WASHINGTON – Citizens for Responsible Energy Solutions (CRES) Forum today unveiled a white paper, “Growing the Industry for Clean Hydrogen,” authored by CRES Forum Senior Policy Manager Rebecca Lorenzen. The paper highlights how hydrogen can be used to decrease emissions in hard-to-abate sectors, strengthen U.S. energy leadership and increase our nation’s competitive edge, as well as significant policy gaps that hinder the growth and scalability of hydrogen technologies.
“Clean hydrogen presents an exciting opportunity for the United States to corner a budding market and accelerate global emissions reductions, especially in traditionally hard-to-abate-sectors,” said CRES President Heather Reams. “Providing business certainty to American companies leading the charge to innovate and scale new clean hydrogen technologies is critical and will achieve an extraordinary return on investment for the U.S. economy. A commonsense approach to clean hydrogen policy is paramount to break ground on new projects and help this important industry flourish.”
“Scaling up a robust and competitive hydrogen industry in the United States will require pulling a variety of policy levers to strike a balance between the right amount of incentives, ensuring the cleanest production possible and allowing developers enough leeway to get their projects off the ground.”
— Excerpt from “Growing the Industry for Clean Hydrogen“
The white paper highlights how switching to low-emissions or clean hydrogen in hard-to-abate sectors could reduce global energy-related CO2 emissions by 10 to 25 percent, and U.S. CO2 emissions by up to 10 percent from 2005 levels by 2050, according to the U.S. Department of Energy (DOE). With the ample availability of feedstocks, storage and adaptable natural gas supply infrastructure, the United States has a natural advantage for clean hydrogen production. However, the nascent clean hydrogen industry faces challenges from regulatory hurdles, from the arduous debate surrounding the rules for implementation of the Section 45V hydrogen production tax credit, to high start-up costs and scalability concerns. The paper examines those challenges and opportunities in the clean hydrogen sector and outlines how U.S. energy policy can de-risk the industry and spur crucial investment.
Click HERE to read the full white paper.