credit
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The government has ambitions to scale up production and become a major exporter by the end of the decade
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Only 21% of approved IPCEI projects reach FID as cost overruns and funding delays hamper progress, according to European Commission officials
