The US is offering generous subsidies
US leads quadrupling of global H2 subsidies
Financial heft of IRA far outweighs support offered by Europe and Asia Pacific, BloombergNEF says
State subsidies announced for low-carbon hydrogen have quadrupled over the last two years to around $280b, with the US standing out as by far the largest provider of support to the sector, according to analysis by research company BloombergNEF (BNEF). In the US, $137b is expected to flow to eligible projects over the next ten years, mainly via tax credits offered under the Inflation Reduction Act (IRA), BNEF analysis showed. “The US edge comes from the compelling offer of [up to] $3kg of low-carbon hydrogen produced – promised under the IRA,” says Adithya Bhashyam, associate, hydrogen, at BNEF. “The US support makes low-carbon hydrogen competitive with hydrogen from natural gas, enables econ
Also in this section
22 July 2025
The gas-hungry sector is set for rapid growth, and oil majors and some of the world’s largest LNG firms are investing in ammonia production and export facilities, though much depends on regulatory support
16 July 2025
Major manufacturer cancels rollout of new hydrogen-powered vans and strengthens focus on battery electric and hybrid markets
16 July 2025
Oil and gas major calls for expression of interest in product from Lingen project ahead of startup in 2027
14 July 2025
Danish electrolyser manufacturer decelerates pre-FID work on planned Virginia plant despite renewed clarity over 45V tax credit
