By Adithya Bhashyam, Associate, Hydrogen, BloombergNEF Subsidies announced for low-carbon hydrogen – a critical input for a decarbonizing world – have quadrupled over the last two years to cross $280 billion, according to the latest update from BloombergNEF. The US stands far ahead of every other country, with the $137 billion expected to flow to eligible projects over the next 10 years making...
Hydrogen Subsidies
By Adithya Bhashyam, Hydrogen, BloombergNEF You know something big is afoot when competing lobby groups take out full-page ads about hydrogen in the New York Times and the Washington Post. Their ads aim to influence guidance issued by the US Internal Revenue Service (IRS) and Treasury defining how clean hydrogen can be produced. This guidance could shape the emissions associated with billions of...
Both the recent pandemic and the Russian war against Ukraine have radically changed the energy expectations in many parts of the world. A recent article by staff at the Rocky Mountain Institute titled “From Deep Crisis, Profound Change” explains that both events have resulted in governments and businesses reconsidering the benefits of renewable energy sources....
Clarity on clean hydrogenOur mission is to deliver engaging and independent business journalism and insight to executives and leaders in the global clean hydrogen industry. We focus on delivering the news and analysis that matters, fearlessly looking beyond the hydrogen hype to provide a balanced view of the market, giving readers the knowledge they need to make critical business decisions. Source link...
The European Commission has given Germany permission to invest around €3 billion in its hydrogen infrastructure to build long-distance pipelines.The commission on Friday said that the positive effects of the government subsidies would be greater than the potential damage that could be caused by distortions of competition.Germany and other countries are investing in hydrogen as a potentially...
Clarity on clean hydrogenOur mission is to deliver engaging and independent business journalism and insight to executives and leaders in the global clean hydrogen industry. We focus on delivering the news and analysis that matters, fearlessly looking beyond the hydrogen hype to provide a balanced view of the market, giving readers the knowledge they need to make critical business decisions. Source link...
PHILADELPHIA—President Joe Biden traveled to a marine terminal here on Friday to announce billions in funding for new clean hydrogen projects that he said would help the nation meet its climate goals while generating thousands of new high-quality jobs. Surrounded by lines of shipping containers on a dock along the Delaware River, Biden positioned the program as a critical piece of his economic...
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There is a danger that the U.S. Inflation Reduction Act (IRA) subsidies for hydrogen production (defined in provision 45V) may create perverse incentives that do not reduce emissions and may increase them. James Sallee at the Energy Institute at Haas explains why. The goal is to make “green” hydrogen powered by newly built clean energy. But what if the generously subsidised hydrogen is made from...
Hydrogen is already produced at scale for use in making fertilizer and in the petrochemical industry. But more recently, hydrogen is being seen as a way to decarbonize industries like maritime shipping, long-haul trucking, steel-making, industrial heating, and aerospace. Also, its capacity as an effective way of storing energy makes it attractive for renewable energy sources, like wind and solar, which...