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
31 October 2024
Russia still aspires to become a major supplier of hydrogen, CO₂ storage capacity and carbon credits, despite financial constraints and the loss of Western technology and expertise
30 October 2024
Inclusion of funding in government’s budget ends uncertainty over support for 11 electrolytic projects
25 October 2024
Investors in hydrogen, CCUS and other energy transition technologies face uncertainty over the outlook for government support after November’s presidential election
22 October 2024
Hydrogen is making inroads as a fuel for power plants as governments seek clean fuels to back up intermittent wind and solar