Regional Clean Hydrogen Hubs
The Regional Clean Hydrogen Hubs program–or H2Hubs–includes up to $7 billion to establish six to 10 regional clean hydrogen hubs across America. As part of a larger $8 billion hydrogen hub program funded through the Bipartisan Infrastructure Law, the H2Hubs will be a central driver in helping communities across the country benefit from clean energy investments, good-paying jobs and improved energy security.
President Biden Visits Future Electrolyzer Manufacturing Facility on Investing in America Tour
On Monday, April 3, President Biden visited the Cummins Power Generation Facility in Fridley, Minnesota, where later this month Cummins will dedicate 89,000 square feet of the facility to electrolyzer production. The launch of this new capacity follows Cummins’ announcement in October 2022—just two months after President Biden signed the Inflation Reduction Act—that the company will begin manufacturing their electrolyzers in the United States for the first time.
The Battle for the US Hydrogen Production Tax Credits
U.S. hydrogen hubs: What comes next?
The Department of Energy (DOE) is accepting applications for hydrogen hubs around the country that have the potential to provide significant climate and community benefits through state-of-the-art demonstrations. This blog will outline where things stand with hydrogen hub applicants and what is coming in the next year.
What’s next? Application timeline and next steps for the hydrogen hubs program in 2023.
After the application process closes, DOE expects to conduct interviews over the summer of 2023 and notify hub applicants that have been selected for funding by fall 2023. After that, award negotiations are expected to continue into 2024. Throughout this process, we will continue to actively track developments, engage with hub stakeholders, and update CATF’s hydrogen hubs map.
Hydrogen Hubs Program Timeline
Hydrogen energy investment outlook for 2023
Green hydrogen stocks attract interest, but investors aren’t always sure if it’s a good place to put their money. However, the global green hydrogen market is estimated to be worth $223 million this year and to grow at a CAGR of 11.1% to $419.3 million by 20281, making this a good time to reconsider investing in hydrogen stocks or a hydrogen ETF.
Despite the challenges, this could be a good time to invest in hydrogen stocks. US hydrogen stocks have risen by 8% year-to-date, “Hydrogen stocks could be some of the most explosive investments of 2023.”