1 There has been literal decades of R&D poured into fuel cells, The last time hydrogen was big was the early 2000s, and there were times before that as well. There is a lot of desire to cash in on that investment.
2 Now with the infrastructure bill of 2021 there is a $3/kg tax credit for green hydrogen, meaning electrolysis of water. Sure it will take 55 kWh to produce that kg of (compressed) hydrogen, but $3 per kg goes a long way toward covering the cost of electricity On top of that the hydrogen can be sold at retail (currently) for $10/kg or more.
Of course that "cheap" green hydrogen is going to cost taxpayers a lot of money, and will inflate electrical costs for everyone (green hydrogen producers will buy all cheap electricity, leaving the expensive stuff for residential customers). However get the formula right and green H2 producers will be printing money like crazy.
There is also a huge subsidy for direct air capture of CO2, $180/ton. This will also consume massive amounts of electricity and be a license to print money for those that can do it for less than $180/ton.
How exactly this is going to play out is difficult to say, but look for your electric bill to be sky high, recharging your electric car at night will be very expensive. heck you will be lucky to even own a car
1 There has been literal decades of R&D poured into fuel cells, The last time hydrogen was big was the early 2000s, and there were times before that as well. There is a lot of desire to cash in on that investment.
2 Now with the infrastructure bill of 2021 there is a $3/kg tax credit for green hydrogen, meaning electrolysis of water. Sure it will take 55 kWh to produce that kg of (compressed) hydrogen, but $3 per kg goes a long way toward covering the cost of electricity On top of that the hydrogen can be sold at retail (currently) for $10/kg or more.
Of course that "cheap" green hydrogen is going to cost taxpayers a lot of money, and will inflate electrical costs for everyone (green hydrogen producers will buy all cheap electricity, leaving the expensive stuff for residential customers). However get the formula right and green H2 producers will be printing money like crazy.
There is also a huge subsidy for direct air capture of CO2, $180/ton. This will also consume massive amounts of electricity and be a license to print money for those that can do it for less than $180/ton.
How exactly this is going to play out is difficult to say, but look for your electric bill to be sky high, recharging your electric car at night will be very expensive. heck you will be lucky to even own a car