The clean hydrogen industry in the United States is facing significant challenges, leading to project cancellations and raising concerns about the viability of ambitious hydrogen initiatives. A key factor contributing to these difficulties is the shortening of the qualification window for a crucial Biden-era tax credit. Congress has mandated that clean hydrogen projects must be under construction by the end of 2027 to qualify, a deadline that many projects are struggling to meet.
Energy consulting firm Wood Mackenzie estimates that a staggering three-quarters of proposed clean hydrogen projects are unlikely to meet the 2027 deadline. This policy change has created uncertainty and increased financial pressure on companies, leading some to reconsider their investments in the sector. The consequences of this shift are already being felt across the country.
Several major energy companies have already scrapped planned hydrogen projects. Woodside Energy, for example, has abandoned its project in Oklahoma, while Fortescue has cancelled its venture in Arizona. Both companies cited rising costs and policy uncertainty as primary reasons for their decisions. These cancellations highlight the precarious state of the clean hydrogen industry in the US and the challenges it faces in scaling up and achieving its potential.
A report by McKinsey further underscores the difficulties facing the sector, revealing that fewer than 15% of low-emission hydrogen projects announced in the United States since 2015 have actually reached the final investment decision stage. This low conversion rate suggests that many projects are struggling to overcome the hurdles related to financing, technology, and regulatory approvals. The future of clean hydrogen in the US hinges on addressing these challenges and creating a more supportive environment for investment and development.
Fuente Original: https://hardware.slashdot.org/story/25/08/11/1814206/americas-clean-hydrogen-dreams-are-fading-again?utm_source=rss1.0mainlinkanon&utm_medium=feed
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