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Air Products CEO spells out new reality for clean hydrogen
Projects will progress only if they are backed by firm offtake deals, with much of firm’s clean hydrogen portfolio underperforming, Eduardo F. Menezes tells investors
EU waves through €400m Spanish green support scheme
Scheme will fund up to 345MW of electrolyser capacity through direct grants for up to ten years
France cuts 2030 electrolytic capacity target by 30%
Government cites slower than expected market development but stands by plan to offer €4b of subsidies to projects aimed at industry
West Africa looks to emulate its northern neighbours
Region has all the ingredients to become a green hydrogen powerhouse but faces plenty of barriers and stiff competition
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European Hydrogen Bank auction is four times oversubscribed, while industry remains on pause in US amid IRA subsidy uncertainty
Oman targets mid-scale projects in third green auction
The country is engaging with potential investors from North America and China as it refines its auction process to reflect shifting dynamics in green hydrogen, Hydrom’s managing director tells Hydrogen Economist
Spain ramps up support for green hydrogen
Government awards €1.21b of funding to seven large-scale projects as it chases capacity target of 12GW by 2030
Green hydrogen growing, but barriers remain
Speakers at this year’s CERAWeek conference noted the growing interest in green hydrogen, but hurdles such as cost remain to its adoption at scale
Hy24 enters North America with StormFisher investment
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Tax incentives attract multiple proposals for hydrogen hubs as government launches new initiative to speed up transition
The US is offering generous subsidies
US Renewables Finance
Stuart Penson
25 August 2023
Follow @PetroleumEcon
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US leads quadrupling of global H2 subsidies

Financial heft of IRA far outweighs support offered by Europe and Asia Pacific, BloombergNEF says

State subsidies announced for low-carbon hydrogen have quadrupled over the last two years to around $280b, with the US standing out as by far the largest provider of support to the sector, according to analysis by research company BloombergNEF (BNEF). In the US, $137b is expected to flow to eligible projects over the next ten years, mainly via tax credits offered under the Inflation Reduction Act (IRA), BNEF analysis showed. “The US edge comes from the compelling offer of [up to] $3kg of low-carbon hydrogen produced – promised under the IRA,” says Adithya Bhashyam, associate, hydrogen, at BNEF. “The US support makes low-carbon hydrogen competitive with hydrogen from natural gas, enables econ

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