High voltage electricity transmission towers beyond hydrogen storage tanks during the final stages … [+] of construction at Iberdola SA’s Puertollano green hydrogen plant in Puertollano, Spain, on Thursday, May 19, 2022. The new plant will be Europe’s largest production site for green hydrogen for industrial use. Photographer: Angel Garcia/Bloomberg
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The Inflation Reduction Act is now the law, and it will kick in $369 billion for 21st Century energy and climate projects — ones that will benefit the hydrogen economy and domestic wind turbine and solar panel production.
Renewable energy is the recipe for green hydrogen. It produces no pollution, only steam. In its Hydrogen Economy Outlook, Bloomberg New Energy Finance says that green hydrogen could supply 24% of the world’s energy demands by 2050 while cutting CO2 levels by 34%….