Just a couple of years ago, everyone seemed to be talking about the great potential for clean hydrogen. As governments worldwide strive to decarbonise, several industry players were looking to hydrogen as the potential miracle fuel that could clean up operations. While there is still hope for a hydrogen revolution in some parts of the world, this is looking increasingly unlikely in the United States.
Under the Biden administration, investors across the U.S. were planning to spend billions on hydrogen projects, encouraged by the financial incentives introduced in the 2022 Inflation Reduction Act (IRA) and other policies. The main focus was on green hydrogen, which many hard-to-abate industries were looking to use to help decarbonise operations. Green hydrogen is produced through the electrolysis of water using renewable energy sources to power the process. This varies from other forms of hydrogen, such as blue and grey,…
