Letter on hydrogen: IRA’s election stress test
Investors in hydrogen, CCUS and other energy transition technologies face uncertainty over the outlook for government support after November’s presidential election
The Inflation Reduction Act (IRA) of 2022 has transformed the clean energy investment landscape both in the US and around the world. It has arguably set a new benchmark for the level of financial support governments need to kickstart growth in hydrogen, CCUS and renewables, unleashing billions of dollars in the form of tax credits and other subsidies. The Biden administration has gone big on the development of regional hydrogen and carbon capture hubs. The IRA has also drawn investment away from other regions, creating trade tensions with the EU and others. In the electrolyser industry, several European manufacturers have pivoted their investment strategies to the US, where they want to esta
Also in this section
18 March 2026
The second fossil-fuel price shock in four years can be a much-needed catalyst for investment in the sector
9 March 2026
Hydrogen has not stalled in the UK because the technology does not work. The problem is that the system around it does not yet move at the speed required
4 March 2026
Turmoil in Middle East reminds nascent clean hydrogen sector that its future prospects are dependent on global energy markets and geopolitics
25 February 2026
Low-carbon hydrogen and ammonia development is advancing much more slowly and unevenly than once expected, with high costs and policy uncertainty thinning investment. Meanwhile, surging energy demand is reinforcing the role of natural gas and LNG as the backbone of the global energy system, panellists at LNG2026 said
