Inside the fierce debate over clean hydrogen, with $100 billion in federal subsidies on the line

Home » Business » Inside the fierce debate over clean hydrogen, with $100 billion in federal subsidies on the line

One type of hydrogen production uses electrolysis, with an electric current splitting water into oxygen and hydrogen. If the electricity used in this process comes from a renewable source then some call it “green” hydrogen.Alex Kraus | Bloomberg | Getty ImagesIn August, the White House passed a historic piece of legislation with $369 billion in spending to address climate change. One of the most significant tax credits in that historic law was a tax credit to make hydrogen in climate-conscious ways.Hydrogen is currently used for many purposes, including making ammonia-based fertilizer, which the world depends on for growing crops, and for refining crude oil into useful petroleum products. But it’s also likened to a “Swiss Army Knife of decarbonization” because it could be used as a power source in industries that are particularly hard to wean off fossil fuels, like airplanes and heavy shipping.related investing news The impact of the tax credit on emissions reductions depends on how federal agencies implement it. As with most things in accounting, the devil lies in the details.On one side of the debate, some energy providers say that making the rules too strict could kill the clean hydrogen industry before it ever ge …

Read More