The Biden administration raised the stakes on its politically fraught bet on massive subsidies for nascent clean-energy technologies Friday, rolling out a plan for awarding billions of dollars in tax credits to the makers of ultrapowerful “green” hydrogen fuel.
The fuel is made by splitting water molecules and may eventually power shipping vessels and factories. Under the proposal, which will be finalized next year, recipients of the subsidies would need to demonstrate that the huge amounts of energy needed to make their hydrogen are not coming from fossil fuels and that they have brought in enough new clean electricity to fully power their operations.
