U.S. Urged to Act Quickly to Lead Global Clean Hydrogen Revolution and Secure Energy Industry Dominance

The United States is facing a strategic opportunity to lead the global clean energy revolution with the right incentives to position the U.S. as a net-zero industrial powerhouse. This opportunity was jeopardized by a deadline passed without action from the federal government, which required the Treasury to issue guidance on clean hydrogen tax credits created under the Inflation Reduction Act (IRA). According to the US National Clean Hydrogen Strategy and Roadmap, clean hydrogen could create 100,000 jobs by 2030 and reduce US emissions by about 10 percent by 2050 compared to 2005 levels. China has a track record of asserting control over emerging cleantech industries, and the electrolyzer market is poised for rapid growth. Congress and the administration must prioritize the growth of the hydrogen industry first and move it toward a net zero pathway second. To maintain its influence in the energy system, Washington must act swiftly to secure America’s place as a global leader in the global energy leader.