"Biden's $1 Billion Investment Sparks Clean Hydrogen Market Growth, Forecasts Show $1.4T Potential by 2050"
Originally Published 2 years ago — by Energy.gov
The Biden-Harris Administration has announced a new initiative to jumpstart the clean hydrogen economy in the United States. The U.S. Department of Energy (DOE) plans to invest up to $1 billion in a demand-side program to support the Regional Clean Hydrogen Hubs (H2Hubs). This initiative aims to provide market certainty for both producers and end users, unlocking private investment and creating new economic opportunities. Clean hydrogen has the potential to reduce emissions in energy-intensive sectors and create tens of thousands of jobs. The DOE has released a Notice of Intent (NOI) seeking public input on the program's design and will select six to ten H2Hubs for federal funding later this year. The proposed mechanism will connect the H2Hubs to purchasers, ensuring durable demand and supporting the administration's clean energy goals.