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RFF Fellow Aaron Bergman comments on high costs in the green hydrogen industry.
“The Biden administration set out to make the green hydrogen industry more lucrative by getting Congress to pass tax credits that would pay producers $3 per kilogram of hydrogen. But when Republicans took control of Congress this year, they arranged for a phaseout of those tax credits by 2028, rather than 2033, part of a broader assault on funding for renewable energy. It’s unclear if green hydrogen producers will find a path to profitable operation anytime soon.
‘If you look at the wind and solar industry, it took decades for the cost to come down,’ Aaron Bergman, a fellow at Resources for the Future, a nonprofit focused on energy and the environment, told the Financial Times. ‘The hydrogen industry has not had that time.’”
